D&D Pharmatech Wins Additional Pfizer Order, Expands Obesity Drug Deal 38%

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D&D Pharmatech (347850.KQ) has expanded its joint research collaboration with U.S. pharmaceutical company Pfizer on an obesity treatment. Following an additional order from Pfizer, the value of the research service contract has increased 38% from the previous level, and the contract term has been extended until 2028

D&D Pharmatech said in a regulatory filing on the 14th that the value of its research service contract with Pfizer for developing an oral peptide obesity treatment formulation has expanded

Through an amended disclosure, the company said the contract amount was revised from 1.83266 billion won to 2.52657 billion won. The change reflects Pfizer’s additional order, increasing the contract value by 693.9 million won (37.8%) from the previous level

The contract’s scope was also revised, from “research services related to oral peptide dual-agonist (obesity treatment) formulation development” to “research services related to oral peptide obesity treatment formulation development.” The contract term was likewise extended by 15 months, from November 30 this year to February 29, 2028

Under the contract, payment is received within 90 days after each research service item is completed, with no advance payment or down payment. This contract’s value corresponds to 58.79% of D&D Pharmatech’s consolidated revenue last year (4.2976 billion won)

D&D Pharmatech is pursuing the development of an oral formulation of a GLP-1 class obesity treatment, based on platform technology that delivers peptide drugs, which are difficult to absorb in the body, in the form of an oral medication

In 2023, the company transferred its peptide-based drug delivery platform and candidate substance-related technology to U.S. biotech company Metsera. It subsequently expanded the scope of collaboration through additional technology transfers, and Metsera was acquired by Pfizer last year

#DnDPharmatech#Pfizer#ObesityDrug#GLP1#Biotech#KoreaBiotech#Metsera

Original reporting by Lee Jung-min for Seoul Economic Daily

AI-translated from Korean. Quotes from foreignxact original wording

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