Full-Life Technologies, an integrated global radiotherapeutics company based in Belgium, announced on Tuesday that it has signed a licence agreement with SK Biopharmaceuticals, a South Korea-based global biotech company.

The licence agreement covers exclusive global clinical research, development, manufacturing and commercialisation rights to Full-Life's FL-091 radiopharmaceutical compound, targeting neurotensin receptor 1 (NTSR1) positive cancers. It is valued at USD571.5m and includes an upfront payment, and development and commercial milestones, separate from royalties.

Under the terms of the agreement SK Biopharmaceuticals will in-license the NTSR1-targeting Radionuclide Drug Conjugate (RDC) programme FL-091 -- as well as its back-up compounds -- aimed at developing and commercialising it as an innovative anti-cancer drug. SK Biopharmaceuticals also has a right of first negotiation to license other Full-Life pre-selected RDC programmes.

FL-091 is a small-molecule radioligand vector designed to deliver targeted radiation therapy to cancer cells by binding specifically to NTSR1, a receptor protein, which is selectively overexpressed in various types of solid tumours, including colorectal cancer, prostate cancer and pancreatic cancer.