Pharmosa Biopharm’s innovative drug-device combination product, L606, aimed at treating pulmonary arterial hypertension (PAH) and PH-ILD (pulmonary hypertension associated with interstitial lung disease), is making significant progress in clinical trials. In October, Pharmosa finalized an agreement with its North American partner, Liquidia, to expand L606’s licensing territory to the global market. This agreement includes an upfront payment of USD 3.5 million, which is expected to boost Pharmosa’s October revenue past the NT$100 million mark.

L606, designed for PAH and PH-ILD indications, requires just twice-daily inhalation every 12 hours, making it the world’s first long-acting liposomal formulation for these conditions. Delivered through a proprietary inhalation nebulizer developed by Pharmosa, this formulation helps reduce upper respiratory tract toxicity and is expected to become a competitive alternative in the extensive treatment market.

Previously, Pharmosa had granted Liquidia commercialization rights for L606 in North America, with the licensing agreement for PAH and PH-ILD totaling USD 225 million (approximately NT$7 billion), including an upfront payment of USD 10 million and milestone payments of USD 215 million. Additionally, the agreement stipulates USD 10 million for each new indication added and another USD 10 million for each new derivative product of L606.

In October, Pharmosa expanded the licensing territory with Liquidia beyond North America to cover the global market, excluding Taiwan, South Korea, Southeast Asia, China, the Middle East, North Africa, Turkey, and certain other regions. Under the revised agreement, Pharmosa will receive an additional USD 3.5 million upfront, with milestone payments totaling USD 157 million, bringing the amended licensing value to USD 161 million (approximately NT$5.1 billion).

The Phase 3 clinical trial for PAH in the U.S. is currently underway, with trial results expected in 2025. Pharmosa has been supplying L606 for clinical use, contributing to September revenues of NT$40.9 million primarily from sales recognized for clinical drug supply. The USD 3.5 million upfront payment from the October licensing expansion will be recognized this month, driving October revenue to exceed NT$100 million.

Resource (mandarin): Liquidia授權版圖擴增簽約金入帳，國邑*10月營收拚破億元