Lipigon Pharmaceuticals (Lipigon) announced that it will receive a milestone payment of USD 1 million before Chinese taxation from Leaderna Therapeutics Ltd. (Leaderna). The payment follows Leaderna's approval to conduct a Phase I bridging study for the investigational drug Lipisense®?. The revenue will be recognized second quarter 2024.

In June 2023, Lipigon and Leaderna embarked on a strategic partnership to develop and commercialize Lipisense®, intended for the treatment of lipid disorders such as severe hypertriglyceridemia (SHTG). This collaboration harnesses the strengths of both companies to effectively advance the clinical development of Lipisense®. Leaderna plans to initiate the Phase I bridging study with healthy volunteers in China.

The National Medical Products Administration (NMPA) has approved the study protocol, and Lipigon has provided the necessary materials to Leaderna. The study will assess the candidate's safety, tolerability, and pharmacokinetic properties following a single dose. As part of the licensing and development agreement, Leaderna has secured the rights to develop and commercialize Lipisense® in the Greater China region.

Under the terms of the agreement, Lipigon is entitled to milestone payments and royalties on sales in Greater China, amounting to a total of up to USD 91 million.