Daewoong Pharmaceutical is seeking to enter the U.S. anticancer market with the global pharmaceutical company, Zydus Worldwide DMCC.

Daewoong Pharmaceutical announced on the 11th that it had signed a licensing agreement with Zydus Worldwide DMCC. to co-develop and commercialize the anticancer drug DWJ108U Depot suspension injection.

The value of the agreement is estimated to be near KRW 12.22 billion at most. This includes an upfront payment of $9.24 million (KRW 12.2 billion), development and commercialization milestones of $2.55 million (KRW 3.4 billion), and an additional supply agreement worth $66.89 million (KRW 88.5 billion).

Under the agreement, Zydus will be assumi