Ocugen, Inc. Enters Exclusive License Agreement with Kwangdong Pharmaceutical Co., Ltd.

On September 11, 2025, Ocugen, Inc. entered into an Exclusive License Agreement with Kwangdong Pharmaceutical Co., Ltd. Under this agreement, Kwangdong was granted an exclusive, non-sublicensable, royalty-bearing license to import, export, distribute, use, and sell OCU400, Ocugen's novel modifier gene therapy for retinitis pigmentosa, in the Republic of Korea. Kwangdong will have sole control over regulatory submissions and communications with regulatory authorities in the region. Ocugen will receive $1 million in upfront license fees, up to $6.5 million in regulatory and development milestones, and payments upon achieving sales milestones, along with a 25% royalty on net sales. The agreement will remain in force for 20 years from the first commercial sale, the expiration of the last valid patent claim, or the expiration of exclusive marketing rights, whichever occurs last. The agreement includes customary termination provisions for material breaches or corporate actions such as bankruptcy.