SK Biopharmaceuticals has secured global rights to 1ST Biotherapeutics’ oral Parkinson’s disease candidate 1ST-104 in an agreement valued at up to $314.8 million, or ₩430.8 billion. The deal provides 1STBIO with $1.8 million upfront and a further $1.8 million near-term payment, with additional research, development and commercialization milestones, plus royalties on net sales if the drug reaches the market. SK will separately invest $2.2 million, equivalent to about ₩3 billion, in 1STBIO. 1ST-104 is a preclinical small molecule designed to inhibit the LRRK2 enzyme and c-Abl protein simultaneously. The dual-target approach is intended to address biological pathways linked to Parkinson’s disease, including neuronal dysfunction and alpha-synuclein accumulation. 1STBIO is selecting a preclinical candidate, after which SK plans to review further development toward an Investigational New Drug application. The transaction is the first in-licensing deal led by SK’s Open Innovation Center and expands its central nervous system portfolio as the company seeks external candidates through its East-West Bridge strategy. It follows a regulatory setback for BHV-7000, an epilepsy drug for which SK recently paid $350 million upfront before the U.S. Food and Drug Administration placed clinical trials on hold.