Curacle said Wednesday that Théa Open Innovation, a French ophthalmology specialist company, has returned the rights to its retinal vascular disease treatment, CU06.

CU06 is an endothelial dysfunction blocker being developed for indications such as diabetic macular edema and wet macular degeneration.

In 2021, Curacle licensed the global rights for CU06, excluding Asia, to Théa Open Innovation. Under the accord, Théa Open Innovation made an upfront payment of 7 billion won ($5.1 million), and Curacle also received an additional 200 billion won in potential development and sales royalties.

Under the agreement, both parties will also have meetings, including those between their CEOs, over the next 30 days to facilitate the return of these rights, according to Curacle.

However, even though the contract is ending, Curacle is not obligated to return the upfront payment and research and development expenses already received from Théa Open Innovation.

After the contract terminates, the rights to CU06 and the ongoing clinical trials will revert to Curacle, which will regain full global rights and the ability to continue its clinical development independently.

“Through the recently completed phase 2a trial of CU06, we have confirmed its effectiveness in improving vision and safety,” Curacle said. “We are committed to carrying out the subsequent development plans for CU06 without disruptions, regardless of the return of rights.”