Apimeds acquires Korean Apitox rights from FreeT in August 2026 assignment deal

On August 19, 2026, Apimeds Pharmaceuticals US, Inc. entered into an Assignment and Transfer Agreement of Certain Apitox Rights with FreeT Inc., a company organized under the laws of the Republic of Korea.¹ FreeT is the successor to CNP Roen Co., Ltd., which later became Inscobee Co., Ltd. before taking its current name.¹ Under the deal, FreeT transferred to Apimeds all of its rights, title and interest in certain Apitox-related rights that CNP Roen Co., Ltd. had originally acquired under a June 16, 2015 Apitox Rights Transfer Agreement.¹

The transferred rights cover full ownership of the Apitox market serving Korean medicine clinics within South Korea, along with a twenty-five percent royalty entitlement on proceeds from the development, licensing, sale or other commercialization of Apitox in the United States, and a twenty-five percent revenue participation right on net proceeds from overseas rights agreements.¹ The package also includes quarterly reporting rights on the Apitox clinical program and on overseas rights transactions, plus certain contractual benefits tied to data and technology used in third-party manufacturing or licensing arrangements.¹

The filing notes limits on the transfer: the assigned rights only cover what FreeT actually held as of the effective date, to the extent legally assignable, and the agreement excludes any global rights outside FreeT's holdings, underlying intellectual property in Apitox, and rights not specifically granted to FreeT.¹ Apimeds also stated that the assigned rights are free of claims tied to prior side letter arrangements, including any involving Lokahi Therapeutics Inc.¹

Apimeds said it only assumed obligations arising after the effective date related to lawful use of the assigned rights, and did not take on any prior payment obligations, breaches, liabilities, debts or claims tied to FreeT under the 2015 agreement.¹ FreeT separately indicated it intends to support Apimeds' continued Apitox development, indication expansion and global commercialization, and to help facilitate future agreements for additional territorial rights outside the United States, subject to separate definitive agreements.¹ The agreement is governed by South Korean law, with exclusive jurisdiction in the Seoul Central District Court.¹