Barcelona-based Almirall, S.A. (ALM) and China-based Shenzhen CrystalO Biopharma Technology Co., Ltd. announced a collaboration and licensing agreement to discover and develop novel small-molecule ion channel modulators for skin diseases. The deal gives Almirall exclusive rights to develop, manufacture, and commercialize resulting compounds in all markets outside mainland China, while CrystalO retains commercialization rights in China. The agreement is a ground-up discovery program with no pre-existing clinical candidate; any compounds will originate from CrystalO's AI- and structure-based drug discovery platform applied to ion channel targets in dermatology.
CrystalO will lead candidate compound discovery, optimization, investigational new drug (IND)-enabling studies, and early clinical development through proof-of-concept (POC) testing. The company's platform applies AI-assisted and structure-based drug design to ion channel targets — a class historically difficult to prosecute due to complex transmembrane topology and high structural homology across subtypes. CrystalO's scientific advisory board includes Nobel Laureate and ion channel pioneer Erwin Neher, the company said. No specific target or compound code has been disclosed.
Under the financial terms, CrystalO receives an upfront payment from Almirall and is eligible for success-based payments tied to research, development, regulatory, and commercial milestones, plus tiered royalties on future net sales outside mainland China. CrystalO will in turn pay Almirall tiered royalties on its own future China sales. The specific values of the upfront payment and milestones were not disclosed.