Ocugen (OCGN) just made headlines with its new licensing agreement with Kwangdong Pharmaceutical, giving the Korean company exclusive rights to OCU400, Ocugen's gene therapy for retinitis pigmentosa. The structure of the deal is designed to benefit both sides: Ocugen is set to receive upfront and milestone payments totaling $7.5 million, along with royalties and future sales milestones based on OCU400's success in Korea. The agreement also includes plans for Ocugen to manufacture the commercial supply, with development of OCU400 moving into the key Phase 3 stage for regulatory submission in the U.S. and Korea.