First Biotherapeutics Co., Ltd. (hereinafter “First Bio”) and Ligachem Biosciences Co., Ltd. (hereinafter “Ligachem Bio”) announced on the 9th that they have signed a joint research and technology transfer option agreement for the development of new payloads for antibody-drug conjugates (ADCs) , immuno-oncology agents, and small molecule new drugs.
Through this agreement, the two companies aim to discover 2 to 4 new drug candidates, including next-generation ADC payloads, within the next 3 years. According to the agreement, Ligachem Bio will invest initial research funds for joint research and provide additional research funds depending on the progress of the research. For the new drug candidates that are derived from the results, the company will secure exclusive licensing option rights, and if a technology transfer agreement is signed with a third party after exercising the option, the profits will be shared in a set ratio.
Since last year, the two companies have been discussing the possibility of developing ADCs with next-generation payloads and jointly researching new immuno-oncology drugs. Through the collaboration process, the two companies have confirmed that their core competencies can be combined to achieve technological synergy and strategic research directions. Through this collaboration, they plan to focus on overcoming the limitations of existing ADC payloads and securing new future growth engines in the fields of payloads with new mechanisms, next-generation immuno-oncology drugs, and small molecule new drug research.
FirstBio CEO Jae-eun Kim said, “FirstBio’s global-level R&D capabilities will serve as the foundation for this collaboration, playing an important role not only in improving ADCs but also in discovering new small-molecule anticancer drugs.” He added, “This collaboration will be an opportunity to create new possibilities by combining the technologies and experiences of both companies, and will serve as an example of sustainable collaboration between domestic biotech companies.”
Ligachembio CEO Yong-Joo Kim said, “We are very pleased to be collaborating with FirstBio, which has extensive experience and excellent core competencies in the R&D of small molecule synthetic new drugs,” and added, “In addition to this collaboration, we will continue to pursue open innovation with domestic and foreign biotech companies that can create synergy by combining with Ligachembio’s own research capabilities.”
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