Since the end of 2018, the two companies have signed a Research Collaboration Agreement to discover new drug candidates, and have jointly conducted basic research for the development of gene cell therapy products. This technology transfer contract is a follow-up contract based on the research results of open innovation of both companies.
Under this agreement, Medipost grants licenses to develop and commercialize products using related technologies such as high-efficiency mesenchymal stem cells and MLSC, a high-efficiency cell culture platform technology, and LG Chem will use its gene technology based on this. It plans to expand the development of a pipeline for innovative gene cell therapy products.
The MLSC cell culture platform technology is a next-generation stem cell platform technology that can mass-produce high-efficiency cells by intensive 20 years of cell selection and culture-related technologies of Medipost. Highly active cells accurately reach the target and maximize the therapeutic effect. It is characterized by one point.
Under this contract, Medipost will receive an advance deposit without a refund condition.
In the future, when LG Chem’s global clinical development progress and commercialization are performed, milestones will be sequentially received according to sales, and ordinary technology fees will be additionally received according to net sales.
LG Chem will own the worldwide exclusive development and commercialization rights for gene cell therapy products discovered through joint research by the two companies.
The two companies are evaluating that the success of global innovative new drugs is increased by combining Medipost’s proven and unique cell culture platform technology with LG Chem’s genetic engineering technology and experience in global drug development.
Yang Yun-seon, CEO of Medipost, said, “The active collaboration between the two companies was able to discover the best candidates for gene cell therapy products within synergy.” In addition, since additional technology can be transferred to other companies, this will accelerate the transfer of open platform technology.”
LG Chem Sohn Ji-woong, head of the Life Science Business Division, said, “We have confirmed the possibility of developing an innovative gene cell therapy product through two years of joint research with Medipost, which has the best capacity in Korea, in the field of stem cells.” “We plan to launch a product of the level of innovative new drug (1st in Class) that can fundamentally treat diseases in high demand in the global market.”