From left, KG BIO’s CEO Sie Djohan and Sung Young-cheol, CEO of Genexine.
Genexin(109,600 +15.25%)Announced on the 18th that it has transferred the technology of’GX-I7′, which is being developed as an anticancer drug, to’KG BIO’ in Indonesia, a subsidiary of Calbe Parma, the largest pharmaceutical company in Southeast Asia.
The GX-I7 license was granted to ASEAN countries, the Middle East, Australia, New Zealand, India and Africa. The down payment is 27 million dollars (about 30 billion won). In addition, it receives up to $1.1 billion (about 1.2 trillion won) including technical fees (milestones) for each stage such as clinical progress and product approval. There is no obligation to return down payments and milestones. Separately, if GX-I7’s sales are generated in the contracted area, it is also decided to receive a 10% current technology fee (royalty).
KG BIO is owned by Kalbe Parma (64%), US investor General Atlantic (15%), and Genexine (20%).
“The value of GX-I7, a T-cell amplifying agent, has been recognized once again,” said Sung Young-cheol, CEO of Genexine. I will.”
After the introduction of the technology, KG BIO plans to apply for emergency use approval when the efficacy of the treatment is proven in the clinical phase 2 of the corona treatment currently in progress in Indonesia. In addition, it is planning to conduct various clinical trials with HLX10, an immune anticancer drug introduced in 2019 from Henrius, a subsidiary of Fosun Pharma, China.
Genexine reported that GX-I7 is proving its value as an immune anticancer drug through various single or combination clinical trials. In the interim results of phase 1b·2 clinical trials in combination with Kitruda, an immune checkpoint inhibitor last year, the objective response rate (ORR) increased five times or more compared to Kitruda alone. It is also scheduled to be used in combination with Roche’s Avastin.
Imap Biopharma, which has transferred the rights of GX-I7 to China, is undergoing phase 2 clinical trials for malignant glioblastoma (GBM) under the product name’TJ-107′. Neoimmuntech, which has secured the rights in the Americas and Europe, is conducting clinical trials in combination with various anticancer drugs such as Ticentric Kitruda Opdivo Kimria under the product name’NT-I7′.
Reporter Minsoo Han [email protected]
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