Abion Selected for New Health and Medical R&D Support Projects Led by the Ministry of Health and Welfare

Received R&D funding for ABN401 Global Phase 1 from the Ministry of Health and Welfare
Aiming for KOSDAQ transfer listing in the first half of this year

[Asia Economy Reporter Eunmo Koo] ABION announced on the 21st that it has been selected for the 1st New Health and Medical Research and Development (R&D) Support Project of 2020, organized by the Ministry of Health and Welfare.

ABION will receive research funding for two years for the global Phase 1 clinical study of the precision medicine-based c-Met targeted anticancer drug ABN401. The previously selected ABN401 non-clinical trial support project by the Ministry of Health and Welfare was successfully completed last year.

The Ministry of Health and Welfare supports projects with the aim of strengthening domestic new drug research and development capabilities through step-by-step support for new drug non-clinical and clinical trials, and to produce practical results such as domestic new drug development and technology transfer both domestically and internationally.

Currently, ABION is conducting global Phase 1/2a trials of the anticancer drug candidate ABN401 in Australia and Korea. ABN401 is a small molecule compound that inhibits the receptor c-Met, which promotes the growth of solid tumors such as non-small cell lung cancer and gastric cancer. It not only inhibits cancer induction but also overcomes resistance to existing drugs.

An ABION official stated, “It can be used in combination with or alone from existing anticancer drugs, aiming to improve the treatment rate of cancer patients such as those with non-small cell lung cancer and gastric cancer in the future,” adding, “We plan to enter Phase 2 clinical trials in the United States next year.”

At the end of last year, ABION submitted a listing review application to the Korea Exchange for transfer listing to KOSDAQ and is aiming for a transfer listing to KOSDAQ in the first half of this year.