Kumho HT to Merge with Dinona... "Accelerating COVID-19 Treatment Development"

[Asia Economy Reporter Minji Lee] Kumho HT announced on the 27th that it is pursuing a merger with Dynona, a company specializing in antibody drug development.

Through this merger, Kumho HT expects to provide broader and more multifaceted support across the entire bio business, including Dynona's △clinical progress and technology transfer of immuno-oncology drugs (DNP 002, DNP 005) △clinical progress and technology transfer of immunomodulatory drugs (DNP 007) △clinical progress of novel coronavirus infection (COVID-19 · DNP 002, neutralizing antibody). Currently, Kumho HT holds an 18.74% stake in Dynona, making it the second largest shareholder. The largest shareholder is Kumho HT’s parent company, SMAC, with a 24.40% stake.

The company plans to begin formal discussions on the timing, method, and format of the merger starting early next year. A Kumho HT official stated, “Since the future value of the pipeline held by Dynona is highly regarded in the related industry, we will secure mid- to long-term growth engines in our business areas,” adding, “Dynona is also expected to improve management efficiency and accelerate the development outcomes of various new drug candidates through this merger.”

Dynona recently received approval from the Ministry of Food and Drug Safety for the Phase 1 IND (Investigational New Drug application) of the antibody drug ‘DNP002.’ This drug candidate is also being developed as a treatment for acute respiratory distress syndrome (ARDS) including COVID-19. Additionally, another key pipeline of Dynona, the rheumatoid arthritis treatment ‘DNP007,’ which was selected as a project by the Pan-Government New Drug Development Project Group and the Ministry of Trade, Industry and Energy, is also preparing for Phase 1 clinical trials.