KainosMed Signs JV Agreement with Jangsu ID for Overseas Joint Entry into AIDS Treatment Market

[Asia Economy Reporter Hyunseok Yoo] Kainosmed announced on the 4th that it has signed a contract to establish a joint venture, Kaidea Global Pte. Ltd, in Singapore with Jiangsu Aidea Pharmaceuticals of China to jointly enter overseas markets for AIDS treatment drugs (KM-023) and others.

Kainosmed and Jiangsu Aidea will invest 275,000 Singapore dollars and 225,000 Singapore dollars respectively, holding 55% and 45% of Kaidea's shares.

Jiangsu Aidea is developing the AIDS treatment drug ACC007 based on the technology transfer of Kainosmed's KM-023, and has completed Phase 3 clinical trials of ACC007 in China and is awaiting new drug approval (NDA).

Jiangsu Aidea plans to transfer the rights to use the clinical research and data of KM-023 secured through this to Kaidea, while Kainosmed will carry out global licensing rights of KM-023 (excluding Korea and China) and technology transfer of additional projects.

Kaidea plans to accelerate the overseas market entry of KM-023 based on the technological capabilities and intellectual property of both companies and will promote technology transfer to the Indian market. A Kainosmed official said, “With the establishment of Kaidea, the technological capabilities of Kainosmed and Jiangsu Aidea have been combined,” and added, “We expect the overseas market entry of both companies to gain momentum.”