Daewoong-DND Pharmatech to Jointly Develop Oral Peptide and Protein Drugs

Jeon Seung-ho, CEO of Daewoong Pharmaceutical (right), and Lim Sung-mook, CEO of D&D Pharmatech, are posing for a commemorative photo after signing an agreement on the 17th for the "Oral Peptide and Protein Drug Joint Development Contract." (Photo by Daewoong Pharmaceutical)

[Asia Economy Reporter Lee Chun-hee] Daewoong Pharmaceutical announced on the 21st that it held a signing ceremony at its headquarters in Samseong-dong, Gangnam-gu, Seoul on the 17th and signed a "joint development contract for oral peptide and protein drugs" with D&D Pharmatech.

Through this contract, both companies will promote the development of oral formulations for various peptide and protein drugs. Once the candidate substances are selected, D&D Pharmatech will create the formulation, and Daewoong Pharmaceutical will handle solidification and GMP production. Clinical development and commercialization will be conducted by D&D Pharmatech in the US and European regions, and by Daewoong Pharmaceutical in other regions. The development costs and commercialization and license-out revenues resulting from successful development will be shared equally by both companies.

Peptide and protein drugs have high biofunctional promotion effects but have limitations in oral drug development due to decomposition by digestive enzymes in the gastrointestinal tract. However, D&D Pharmatech developed a proprietary platform technology that converts peptide and protein components into oral drugs and was selected last year as a new project in the bio-industry core technology development project hosted by the Ministry of Trade, Industry and Energy.

Daewoong Pharmaceutical plans to combine D&D Pharmatech's oral formulation technology with its full-cycle capabilities from clinical trials to commercialization to create innovative drugs based on peptide and protein components.

Jeon Seung-ho, CEO of Daewoong Pharmaceutical, said, "We expect great synergy between the two companies through cooperation with D&D Pharmatech, which has oral formulation technology and global clinical capabilities," and added, "We will do our best to cooperate to ensure that various innovative global oral drugs can be born through successful clinical development."

Lim Sung-mook, CEO of D&D Pharmatech, also said, "This recognizes the value of D&D Pharmatech's oral formulation technology," and added, "Through the partnership with Daewoong Pharmaceutical, the full-cycle development of oral drugs can proceed very quickly and efficiently."