Leaders Technology Investment "ZennCell Pursues License Out for COVID-19 Treatment"

[Asia Economy Reporter Jang Hyowon] Leaders Technology Investment announced that Genencell, in which it has invested, is pursuing a global license-out agreement for a COVID-19 treatment.

Leaders Technology Investment announced on the 6th that Genencell signed a tripartite memorandum of understanding (MOU) related to a global license-out agreement for the COVID-19 treatment ES1600 with Swiss virus-specialized biotech RDP Pharma AG and its domestic joint venture biotech PAGS.

According to Genencell, Swiss virus-specialized company RDP Pharma AG and domestic joint venture biotech PAGS will participate from the global Phase 2b/3 clinical trials of Genencell's COVID-19 treatment. While reducing risks, they plan to strengthen cooperation for commercialization in the US and Europe by utilizing RDP Pharma's global network.

Genencell, currently pursuing a KOSDAQ listing, is preparing for Phase 2b/3 clinical trials in Europe for its COVID-19 treatment ES1600. Leaders Technology Investment made an investment in the venture pharmaceutical company Genencell through a paid-in capital increase together with Korea Pharma last February.

Genencell is a bio-healthcare specialized company researching and developing pharmaceuticals based on natural new materials. Through this agreement, RDP Pharma plans to proceed with technology transfer and licensing contracts for Genencell's COVID-19 treatment worldwide, centered on Europe. Furthermore, each company is expected to intensify cooperation for the exchange of necessary physical and human resources to accelerate treatment development.

Swiss RDP Pharma AG / PAGS Co., Ltd. is an expert group in COVID-19 treatment development, including Dr. Udo Kiesling, formerly of Paraxel, and global authorities on antiviral treatments. Through collaboration with leading antiviral experts from Belgium, Italy, and other countries, they plan to focus on developing a global COVID-19 treatment and secure a leading position in the global market.

According to a Genencell official, “We have already completed Phase 2 clinical trials for the COVID-19 treatment using substances extracted from Jeju Dambalsu in India, and are currently preparing for global Phase 2b/3 clinical trials in Europe.” He explained, “The results from the Indian Phase 2 trial showed an excellent recovery rate of over 95% within less than a week after administration to mild and moderate COVID-19 patients. Through the upcoming Phase 2b/3 trials, it is expected to become a fundamental treatment that can shift the paradigm from prevention relying on existing vaccines to treatment.”

A Leaders Technology Investment official said, “Through this MOU, we will build a global COVID-19 treatment consortium that bridges East and West by combining Genencell’s and Kyung Hee University’s know-how in new drug development using natural substances with Europe’s clinical development and commercialization networks, establishing a solid foundation for the globalization of domestic treatments.” He added, “Genencell, which was invested in during these difficult times due to COVID-19, is showing visible results by developing a COVID-19 treatment and pursuing an IPO, so an increase in profitability is expected this year.”