GI Innovation Collaborates with Medirama on Immuno-Oncology Drug Development

Joint Development of Two New Immuno-Oncology Drugs... A New Collaboration Model Sharing Profits After Commercialization

[Asia Economy Reporter Jihee Kim] GI Innovation announced on the 29th that it has signed a business agreement with Medirama, a clinical development specialist company, to collaborate on the development of new immuno-oncology drugs. Through this agreement, both companies aim to accelerate the successful clinical development and commercialization of GI Innovation's early pipeline and establish a system for new drug development strategy formulation and execution.

Specifically, they will maximize synergy by combining their experience, expertise, and human and material infrastructure across the entire new drug development cycle, including ▲non-clinical and translational research ▲clinical development ▲commercialization strategy. Notably, the collaboration includes joint development of two new immuno-oncology drugs from GI Innovation and a new cooperation model where a portion of the profits will be shared after commercialization.

Founded in 2017 by Chairman (CSO) Myungho Jang, GI Innovation has previously licensed its major pipelines?immuno-oncology drug GI-101 (China Simcere) and allergy treatment GI-301 (Yuhan Corporation)?at a total value of 2.3 trillion KRW during the non-clinical stage. Currently, global clinical phases 1 and 2a and domestic phase 1 trials are underway. Additionally, last year, GI Innovation signed a joint clinical partnership with Merck (MSD) for the combination trial of ‘GI-101 + Keytruda’ and agreed to receive Keytruda free of charge.

Medirama provides consulting services for clinical trial strategy formulation, clinical progress, technology transfer support, and IPO preparation for new drug development companies. It was founded this year by Chief Scientific Officer (CSO) Hanlim Moon, Chief Executive Officer (CEO) Chunyeop Lee, Chief Operating Officer (COO) Sang-eun Joo, and Chief Financial Officer (CFO) Youngguk Cho. Notably, CEO Moon is a hematology-oncology specialist who served as an oncology R&D director for 18 years at global multinational pharmaceutical companies such as GSK, Sanofi Aventis, and Mundipharma.

GI Innovation CEO Junho Hong stated, “Convergent research, where experts from various fields come together to produce results, is emerging as a trend. Through this agreement, we will combine the experiences of new drug development experts at GI Innovation and Medirama to create new successful cases in drug development.”