K-OTC Registered Duol Mulsan "Promoting Business by Comprehensive Transfer of Bio Assets from OQP Bio"

[Asia Economy Reporter Jang Hyowon] Duol Mulsan, registered on K-OTC, announced on the 19th that it has comprehensively acquired bio-related intellectual property (IP) from OQP Bio and plans to proceed with the bio business through its subsidiary.

OQP established a new division by splitting off its bio business unit OQP Bio and the investment and manufacturing management division 'Duol Mulsan Holdings' through an extraordinary general meeting of shareholders in July this year. OQP Bio holds the bio-related asset IP previously owned by OQP.

OQP Bio possesses a new drug pipeline targeting indications such as ovarian cancer, pancreatic cancer, and metastatic breast cancer. Among them, the ovarian cancer immunotherapy drug 'Oregobomab' is the most advanced in the new drug development stage.

Oregobomab has already signed a contract with IQVIA, the world's number one clinical trial contract organization, and is conducting global Phase 3 clinical trials approved by the U.S. FDA in 11 countries worldwide. In South Korea, patient recruitment for clinical trials has begun at Bundang Seoul National University Hospital, Seoul Asan Medical Center, Korea University Anam Hospital, Yonsei Severance Hospital, Catholic St. Mary's Hospital, and the National Cancer Center.

An OQP Bio official stated, "As a result of conducting Phase 2 clinical trials combining Oregobomab with existing chemotherapy, we obtained encouraging results showing progression-free survival (PFS) of 41.8 months, approximately 30 months longer than the control group (existing chemotherapy)." He added, "Since U.S. Phase 3 clinical trials typically pass if they show about 50% or more improvement compared to existing treatments, expectations for Oregobomab are high."

Meanwhile, Duol Mulsan revealed in a disclosure response that it is proceeding with the absorption merger of its parent company 'Duol Mulsan Holdings' and subsidiary 'Landgo,' and through the subsidiary 'MHC&C,' which will be incorporated into Duol Mulsan through this merger, it plans to comprehensively acquire OQP Bio's bio assets.