Peptron Completes Technology Validation for Targeted Anticancer Antibody Therapy with China's Chiru Pharmaceutical

Receipt of Remaining Contract Payment of $1.61 Million for PAb001-ADC Technology Transfer

[Asia Economy Reporter Lee Gwan-joo] Peptron announced on the 28th that the verification for the technology transfer of its targeted anticancer antibody therapeutic candidate 'PAb001-ADC' to China's Chiru Pharmaceutical has been completed, and the remaining contract payment has been confirmed.

Peptron signed a technology transfer contract worth $543.61 million with Chiru Pharmaceutical in March last year. The remaining contract payment to be received as a technology transfer fee for this data transfer is $1.618 million. An advance payment of $3 million was received earlier.

'PAb001' is Peptron's first antibody new drug applying the 'PepGen' technology, which can induce antibodies targeting specific targets using peptides, characterized by binding to 'Mucin1 (MUC1)', a cancer cell-specific cell surface glycoprotein.

Peptron has been developing therapeutics and conducting technology cooperation for cancers induced by MUC1 overexpression using PAb001. PAb001-ADC has signed a technology transfer contract with Chiru Pharmaceutical, and is jointly developing next-generation 'CAR-NK' immuno-oncology cell therapeutics with Therabest, an induced pluripotent stem cell (iPSC)-based NK cell therapy company.

Choi Ho-il, CEO of Peptron, said, “There were many challenges during the one-year evaluation, but they were overcome through numerous tests and discussions,” adding, “We will receive additional milestones according to the IND schedule, contributing to the company's revenue growth, and rapidly advance the clinical development of PAb001-ADC, characterized by complete remission, to develop therapeutics for patients suffering from cancer.”