BioPlus invests 2.3 billion KRW in Procell Therapeutics... Joint development of botulinum toxin

[Asia Economy Reporter Lee Gwan-joo] BioPlus announced on the 13th that it has decided to invest 2.34 billion KRW in Procell Therapeutics, a company developing recombinant proteins and drug delivery systems.

With this investment, BioPlus will acquire 520,000 new shares of Procell and become the second largest shareholder (with a 7.3% stake). Additionally, together with its subsidiary UbiProtein, BioPlus plans to jointly promote research and development of next-generation botulinum toxin products.

To this end, the three companies plan to collaborate throughout the entire commercialization process, from the development of raw materials and formulations to preclinical and clinical research, regulatory approval, technology transfer, and distribution and sales. UbiProtein will be responsible for developing recombinant genes and strains of long-acting light-chain botulinum toxin, Procell will focus on developing drug delivery peptides with peripheral nerve cell targeting functions, and BioPlus will handle preclinical and clinical research, production of clinical samples and products, product approval, and sales.

A BioPlus official stated, “We will maximize synergy by combining UbiProtein’s core technology platform for extending the half-life of protein therapeutics, Procell’s peptide drug delivery development capabilities applying protein gene recombination technology, and our accumulated formulation development, mass production technology, and sales power.” He added, “Through this, we aim to succeed in developing and commercializing innovative botulinum toxin products and establish them as a new cash cow for the company.”

BioPlus is also pursuing joint development of treatments for diabetes and obesity with Procell, in addition to next-generation botulinum toxin products. The goal is to develop an improved oral formulation drug that enhances dosing convenience compared to existing once-daily injectable therapies by combining the bio-better material with an extended half-life of the GLP-1 derivative liraglutide, jointly developed by BioPlus and UbiProtein, with Procell’s drug delivery system that improves intestinal mucosal permeability.