Estec Pharma Signs Business Agreement with Nasdaq-Listed Alpha Tau Medical

[Asia Economy Reporter Minji Lee] Pharmaceutical developer Estech Pharma announced on the 9th that it is seeking to expand its global market by partnering with Israeli medical device company Alpha Tau Medical (Alpha Tau). To this end, Estech Pharma signed a memorandum of understanding (MOU) with Alpha Tau at its Seoul office to strengthen collaboration in research and development, manufacturing, and production.

Estech Pharma has a product portfolio of about 50 specialty pharmaceuticals, including thrombosis treatments, diabetes treatments, and gastric ulcer treatments. Recognized for its expertise in organic synthesis technology, chiral synthesis technology, and ultra-low temperature reaction technology, the company was selected as a Global Small Giant by the Ministry of SMEs and Startups in April and subsequently as a Small Giant by the Ministry of Employment and Labor in May. Estech Pharma is aiming to diversify its sales into major markets such as Europe and China, in addition to its existing core market, Japan.

Alpha Tau is the developer of Alphadart, an innovative cancer treatment using alpha radiation. Alphadart has been designated by the U.S. Food and Drug Administration (FDA) as an innovative medical device for the treatment of skin and oral squamous cell carcinoma and recurrent glioblastoma. Alpha Tau is currently conducting numerous clinical trials worldwide and visited Korea to discuss collaboration with hospitals, universities, and companies.

This MOU is a follow-up to Estech Pharma’s investment in Alpha Tau. In January, Estech Pharma made a strategic investment of approximately 15 billion KRW in Alpha Tau, with Yozma Group Korea participating as the lead investor. Through Yozma Group Korea, the two companies identified common interests, leading to this agreement. In addition to its core business of manufacturing active pharmaceutical ingredients and intermediates, Estech Pharma is putting special effort into strategic investments to expand R&D. The company holds a portfolio of about ten companies, including investments in new drug developer Billix in 2019 and medical microneedle platform specialist Quad Medicine in 2020.

Kim Jae-cheol, CEO of Estech Pharma, stated, “Estech Pharma recognizes Alpha Tau’s innovative technology and has already invested about 15 billion KRW through a fund. Through this agreement, we will spare no effort and support to introduce innovative medical devices that can bring hope to cancer patients in Korea.”

This content was produced with the assistance of AI translation services.