BridgeBio Emphasizes Innovation... "Overcoming Global Crisis"

Bridge Biotherapeutics Holds New Year IR Corporate Presentation

Lim Jong-jin, Executive Vice President of Strategy at Bridge Biotherapeutics, is giving an online corporate presentation on the 18th at the company headquarters in Seongnam, Gyeonggi Province. / Photo by Bridge Biotherapeutics

[Asia Economy Reporter Myunghwan Lee] Bridge Biotherapeutics is taking steps to enhance its undervalued corporate value.

At the investor conference held on the 18th, the company presented three key management themes: global technology licensing, securing new projects, and creating new business opportunities. First, the company prioritized rapid revenue generation, focusing on the lung cancer project, which is currently under technology licensing negotiations. The lung cancer targeted therapy pipelines ‘BBT-176’ and ‘BBT-207’ have attracted attention and have entered concrete negotiation stages for a package deal. The company also stated that development of ‘BBT-877’, being developed as a treatment for idiopathic pulmonary fibrosis, has resumed discussions with existing partners as clinical Phase 2 approval from the U.S. Food and Drug Administration (FDA) has been granted and development is progressing in earnest.

In terms of strengthening research and development, the company expanded the infrastructure of its Pangyo headquarters research center to more than three times its previous size. The company also explained that it has thoroughly reinforced its research and clinical teams in terms of key personnel. By recruiting staff in the clinical development sector and internalizing clinical capabilities, the company expects to reduce development costs by approximately 10 million USD (about 12 billion KRW), which is the standard cost for anticancer drug development. While conducting innovative anticancer drug discovery research based on chemoproteomics technology centered at the Boston Discovery Center, operated as a U.S. subsidiary, the company is also seeking opportunities for reviewing new technologies and collaborations in the U.S. and European regions.

Lim Jongjin, Executive Vice President of Strategy, said, "To overcome the crisis caused by the global economic downturn, we will solidify our unique capabilities and steadily grow as a global biotech company," adding, "We will strive to quickly deliver business results that meet expectations and raise corporate value."