IBK ChangGong Daejeon 3rd Batch Dr. I&B Signs Technology Partnership with Companion Animal New Drug Development Group... "Aiming to Develop PDT Therapeutics"

[Photo by Dr. I&B]

Dr. I&V Co., Ltd. (CEO Song Young-kyu), a bio venture company possessing photodynamic therapy (PDT) technology, is entering into a technology partnership with the Safety Evaluation Institute's Companion Animal New Drug Development Project Group (Director Han Soo-chul) to develop new PDT drugs for cancer treatment in companion animals.

On the morning of the 8th, they signed a memorandum of understanding (MOU) at the Jeonbuk branch of the Safety Evaluation Institute and began strategic consultations for new drug approval and practical development of candidate materials for veterinary pharmaceuticals.

PDT (Photodynamic Therapy) is an advanced treatment method in which a photosensitizer induces chemical reactions upon light exposure, altering intracellular oxygen to selectively destroy bacteria or malignant cells. Since the first-generation photosensitizer was approved by the U.S. FDA in 1995, PDT has been utilized in countries such as the United States and Japan for treating various cancers, including skin diseases, lung cancer, and laryngeal cancer.

Dr. I&V Co., Ltd. began researching laser therapy devices necessary for PDT in 2015 and has been striving since 2020 to develop a patented new photosensitizer substance (‘PP-100’) into a new photosensitizer drug (‘PhotoMed’).

The Companion Animal New Drug Development Project Group of the Safety Evaluation Institute was launched in December 2021 with a funding of 24 billion KRW from the National Research Council of Science & Technology. It focuses on discovering veterinary pharmaceutical materials and evaluating their efficacy, conducting non-clinical studies (GLP) and clinical studies (GCP) to verify these materials, and developing them for practical use (GMP).

With the recent increase in cancer incidence among companion animals and the lack of appropriate anticancer treatments other than surgery, this joint research and technology partnership is a meaningful attempt that could lead to the development of new anticancer drugs in the veterinary pharmaceutical market.

CEO Song Young-kyu of Dr. I&V Co., Ltd. stated, “We aim to develop a PDT drug substance that offers excellent anticancer effects and allows for repeated treatment at a low cost.” He added, “We are also developing third-generation photosensitizers (APC, Antibody-Photosensitizer Conjugate) to further enhance therapeutic effects, as well as new drug substances with nano-structured drug delivery systems, and are pursuing domestic and international patents.”

Meanwhile, Dr. I&V Co., Ltd. was selected as the third cohort in Daejeon for the IBK Changgong program, an innovative startup nurturing program operated by IBK Industrial Bank of Korea, in the first half of this year.