Canaria Bio announced on the 3rd that CEO Han-ik Na will personally participate in 'BIO-Europe Spring' to hold meetings for information sharing and licensing agreements with numerous multinational pharmaceutical companies.
BIO-Europe Spring is an event where global pharmaceutical and biotech companies, as well as related investors, gather to discuss collaboration. It will be held in Basel, Switzerland, from the 20th to the 22nd (local time).
CEO Han-ik Na stated, "Over the past year, we have initiated partnership discussions with numerous multinational pharmaceutical companies and have already signed confidentiality agreements for due diligence with eight companies. However, to secure better contract terms, we plan to engage in discussions with more multinational pharmaceutical companies to foster competition," explaining the reason for participating in this event.
Canaria Bio plans to distribute Oregovomab globally through partnerships, excluding the U.S. market. In the U.S., the company aims to achieve an overall operating profit margin of over 50% through direct distribution. The global pharmaceutical market research firm Evaluate Pharma has predicted that Oregovomab could generate sales of up to 6 trillion KRW in the U.S.
Oregovomab is a new drug that showed encouraging results in Phase 2 clinical trials, with progression-free survival (PFS) extended by 30 months compared to the existing standard treatment, reaching 42 months. Currently, a global Phase 3 clinical trial targeting ovarian cancer patients began in October 2020, and interim results are expected as early as the second quarter.
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