Prestige BioPharma IDC (Innovative Discovery Center, hereinafter IDC) announced on the 14th that it has signed an agreement to start joint research and development of innovative antibody new drugs with the domestic bio company Senericx. The signing ceremony took place at the IDC headquarters in Busan, attended by Go Sang-seok, CEO of IDC, and Kim Bong-cheol, CEO of Senericx.
This joint development is an open innovation project in which IDC, the antibody new drug research institute of the Prestige BioPharma Group, collaborates for the first time with a domestic biotech company. Through this agreement, IDC will be responsible for developing cell lines for new target candidate antibodies being developed by Senericx. IDC possesses its own antibody platform technology used in cell line development research.
Cell line development is the most critical process in the early stages of new drug development, where target antibody genes are recombined and cultured within host cells to produce recombinant antibody proteins, the raw materials for biopharmaceuticals. High-quality cell line development directly affects subsequent production stages and product productivity, requiring a technically meticulous process. Prestige BioPharma IDC will conduct joint research aiming at cell line development for Senericx’s antibody new drug substances by utilizing its accumulated antibody platform technology know-how.
Senericx is a bio-venture company aiming to develop new drugs for Alzheimer’s disease, fibrosis, and cancer treatment based on novel target candidate antibodies that regulate cellular senescence and immune aging. Since its establishment in 2021, it has achieved active research and development results, including selection for TIPS and the National New Drug Development Project (KDDF). Both companies expect that through this joint research and development agreement, they will smoothly complete cell line development and enter full-scale preclinical/clinical development.
Go Sang-seok, CEO of Prestige BioPharma IDC, said, “If we successfully complete the antibody new drug joint development project with a biotech company for the first time and build a portfolio, the open innovation business, which can drastically reduce the limitations of new drug development costs through collaboration with various companies in the future, will gain momentum.”
Additionally, Kim Bong-cheol, CEO of Senericx, stated, “This joint development will not only accelerate the development of our innovative new drugs but is also expected to become a good example of win-win open innovation in the challenging investment environment of the bio ecosystem. We will strengthen the cooperation model between the two companies and create a new model for new drug development bio-ventures.”
Meanwhile, Prestige BioPharma IDC plans to accelerate its open innovation business to diversify revenue models of the new innovative drug research institute, which will be completed this summer, starting with this collaboration model with biotech companies. This initiative aims to ▲increase efficiency and reduce costs through joint development, ▲generate revenue by activating the cell line development business, and ▲realize ESG through building a win-win model with biotech companies, thereby creating new competitiveness.
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