[Click eStock] "Attention on Y-Biologics' Fusion Antibody Platform Related to Next Keytruda"

On April 30, independent research firm ValueFinder analyzed Y-Biologics, stating, "It is necessary to pay attention to the company's fusion antibody platform related to 'immunocytokines,' which are being positioned as the next Keytruda and are attracting massive investments from global big pharma."

Lee Chungheon, a researcher at ValueFinder, said, "The company is an antibody drug platform company that was listed on KOSDAQ in 2023 through a technology special listing. Its business model includes preclinical services and licensing out (L/O) through joint development with other biotech companies." He explained, "Since 2016, Y-Biologics has jointly researched YBL-001 with LigachemBio, and in 2020, it out-licensed this asset to Pyxis Oncology for the first time. Including GI Innovation, the company has completed a cumulative total of eight technology out-licensing deals to date."

The researcher added, "Based on its accumulated antibody discovery platform capabilities, the company began full-scale new drug development in 2016. It has adopted a co-development model in which it transfers rights through equity contracts at the discovery stage with partners and shares profits according to equity stakes upon commercialization."

He also mentioned, "The company's antibody platform technology prioritizes possessing superior antibodies regardless of which modality (therapeutic approach) is chosen, such as antibody-drug conjugates (ADC) or antibody-degrader conjugates (DAC). Y-Biologics is discovering antibodies through its Ymax-ABL platform."

In addition, the company has jointly researched and developed the BYH3 ADC (ITC-6146RO) pipeline with IntoCell, led by CEO Park Taegyo, who is a co-founder of LigachemBio and inventor of the core platform technology ConjuAll. It is expected that Y-Biologics will pursue an L/O after the IND in the first half of this year. The company is also continuing collaborations with domestic biotech firms such as HK Innoen and ParkcellBio, in addition to IntoCell.

Furthermore, the researcher analyzed, "Currently, global big pharma companies are pouring massive investments into 'immunocytokines' as the next drugs to succeed Keytruda, whose patent is set to expire in 2028."

He explained, "Summit Therapeutics in the United States is conducting global clinical trials after acquiring the technology for Ivonesimab through a mega-deal worth 72.5 trillion KRW. In this global context, attention should also be paid to the company's Multi-Abkine platform, a bispecific antibody-based cytokine fusion antibody."

However, he added, "It cannot be ruled out that the company may need to raise funds this year to prepare for clinical trials, as its core pipeline is still under continuous research and development and large-scale deals have not yet occurred."