[Click e-Stock] "Selbion, a Dark Horse in the Radiopharmaceuticals Sector"

On July 9, KB Securities analyzed that Selbion, a company developing new targeted anti-cancer drugs based on radiopharmaceuticals, is emerging as a dark horse in the industry.

Founded in 2010, Selbion is focusing on developing innovative therapies using radiopharmaceuticals, including the prostate cancer treatment Lu-177-DGUL.

Kim Hyungyeom, a researcher at KB Securities, explained, "Lu-177-DGUL is an innovative new drug that precisely targets the prostate-specific membrane antigen (PSMA), and is aimed at patients with metastatic castration-resistant prostate cancer (mCRPC) who have developed resistance to existing treatments." Since PSMA is expressed in more than 90% of prostate cancer patients, the treatment is considered to have significant potential.

Lu-177-DGUL works by binding the radioactive isotope Lutetium-177 to PSMA, delivering radiation to cancer cells, inducing DNA damage, and thereby killing the cancer cells. In particular, Selbion has differentiated its therapy from existing treatments through its proprietary linker platform technology.

Kim emphasized, "The linker technology that connects the radioactive isotope and the targeting molecule plays a key role in maximizing therapeutic efficacy and minimizing side effects." He added, "Instead of using the 'amide bond,' which is broken down by protease enzymes in the liver, Selbion applied the 'cygreabond,' which dramatically reduces hepatic metabolism." As a result, the drug's stability in the body is increased, significantly contributing to the reduction of side effects.

Selbion plans to expand its market through broadening indications. The company is currently developing the therapy for late-stage mCRPC patients, with plans to extend the treatment scope to early-stage prostate cancer patients in the future. In addition, Selbion has filed and registered patents for substances, formulations, and methods of administration in 15 countries both domestically and internationally, securing patent rights until 2048, with the aim of global technology transfer by 2027. A phase 2 clinical trial is also underway in Korea.

Notably, Selbion has made meaningful progress in combination therapies with immuno-oncology drugs. Kim stated, "In February, Selbion signed a clinical trial collaboration and supply agreement with Merck for combination therapy with Keytruda, and on June 23, submitted a domestic phase 1 IND for the combination therapy." He stressed, "This is the first attempt in Korea to combine a radiopharmaceutical with an immuno-oncology drug, and it deserves attention." Selbion plans to begin patient dosing within this year after IND approval in the second half of 2025.