SEOUL, South Korea, April 20, 2023 /PRNewswire/ -- Samyang Holdings and LG Chem have announced their recent execution of strategic partnership agreement on Thursday, April 20th, for development of novel mRNA-based cancer therapeutics that utilizes Samyang's proprietary drug delivery technology.
Lee Young-Joon, CEO of Samyang Holdings (pictured in the left), and Son Ji-Woong, head of LG Chem’s Life Sciences company (pictured in the right) celebrated the signing of the licensing agreement for NanoReady at LG Science Park, Seoul on April 11th.
Under the terms of the agreement, Samyang Holdings grants non-exclusive rights to "NanoReady" technology and is responsible for supplying its key components to LG Chem, and LG Chem will be implementing "NanoReady" technology to develop innovative mRNA-based cancer therapeutics with maximal therapeutic effects. In return, LG Chem is required to pay upfront and a series of milestone payments upon completion of each developmental objective as in the terms agreed by both parties.
mRNA harnesses genetic information that directs the synthesis of specific proteins. Protective drug delivery systems that safely carry the mRNA to the target cell and mediate effective protein expression are crucial in developing mRNA therapeutics.
"NanoReady" is one of Samyang Holdings' proprietary drug delivery technologies, characterized by its high adaptability to different mRNA molecules. Provided as a pre-made drug delivery formulation, it is expected to significantly reduce development time and time-to-patient, making an impact in the application of personalized therapeutics by streamlining the rigorous mixing process when being compounded with mRNA therapeutic molecules developed by LG Chem.
"LG Chem has exceptional R&D expertise in innovative drug development and a number of promising new drug pipelines," said Young-Joon Lee., CEO, Samyang Holdings Biopharm Division, "Taking this recent deal as a driving force, we will continue to strengthen our partnership with LG Chem. By leveraging the capabilities of the two companies, we hope to accelerate the development of innovative cancer therapy to significantly improve the lives of suffering cancer patients."
Ji-Woong Son, head of LG Chem's Life Sciences company said, "We hope to maximize success through active collaboration between the two companies, with the aim to provide innovative mRNA-based cancer therapeutics to patients worldwide."
About Samyang Holdings Biopharm Division:
The research at Samyang Holdings Biopharm Division ("Samyang") has a strong focus on developing highly effective and safe drug delivery systems (DDS) based on biodegradable polymers and its proprietary formulation technology. In addition to "NanoReady," the company is also accelerating the development of a variety of new mRNA delivery solutions to meet the demands of a broad range of medicines, such as prophylactic vaccines and rare disease therapeutics. Samyang plans to continue investing resources to overcome the challenges imposed upon the existing mRNA delivery technologies by leveraging its unique and proprietary tissue selective delivery technology.
https://www.samyangbiopharm.com/en/index
