[Media Releases] [News Tomato]Evolving from synthetic drug to next generation bio medicine.
Title: News Tomato– Evolving from synthetic drug to next generation bio medicine. Publication: News Tomato Date: 17 April 2012
Summary
LegoChem reported “recent increasing interests in “bio-similar” must move on to the next level, “bio-better”. Around 20 global pharmaceutical companies are striving to develop Antibody-Drug Conjugates (ADC) technology. LegoChem has developed a novel ADC technology after 3 years of research that can help the company grow into a global level.” CEO of LegoChem Bioscience, Yong Zu Kim is an expert in developing synthetic drugs. He experienced R&D process of over 15 drugs, including antibiotics, anticoagulants and oncology. Anticoagulant ‘GCC4401C’ was licensed-out to Green Cross in 2009 and is now going through clinical study phase 1 in the United States. At the end of last year, LegoChem licensed-out super antibiotics that showed better medicinal effect on MRSA and VRE in preclinical study than Pfizer’s Zyvox. The antibiotics is very soluble that it can be produced either in injections or pills. The new antibiotics was selected for ‘Korea Drug Development Fund’, which promises to fund 50% of development costs for next 17 months. Last March, the clinical study phase 1 for the antibiotics was started in Seoul Asan Hospital. Since 2007, LegoChem Bioscience has been funded approximately $120 million by 5 different venture capitals in more than 3 times. Especially Atinum Invest, Inc. and Donyang Investment have demonstrated their strong trust in LegoChem by participating in at every investment period. Executive director of Atinum Invest, Inc., Jang Seok Hwang pointed out human resources structure and research-development ability are main factors to decide investment. He said “founders of LegoChem are focusing on development of new drugs with excellent entrepreneurship” and also explained “the company is generating stable results based on its annual business plan and that gives us trust to decide continued investment.” He also evaluated LegoChem’s pipelines can be applied to various other areas so that he is looking forward to international recognition on LegoChem's technology.
To view the full article (in Korean), click here ▶ About LegoChem Biosciences LegoChem Biosciences, Inc. (LCB) is a research-based biotechnology company dedicated to discovering, developing, and commercializing innovative medicines by leveraging our chemistry expertise to make conventional biologics targeted and more potent for the benefit of patients with diseases of high unmet medical needs. We are advancing sustainable pipelines in therapeutic areas in antibiotics, anti-coagulants, oncology, antibody-drug conjugate (ADC), and protein-drug conjugate (PDC). |
