LG Chemical327,5007,500 -2,24%) Immune cancer drugs are developed.
LG Chem today announced it will jointly develop three pre-clinical trials of Q-BiboPharma in the United States and new immunotherapeutic drugs at the candidates stage. Qubio Pharma is a listed company in the NASDAQ, which expands the medicines of cancer, autoimmune and chronic infectious diseases based on immunotherapy technology.
Both companies are planning to jointly develop and commercialize products in Asia (LG Chem) and outside of Asia (Qibao Pharma). LG Chem only provides Asia's regional rights.
To this end, LG Chem will pay Kuwait Pharma a maximum of about $ 400 million, including equity investments, initial payments and turnaround payments for performance and commercialization. After commercialization, the company decided to pay royalties based on sales in Asia.
LG Chem has gained the right to acquire one global name for another new drug, Qibao Pharma, over two years from the deal.
The QB biomarker technique is an optional explanation that T cells can be directly regulated in the body. It differs from the existing T cell therapy, which extracts and activates the patient's T cells and is re-injected into the body.
LG Chem will carry out research on manufacturing process and quality control (CMC) and will receive royalties from Qubio Pharma in line with its achievements.
"We will do our utmost to develop innovative therapies against cancer patients," said Jingun Jung, head of the LG Chem Life Science business unit. "We work together to develop innovative selective T cell control technologies for the QBiPharma and LG Chem Strategic Alliance with biopharmaceutical development and production capabilities." He said.
Han Min-soo Hankyung.com reporter [email protected]
Ⓒ Han Kyung dot com, reprinting and redistribution is prohibited