Wednesday, June 13, 2007
A Co-Development Contract Between 'Dong-A Pharm' and 'Genexine' as Win-Win Model to Prepare the International Competition After the FTA Between Korea
Posted : Wed, 13 Jun 2007 07:01:59 GMT
Author : Genexine Co., Ltd.
SEOUL, South Korea, June 13 /PRNewswire/ -- Dong-A Pharmaceutical (CEO Won-Bae Kim), the leading Pharmaceutical company, and Genexine (CEO, Young Chul Sung), a drug development biotech, entered into an collaboration agreement by signing a contract of the Product co-development. The contract encompasses co-commercialization of 1st generation protein drugs under developing in Dong-A and co-development of 2nd generation protein drugs using Genexine's propriotery hybrid Fc-fusion technology. To prepare for the intensive competition after KORUS FTA ratification, Dong-A has spent a lot of efforts to reinforce its development pipelines for new drugs. Genexine is hoping to launch products in the market as soon as possible after its planned Initial public offering (IPO). Thus, this contract can be considered as strategic alliances which can be beneficial for both companies.
Through the contract, both companies will make efforts to commercialize 'Gonadopin' for foreign markets which is rolled out in the domestic market last year. Gonadopin is a recombinant human follicle-stimulating hormone (rFSH) used for infertility treatment. Furthermore, both companies agreed to collaborate for co-development and co-commercialization of rFSH and recombinant IFN-B, a drug for multiple sclerosis, which comply with the guidelines of EMEA (European Agency for the Evaluation of Medical Products) and FDA (Food and Drug Administration). As of 2006, the global markets for rFSH and rIFN-B are estimated at $10.4 billion and $44 billion, respectively. We expect to launch rFSH and rIFN-B at 2014 with the estimate sales of $38 Million (2% of the global market) and 46 Million (1% of the global market), respectively. Furthermore, the agreement for the co-development of 2nd generation of FSH and IFN-B using hybrid Fc fusion, a Genexine's proprietary technology will be beneficial to both companies in terms of the development period and risk-management. At 2017 when the 2nd generation drugs of FSH and IFN-B are expected to be launched, both companies would lead the global markets for FSH and IFN-B.
Dong-A Pharmaceutical Co., Ltd.
Since founded at 1932, Dong-A Pharm is the leading pharmaceutical company in the country in terms of revenues with Bacchus as its primary product, which has the largest sales volume as a single item. Dong-A became the first pharmaceutical company with its revenues more than KRW 500 billion at 2002 and recorded revenues of KRW 576.7 billion. The affiliates include Dong-A Pharmtech, DAC, Dong-A Otsuka, Sooseok Agricultural Products, Sozhou dong-A Beverages, Yongma Logis, Qingdao Jin-A Glass, Korea Shinto, DA Information etc.
Genexine Co., Ltd.
Genexine is a drug developing company founded at 1999 as a spin-off from Postech (Dr. Young Chul Sung's lab). Genexine has been devoted to develop therapeutic vaccines using DNA and Adenovirus vectors and 2nd generation protein drugs using hybrid Fc fusion technology for difficult-to-treat and incurable diseases such as AIDS, chronic HBV infection, cancers etc. Recently, Genexine licensed out hybrid Fc-fusion technology-based 2nd generation protein drugs for autoimmune diseases, such as rheumatoid arthritis, and anemia. Fc-fusion technology
Fc-fusion technology is one of the technologies for 2nd generation protein drugs. It can prolong the in vivo half-life of the target proteins by fusing the Fc portion of antibodies.
Contact Person Dr. Dong-Jin Yoo E-mail: email@example.com or firstname.lastname@example.org Genexine Co., Ltd.
CONTACT: Dr. Dong-Jin Yoo, of Genexine, email@example.com or
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