Published date: May 2nd, 2022
[The Yakup| Reporter Kwon Hyuk-jin]
Co-development and strategic business cooperation of a biocompatible polymer-based drug delivery system strategic business cooperation
BioPlus (CEO Jung Hyun-kyu) announced on May 2 that it signed an agreement with PHI BIOMED (CEO Hahn Sei-kwang), a drug delivery system company, on joint development of a biocompatible polymer-based drug delivery system and strategic business cooperation to drastically improve the stability and sustainability of biopharmaceuticals.
The final goal of this agreement is to develop a smart nano-medicine with significantly improved therapeutic effect by combining biopharmaceuticals already secured or under R&D by BioPlus with high biocompatibility polymer formulation technology, with improved stability and duration of efficacy. In addition, the two companies agreed to collaborate throughout the entire process, ranging from the distribution and sale of existing or newly developed products.
Through cooperation between the two companies in the future, it is expected to greatly contribute to improving patient convenience and quality of life by combining PHI Biomed’s R&D capabilities for bio-plus’ accumulated formulation development technology and mass production technology.
In addition, BioPlus and PHI BIOMED expect to expand their entry into the domestic and foreign markets through commercialization cooperation for products that will be jointly developed with existing commercial products.
BioPlus is co-developing various biological drug materials with its subsidiary Ubiprotein, and is developing them in the form of Western injections, oral agents and percutaneous agents. Based on this, the company expects to create demand in the new treatment market, which improves user convenience, safety and effectiveness.
PHI BIOMED is a company founded by Hahn Sei-kwang, a professor of new materials engineering at Pohang University of Science and Technology, specializes in the development of plastic and medical materials, biopharmaceutical drug delivery systems, regenerative medicine for tissue engineering, and smart contact lenses for diagnosis and treatment. The company was also named the Innovation Company’s National 1000 in 2021.
Based on Professor Hahn Sei-kwang’s world-class research results on hyaluronic acid derivatives and years of research experience at LG Life Sciences and Hoffman-La Roche Group, BioPlus said its strategy to grow into a global biopharmaceutical company that can compete with multinational pharmaceutical companies.
BioPlus Chairman Jung Hyun-kyu said, “We will be able to achieve high synergy through cooperation between the two companies that have long-term research on drug delivery using biopolymers and have useful material development technology and production experience.” He also added, “It is expected that continuous treatments that can be used safely and conveniently for various diseases will be introduced in various formulations.”
In addition, he said, “We expect to build a new market through stable market entry by utilizing our domestic and foreign sales network and research capabilities of PHI BIOMED.”
The Yakup| Reporter Kwon Hyuk-jin, firstname.lastname@example.org