April 24, 2024
Bio
AnyGen seeks global partner to sell new breast cancer drug
[THE INVESTOR] AnyGen, a South Korean biotech venture focused on manufacturing peptide, is putting impetus on developing new drugs to export its drug-making technology to global pharmaceutical companies next year, the company’s chief said Nov. 22.
“To secure a new growth engine, AnyGen aims to find a global partner to transfer technology of its new drug candidate AGM-130 in the second half of 2017,” said the firm’s CEO Kim Jae-il in a press conference for its planned initial public offering held in Seoul.
AGM-130, which is designed to treat breast cancer patients who have become resistant to traditional drug tamoxifen, is one of the drugs in its pipeline. Its phase 1 clinical trials are currently ongoing since last year.
Having technology to manufacture peptides which are widely used in medicine, cosmetics and food products, AnyGen has a high-profile client list.
The list includes cosmetics firm AmorePacific, LG Household & Health Care and big pharma companies like Yuhan and Chong Kun Dang Pharmaceutical.
AnyGen has a total of 20 types of peptides as active Pharmaceutical Ingredients that are set to be commercialized. Among them, four have won approval from the country’s Ministry of Food and Drug Safety.
“The comprehensive portfolio has become a cash cow for the company,” the CEO said.
Founded in 2000, as a laboratory venture company at Gwangju Institute of Science & Technology, the firm posted an operating loss of 1.18 billion won (US$1 million) and revenue of 3.72 billion won in 2015.
The biotech firm plans to be listed on the tech-heavy KOSDAQ in December with the investor book building expected to begin on Nov. 28.
By Park Han-na (hnpark@heraldcorp.com)
“To secure a new growth engine, AnyGen aims to find a global partner to transfer technology of its new drug candidate AGM-130 in the second half of 2017,” said the firm’s CEO Kim Jae-il in a press conference for its planned initial public offering held in Seoul.
AGM-130, which is designed to treat breast cancer patients who have become resistant to traditional drug tamoxifen, is one of the drugs in its pipeline. Its phase 1 clinical trials are currently ongoing since last year.
Having technology to manufacture peptides which are widely used in medicine, cosmetics and food products, AnyGen has a high-profile client list.
The list includes cosmetics firm AmorePacific, LG Household & Health Care and big pharma companies like Yuhan and Chong Kun Dang Pharmaceutical.
AnyGen has a total of 20 types of peptides as active Pharmaceutical Ingredients that are set to be commercialized. Among them, four have won approval from the country’s Ministry of Food and Drug Safety.
“The comprehensive portfolio has become a cash cow for the company,” the CEO said.
Founded in 2000, as a laboratory venture company at Gwangju Institute of Science & Technology, the firm posted an operating loss of 1.18 billion won (US$1 million) and revenue of 3.72 billion won in 2015.
The biotech firm plans to be listed on the tech-heavy KOSDAQ in December with the investor book building expected to begin on Nov. 28.
By Park Han-na (hnpark@heraldcorp.com)
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