April 20, 2024

• 

[THE INVESTOR] Bukwang Pharmaceutical said on July 24 that its subsidiary Dyna Therapeutics plans to go public on the country’s secondary bourse KOSDAQ next year.

Dyna Therapeutics, wholly owned by the Korean drug maker, is a biotech firm focusing on the development an oncology drug candidate targeting prostate cancer. 

The preclinical candidate has applied Lymphatic Targeting Technology, which was in-licensed from Denmark-based Solural Pharma in 2016, to enhance therapeutic efficacy by making oral bioavailability of the drug unaffected by food that patients have.

Dyna Therapeutics plans to complete preclinical studies by the end of 2018 to initiate phase 1 trials next year, according to Bukwang.

Along with the oncology therapy developer, Bukwang also announced its plan to list two more units on the KOSDAQ market -- Denmark’s Contera Pharma and a joint venture to be set up with local chemical company OCI.

“The investment returns that will occur when affiliates go public and their businesses grow can help solidify Bukwang’s financial structure and expand its drug pipeline,” a Bukwang official said.

By Park Han-na (hnpark@heraldcorp.com)