Daewoong Pharmaceutical Forms Joint Venture with UK Biotech Company to Develop Immunological Disease Treatments
[Asia Economy Reporter Choi Dae-yeol] Daewoong Pharmaceutical announced on the 8th that it has signed a partnership agreement to establish a joint venture with the UK-based biotechnology company Abakta.
Abakta is a developer of protein therapeutic platforms, and the new joint venture will conduct research and development of immune disease treatments based on a cell therapy platform. The CEO of the joint venture will be Jeon Seung-ho, president of Daewoong Pharmaceutical. Utilizing the technologies held by both companies, the joint venture will be responsible for research on function-enhanced stem cells and the development of therapeutics based on this.
Daewoong Pharmaceutical will provide a license for mesenchymal stem cell technology, while Abakta will provide a license for specific target-specific aptamer technology. Abakta’s aptamer technology is a protein therapeutic platform based on one of the naturally occurring proteins in the body. The company explained that aptamer proteins are antibody-like proteins with characteristics similar to antibodies, but are one-tenth the size of conventional antibodies, offering significant advantages in tissue penetration. Daewoong Pharmaceutical’s stem cell platform (DW-MSC) consists of mesenchymal stem cells derived from embryonic stem cells and induced pluripotent stem cells (reprogrammed stem cells). Unlike conventional adult tissue-derived mesenchymal stem cells, which have a limited number of culture passages, this platform enables mass production.
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President Jeon Seung-ho stated, "By combining the technologies of the two companies, we will be able to establish a new non-antibody protein therapeutic paradigm that overcomes the limitations of existing antibody-based therapies." Alastair Smith, CEO of Abakta, said, "This will be an important milestone in developing innovative drugs capable of treating immune-mediated diseases."
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