Duol Industry Appoints Global Bio Expert as Director... New Start with OncoQuest

[Asia Economy Reporter Hyungsoo Park] Duol Industry is changing its name to OncoQuest Pharmaceuticals and is embarking on full-scale new drug development.

On the 22nd, Duol Industry held a shareholders' meeting and appointed Madiyalakan, CEO of OncoQuest, Mark Libonan, former director of Quest Pharmatech, and Changhyun Lee, former CEO of Duol Industry, as inside directors. The agenda to appoint Jonathan Berick, professor at Stanford University School of Medicine, Michael Hollingsworth, professor at the University of Nebraska Medical Center Cancer Research Institute, and Kwangchul Ko, former chairman of the Korea Online Newspaper Association, as outside directors was also approved.

Madiyalakan, newly appointed inside director and CEO of OncoQuest Pharmaceuticals, explained, "OncoQuest has conducted research related to ovarian cancer and pancreatic cancer with companies of various nationalities including the U.S., China, and Singapore, centered on outstanding technology, products, partnerships, and capable core personnel."

He continued, "We have successfully completed Phase 2 clinical trials" and said, "we plan to rapidly proceed with Phase 3 clinical trials (FLORA5) to develop a treatment for ovarian cancer, which affects approximately 300,000 women worldwide."

He added, "We will develop innovative therapies to treat cancer."

OncoQuest holds immune antigens targeting ovarian cancer, pancreatic cancer, and metastatic breast cancer as its main pipeline. Duol Industry, renamed OncoQuest Pharmaceuticals, will actively develop new drugs centered on its main pipeline starting from the shareholders' meeting. The ovarian cancer treatment Oregobomab plans to proceed with Phase 3 clinical trials with the U.S. FDA, and the pancreatic cancer treatment will start Phase 1/2 clinical trials simultaneously.

Among the newly registered executives, foreigners were unable to attend the shareholders' meeting due to the impact of the novel coronavirus infection (COVID-19). They observed the progress of the shareholders' meeting through a video conference and expressed their aspirations after the approval of the appointment agenda.

This content was produced with the assistance of AI translation services.