Kukdong Invests 3 Billion KRW in Anticancer Drug Company 'Land BioScience'

[Asia Economy Reporter Hyunseok Yoo] Kookdong announced on the 2nd that it has invested 3 billion KRW in Land BioScience as a strategic investor (SI). Through this investment, it plans to enhance its global clinical development capabilities in the field of immuno-oncology.

Land BioScience was established in 2015. Dr. Kyuchan Kim, who served as an expert in innovative drug discovery, evaluation, and global licensing at the global pharmaceutical company Merck, is the CEO. Currently, the company holds a total of five pipelines, including two immuno-oncology drugs such as SCR430.

SCR430 is currently undergoing Phase 1 clinical trials in the EU for the indication of advanced solid cancer. It recently received FDA approval for Phase 1/2 clinical trials targeting resistant lung cancer and cholangiocarcinoma patients in the United States. Kookdong and Land BioScience have agreed to promptly initiate the FDA Phase 1/2 trials through this investment and to collaborate jointly on global clinical development.

Through this investment, Kookdong has expanded its clinical development area into the immuno-oncology field and laid the foundation for securing new pipelines. Currently, there are only three companies worldwide developing clinical trials targeting STAT3, and AstraZeneca is the only global major pharmaceutical company in this area.

Oh Changkyu, CEO of Kookdong, stated, “It is significant that we have secured a first-in-class immuno-oncology drug pipeline regulating the STAT3 signaling pathway, which has recently attracted attention as a new target, and that we are participating in global joint clinical trials.” He added, “We will continue to pursue open innovation by prioritizing the acquisition of innovative new drug candidates and reducing the risks of new drug development through joint clinical development.”

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