Kumho HT to Merge with Duol Mulsan, Invests 21 Billion Won in 'Landgo'... "Advancing Anti-Cancer Bio Business"

[Asia Economy Reporter Jang Hyowon] Kumho HT, which succeeded in merging with KONEX company Dynona just one year after investing in its shares last year, has now decided to invest in K-OTC company Duol Mulsan, marking the start of its full-scale bio business.

Kumho HT announced on the 16th that following last year's merger with antibody therapeutic developer Dynona, it has decided to invest 21 billion KRW in Landgo, which is scheduled to merge with Duol Mulsan, a company developing immuno-oncology drugs.

Landgo plans to comprehensively acquire immuno-oncology drug IP from its subsidiary ‘MHC&C’ through ‘OQP Bio’ and proceed with development. Kumho HT is expected to transition into a specialized bio company through this investment.

Among the immuno-oncology drugs that Duol Mulsan will develop after acquiring them from OQP Bio, the leading monoclonal antibody ‘Oregovomab’ showed encouraging results in a Phase 2 clinical trial targeting ovarian cancer patients, with a progression-free survival period extended by 30 months compared to the control group, reaching 42 months.

The global Phase 3 clinical trial of Oregovomab is currently underway. It is being conducted at 106 global sites across the United States, Europe, and Asia, and in South Korea, it is ongoing at six hospitals including Seoul National University Bundang Hospital.

Han-ik Na, CEO of Duol Mulsan, stated, “The focus is no longer on whether Oregovomab will succeed in Phase 3 trials, but on how commercially successful it will be.”

Evaluate Pharma, a leading global pharmaceutical market research firm, assessed that if Oregovomab achieves results in Phase 3 similar to those in Phase 2, it could reach annual sales of 11 trillion KRW. Unlike early-stage technology exports that receive single-digit royalties, after successful Phase 3 trials, sales can be conducted through a CSO (contract sales organization), allowing the company to retain most of the profits, according to the company.

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