Iljin Group Launches New Drug Development... First Cancer Treatment Expected in 2025

Development of Anticancer Therapeutics Based on Targeted Protein Degradation Technology by 2025

Park Sang-hoon, CEO of Iljin S&T, is presenting the vision for 'Innovative Anticancer Drug Development.'

[Asia Economy Reporter Kim Cheol-hyun] Iljin Group is directly engaging in new drug development. Iljin Group announced that Iljin S&T, a bio new drug development company led by CEO Park Sang-hoon, presented its 'Vision for Innovative Anti-Cancer Drug Development' on the 20th at the InnoPharm Research Center.

Iljin S&T plans to establish seven anti-cancer related pipelines by 2022 and, in the mid to long term, internalize a targeted protein degradation technology platform by 2025, based on which it will develop anti-cancer therapeutics.

Iljin Group explained that this signifies a shift from the previous indirect method of investing in promising domestic and international bio companies to a direct approach where the company itself develops new drugs.

Since 2011, Iljin S&T has invested in the Canadian pharmaceutical company Aurinia, and in January this year, Aurinia's treatment for the intractable disease lupus nephritis, LUPKYNIS, received approval from the U.S. FDA and is currently sold in the United States. Previously, in 1990, the U.S. bio venture company ETEX, invested in by Iljin Group, received U.S. FDA approval in 1996 for a new pharmaceutical substance used as a bone substitute.

Park Sang-hoon, CEO of Iljin S&T, emphasized, "Since last year, we have recruited experts in bio industry development, and in the first half of this year, we opened a dedicated new drug development division and research center, completing preparations for innovative new drug development," adding, "We will grow into a global top-tier company in the field of targeted protein degradation technology."

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