IntronBio Makes Strategic Investment in Dermagek, a Microneedle Specialist Company

[Asia Economy Reporter Hyungsoo Park] Intronbio announced on the 21st that it has signed a strategic partnership agreement with Dermajec, a microneedle specialist company, and will make a strategic investment of approximately 2.5 billion KRW.

Dermajec is a company that possesses dissolvable microneedle technology, one of the transdermal drug delivery technologies, and has developed products applying various microneedle technologies. It has set the development of microneedle new drugs as a major future business goal. The company has secured API loading capabilities for synthetic pharmaceutical materials and biopharmaceutical materials, which are technically the most important for developing pharmaceutical patches. It also has quantitative drug delivery technology to target tissues.

The strategic partnership aims to collaborate on product development by loading Intronbio’s ‘Botox substitute candidate substance iN-SIS5,’ which exhibits SNARE complex formation inhibition efficacy, onto microneedles. Additionally, it aims to promote product development cooperation by loading new drug candidates for atopic dermatitis and acne treatment based on endolysin platform technology onto microneedles.

Along with business cooperation, Intronbio decided on a strategic investment. Following the first investment in 2017, it will invest an additional approximately 2.5 billion KRW in Dermajec to acquire new shares. Intronbio will secure the position of the second-largest shareholder in Dermajec.

Baek Kyung-rae, CEO of Dermajec, said, "Microneedle technology-applied new drugs in the biopharmaceutical field can be considered a new future market," and added, "If Dermajec’s drug delivery technology, which has technological competitiveness in the microneedle field, is combined with Intronbio’s various promising biopharmaceutical materials as a leading company in biopharmaceutical development, it will have global competitiveness."

Yoon Kyung-won, CEO of Intronbio, said, "We decided to invest to expand the applicability of not only the iN-SIS5 Botox substitute but also multiple endolysin new drug candidates specialized in bacterial infectious diseases." He added, "Intronbio’s biopharmaceutical materials are innovative new drugs, and securing various formulation technologies is a competitive advantage," and said, "We will further strengthen cooperation in related fields through the strategic partnership."

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