Daewoong Pharmaceutical Signs Joint Development Agreement for Exosome Therapeutics with Exosystemtec

[Asia Economy Reporter Seo So-jung] Daewoong Pharmaceutical (CEO Jeon Seung-ho and Lee Chang-jae) announced on the 6th that it signed an agreement on the 5th at its headquarters in Samseong-dong with bio venture Exosystemtec (CEO Jo Yong-woo) for the joint development of stem cell-derived exosome therapeutics.

Based on this agreement, Daewoong Pharmaceutical plans to collaborate with Exosystemtec to develop next-generation exosome therapeutics. According to the agreement, both companies will establish technology to extract and purify exosomes from Daewoong Pharmaceutical's DW-MSC stem cells, conduct expanded research on exosome therapeutics, and jointly develop new indications. Additionally, clinical joint development cooperation and technology transfer of pipelines owned by Exosystemtec are also possible.

Exosystemtec, established in 2016, is a bio venture company developing various treatments for intractable diseases based on stem cell exosomes. Its pipeline includes exosome therapeutics for degenerative arthritis, exosome therapeutics for liver fibrosis, and photolabile protein delivery technology.

Daewoong Pharmaceutical will participate as a strategic investor (SI) in Exosystemtec and plans to cooperate with Exosystemtec in joint development and overseas license-out. They will also pursue the establishment of new business models through mid- to long-term cooperation.

Jeon Seung-ho, CEO of Daewoong Pharmaceutical, said, "Through this memorandum of understanding (MOU), Daewoong Pharmaceutical and Exosystemtec will jointly develop exosome therapeutics for new indications."

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