CanariaBio Unveils CI... "Reflecting Commitment to Immuno-Oncology Drug Development"

[Asia Economy Reporter Hyungsoo Park] Duol Mulsan announced on the 15th that it will unveil the new CI (Corporate Identity) of Canaria Bio, a merged corporation with Duol Mulsan Holdings, which was spun off from Diarc.

CEO Nahanik said, "The bird Canaria symbolizes joy and peace," adding, "The new CI reflects our determination to develop a side-effect-free immuno-oncology drug that can improve patients' quality of life and provide peace of mind."

Canaria Bio plans to continue development by transferring bio assets from OQP Bio, which had continued the bio business after being spun off from Diarc. The core pipeline is Oregovomab, which is currently undergoing global Phase 3 clinical trials. Oregovomab showed encouraging results in Phase 2 clinical trials, with a progression-free survival period of 42 months?30 months longer than the control group?in ovarian cancer patients.

A company official stated, "If the global Phase 3 clinical trials yield results as good as those in Phase 2, we expect Oregovomab to become a global blockbuster with sales exceeding 10 trillion won."

He added, "Even if the Phase 3 results fall short of Phase 2, if the outcomes are better than the current standard treatment, annual sales could exceed 7 trillion won," explaining, "The standard treatment involves combining paclitaxel and carboplatin with Avastin as a maintenance drug." He further noted, "The progression-free survival period in Phase 3 was about 16 months."

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