BioPlus invests 2.3 billion KRW in Procell Therapeutics... Joint development of botulinum toxin

[Asia Economy Reporter Jang Hyowon] BioPlus (CEO Jeong Hyungyu) announced on the 13th that it has decided to invest 2.34 billion KRW in Procell Therapeutics (CEO Lee Byungkyu, hereinafter Procell), a company specializing in recombinant proteins and drug delivery systems.

Through this investment, BioPlus will acquire 520,000 new shares of Procell and become the second largest shareholder (7.3% stake). Accordingly, BioPlus Group, including its subsidiary UbiProtein, and Procell have agreed to establish a more strategic partnership and jointly pursue research and development of ‘next-generation botulinum toxin products.’ UbiProtein is a company specializing in protein therapeutics based on half-life extension technology.

The three companies?BioPlus, UbiProtein, and Procell?plan to develop ‘next-generation light-chain botulinum toxin-based chronic disease therapeutics and cosmetic products’ applying protein recombinant technology and drug delivery system (MTD) technology. In particular, they aim to launch innovative products with extended half-life compared to existing products, making them more resistant to tolerance while improving efficacy and safety. The target indications for therapeutic purposes include chronic headaches, migraines, and tic disorders.

To this end, the three companies plan to collaborate throughout the entire process from the development of next-generation botulinum toxin raw materials and formulations to preclinical and clinical studies, regulatory approval, technology licensing (L/O), and distribution and sales. ▲UbiProtein will be responsible for developing recombinant genes and strains of light-chain botulinum toxin with extended half-life ▲Procell will focus on developing drug delivery peptides with peripheral nerve cell targeting functions ▲BioPlus will handle preclinical and clinical studies, production of clinical samples and products, product approval, and sales.

A BioPlus official stated, “We will maximize synergy by combining UbiProtein’s original platform technology for extending the half-life of protein therapeutics, Procell’s expertise in peptide drug delivery systems applying protein gene recombination technology, and our accumulated formulation development, mass production technology, and sales capabilities.” He emphasized, “Through this, we will succeed in developing and commercializing innovative botulinum toxin products and establish them as a new cash cow for the company.”

BioPlus expects to enter the botulinum toxin market stably based on the domestic and international sales networks and accumulated know-how secured in the filler market, its existing core business area. The company plans to build a ‘filler + botulinum toxin’ line to effectively target the related markets in the future.

Meanwhile, BioPlus is also promoting joint development of diabetes and obesity therapeutics with Procell, in addition to next-generation botulinum toxin products. By combining the bio-better material with an extended half-life of GLP-1 derivative liraglutide (the raw material for Saxenda), which BioPlus and its subsidiary UbiProtein are jointly developing, and Procell’s drug delivery system that improves intestinal membrane permeability, they aim to develop an improved oral formulation drug that increases dosing convenience compared to the currently marketed once-daily injectable therapy.

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