Resuming Operations ShillaJen, Key R&D Staff Head to Switzerland... "Accelerating Anticancer Pipeline Introduction"
New Anticancer Drug 'BAL0891' Introduced
Discussion on Future Collaboration with Basilia
Plans for Upcoming Announcement Event Scheduled
On the 13th, when SillaJen resumed trading after 2 years and 5 months, the SillaJen stock price was displayed on the market board at the Korea Exchange in Yeouido, Seoul. Photo by Jinhyung Kang aymsdream@
View original image[Asia Economy Reporter Lee Gwan-joo] ShillaJen, which resumed trading after 2 years and 5 months, is accelerating the development of the anticancer pipeline recently introduced from Switzerland's Vascilia.
On the 13th, ShillaJen announced through its website that key research and development (R&D) personnel are scheduled to depart for Switzerland to finalize the technology transfer of the new anticancer agent 'BAL0891' and discuss the cooperative relationship with Vascilia.
'BAL0891' is a type of mitotic checkpoint inhibitor (MCI) with a first-in-class mechanism that acts dually on cancer-inducing enzymes. It has already received approval from the U.S. Food and Drug Administration (FDA) to enter Phase 1 clinical trials, and plans to commence clinical trials within this year in the U.S. targeting patients with metastatic solid tumors.
ShillaJen has been promoting the introduction of new anticancer pipelines alongside existing Pexa-Vec and SJ-600 series to resume trading and restore corporate value. Accordingly, the contract for introducing BAL0891 has been completed, and the main R&D leaders will take over comprehensive aspects of the technology. Once the Switzerland trip is completed, ShillaJen plans to hold a large-scale presentation for domestic media and institutions to disclose the current research status and future plans.
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A ShillaJen official stated, "We have perfectly completed all preparations for the development of the new substance for shareholders who have trusted and waited for the company's value, and will proceed with the U.S. clinical trials within this year without any setbacks," adding, "The presentation has been planned for some time, and we will prepare it mainly after consultations with Vascilia's R&D team are finalized."
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