K-Prime Research Signs 1.34 Million Euro GLP Contract with European Biotech Company

K-Prime Research, a subsidiary of BioToxTech—the leading toxicology testing institution listed on KOSDAQ in Korea—announced on March 17 that it had signed a contract for a primate GLP (Good Laboratory Practice) non-clinical trial with a promising European biotech company. The contract is valued at 1.38 million euros (approximately 2.4 billion won).

This order was secured from a Europe-based company specializing in ADC (antibody-drug conjugates) development, with the contract amount equivalent to 16.5% of last year's revenue. This marks the third GLP trial contract received from overseas this year, following the United States, and is seen as evidence that the company is accelerating its expansion into the global market, now including Europe.

K-Prime Research explained that, starting early 2024, it underwent a total of three on-site audits by the European biotech firm, during which its research facilities, operational expertise, dosing technology, and ADC formulation testing references were thoroughly evaluated. Following the successful completion of three pilot studies, the company was awarded this GLP trial contract.

To date, K-Prime Research has collaborated with numerous domestic and international ADC development companies, accumulating a total of 46 ADC substance research achievements. The scale of these orders accounts for 32% of all contracts, solidifying its reputation as the country’s largest non-clinical research partner for ADCs.

CEO Kim Dongil stated, "We have built trust with our European client over a two-year audit process while meeting various requirements," adding, "It is particularly meaningful that we have been recognized not only for our advanced technology but also for our scientific ethics, such as custom-manufacturing tailored cages to meet the high standards of animal ethics required in the European market."

A representative from the European biotech company commented, "Despite being a relatively new company, K-Prime Research was highly rated for its diverse formulation research experience and for obtaining Korea’s first primate safety pharmacology GLP certification in the cardiovascular field. Thanks to the high internal satisfaction with the results of several pilot studies, we decided to entrust them with the GLP trial."

K-Prime Research noted that, in line with global biopharmaceutical development trends, demand for primate non-clinical trials is expected to continue rising as the development of various formulations—including ADCs, ASOs (antisense oligonucleotides), RNA (ribonucleic acid), and CNS (central nervous system) compounds—expands.

In fact, the company has already secured orders worth over 12 billion won so far this year, and with reservations completed for 300 primates scheduled for introduction in the first half of the year, expectations for performance growth and its position as key infrastructure for national strategic industries such as new drug development are strengthening.

BioToxTech Group provides total services across the entire non-clinical process—including primate, rodent, and non-rodent toxicology and efficacy testing, bio-sample analysis, and laboratory animal sales—needed for new drug development. K-Prime Research is currently preparing for a KOSDAQ listing, and it is expected to record its first operating profit since its establishment this year.

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