Novacell, Backed by Dongkoo Bio & Pharma, Passes Technology Evaluation for KOSDAQ Listing

Positive Signal for Listing of Peptide Immunotherapy Developer

Expanded Collaboration for Introduction of Phase 2 Atopic Dermatitis Pipeline

Tangible Outcomes of Open Innovation Strategy

Novacell Technology, a biotech venture backed by Dongkoo Bio & Pharma, has passed the technology evaluation required for listing on KOSDAQ. The successful advancement of a peptide-based immunotherapy developer to the listing threshold is seen as a tangible outcome of Dongkoo Bio & Pharma's open innovation strategy.

Dongkoo Bio & Pharm, Novacell company logo image. Dongkoo Bio & Pharm

On March 23, Dongkoo Bio & Pharma announced that Novacell Technology had received “A” and “BBB” ratings in the technology evaluation, thereby qualifying to apply for preliminary listing review.

Novacell Technology is developing “Peptiloid,” a peptide immunotherapy that works through a “pro-resolution” mechanism to induce the resolution of inflammation. Unlike conventional anti-inflammatory treatments, which focus on suppressing inflammation, this approach promotes the natural termination process of inflammation. However, there remains limited large-scale clinical evidence supporting the efficacy of this mechanism.

Since its initial investment in 2012, Dongkoo Bio & Pharma has remained the largest shareholder of Novacell Technology. The company participated in the development of an atopic dermatitis treatment through nationally funded drug development projects, such as the Pan-Ministry New Drug Development Program and the National New Drug Development Project. In February of this year, Dongkoo Bio & Pharma introduced a Phase 2 clinical pipeline through a technology licensing agreement.

The market for atopic dermatitis treatments is considered highly promising. The global market is projected to grow from approximately 18 trillion won in 2023 to 43 trillion won by 2033.

Novacell Technology is also developing a treatment for dry eye syndrome. Previously, its pipeline was licensed out to Huons, and recently, it obtained approval for a domestic Phase 2 clinical trial (IND).

In addition, the company is working to expand indications to diseases such as rheumatoid arthritis, ulcerative colitis, and psoriasis using its second-generation peptiloid candidates. In the fields of dermatology, respiratory, and ophthalmic diseases, Novacell Technology has signed a technology transfer agreement with HK inno.N and is conducting follow-up research.

Choyongjun, CEO of Dongkoo Bio & Pharma, stated, “Passing this technology evaluation is an achievement of our open innovation strategy,” adding, “We will accelerate the development and commercialization of peptide-based new drugs through cooperation between both companies.”

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