1. Orum Therapeutics acquires the nation’s two millionth patent
Orum Therapeutics holds the title of South Korea’s two millionth patent holder. On September 19, a ceremony was held at the Blue House to award certificates for the two millionth patent and the millionth design registration. Sung Joo Lee, CEO of Orum Therapeutics, accepted the patent certificate signed by President Moon Jae-in. The patent was awarded for a technology that overcomes the shortcomings of the existing anticancer drugs with a method to deliver cancer-treating antibodies into the cytoplasm. The biotech firm succeeded in attracting Series B investment for as much as 34.5 billion KRW last July, and it has driven the continuous expansion and growth of Kendall Square in Boston to which it relocated early this year.
2. Genomictree establishes US branch to make inroads into the market
Genomictree has established its legal presence in the United States with “Promis Diagnostics, Inc.” seeking to make inroads into the US market with its early diagnostic kit for colorectal cancer and has successfully secured key personnel. On September 18, the company announced that it had scouted Peter Kang as its Chief Medical Officer. A graduate of the Medical School of Seoul National University, Mr. Kang worked at Roswell Park Cancer Institute after receiving his training in laboratory medicine and molecular cytogenetic pathology at University of Washington and University of Pittsburgh respectively. He later acquired a master’s degree in biomedical informatics while performing his postdoctoral studies at Stanford University. For seven years, he also served as a general manager and medical officer at Counsyl in the Silicon Valley, a firm known for its innovative generic testing. Promis Diagnostics, the US entity of Genomictree, intends to implement and support clinical trials for US FDA approval, promote and follow up on commercialization in North America and attract foreign investment as needed. It has also pursued a local CRO contract.
3. Seasun Therapeutics disclosed its new drug candidate for atopy at Europe Society of Dermatological Research (ESDR)
From September 18–21, Seasun Therapeutics took part in the 2019 ESDR Annual Meeting held at Bordeaux, France and announced the animal testing results of a new drug candidate (POL201) for ASO (antisense oligonucleotide) atopic dermatitis. POL201 effectively delivers into cells PNAs (artificial nucleic acids) that target and suppress a receptor α of IL-4 (interleukin-4) by using the company’s proprietary technology called POLIGO to turn them into nano-particles. In tests performed on rats with atopic dermatitis, immunoglobulin E (igE) and thymus and activation regulated chemokine (TARC) that serve as biomarkers for atopic dermatitis, reducing the serum levels to those comparable with normal rats. It has been observed that atopy’s major symptoms such as red spots and itching were alleviated as well. Hyeju Kim, CEO of Seasun Therapeutics, remarked, “With our presentation at this meeting, POL201 has garnered a lot of attention from pharmaceutical firms specialized in dermatitis and from clinical doctors and it has been recognized as a potential new drug candidate. We will accelerate R&D activities for its commercialization.” Seasun Therapeutics is set to embark on a pre-clinical trial within this year.
4. Sugentech’s “Diagnostic kit” designated as the nation’s first new medical technology eligible for assessment deferral
Sugentech has accelerated the market release of its TB diagnostic kit, which has become the first to be covered by the “Pilot Project to Improve procedures for registering in-vitro diagnostic testing for infectious diseases to Health Insurance,” also described as “Entry first, Assessment later.” The biotech form announced on September 26 that its “TB-specific antigen blood testing” was designated by the National Evidence-based Healthcare Collaborating Agency (NECA) as a new medical technology that is eligible for deferral of in-vitro diagnostic testing assessment. Thanks to this decision, the blood testing kit is available at over 300 general hospitals with specialists in laboratory medicine or pathology and medical institutes under the Ministry of Health and Welfare. The firm’s “TB-specific antigen blood testing,” approved by the KFDA last July, is the world’s first commercial product based on technology that diagnoses TB using blood. As it has been shortlisted for ““Entry first, Assessment later”, it has been able to hit the Korean market first. Currently, clinical trials are being carried out in China, Malaysia and Thailand, and the kit is expected to be released in the global market next year. A person affiliated with Susentech stated, “We will further speed up the global market release once we secure various clinical data with the launch into the Korean market and receive clinical trial results from many overseas countries.”
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