Samsung Bioepis and Epis NexLab, subsidiaries of Samsung Epis Holdings, have announced a strategic joint research and licensing agreement with Korean biotech firm G2GBio, focusing on the development of long-acting obesity treatments. The companies made the announcement on Monday.
This tripartite agreement is geared towards creating innovative obesity drugs with extended dosing intervals, leveraging G2GBio’s advanced microsphere-based platform for sustained drug delivery.
According to the agreement, Samsung Bioepis will gain exclusive development and commercialization rights to G2GBio’s pipeline, prominently featuring a long-acting semaglutide-based obesity drug candidate. Samsung Bioepis will provide an upfront payment and further milestone-based payments contingent on the progress of the drug’s development.
In a separate, parallel move, Samsung Epis Holdings has committed to a 20 billion won ($13 million) investment in convertible bonds issued by G2GBio, solidifying the strategic collaboration between the organizations.
G2GBio, established in 2017, specializes in innovative long-acting drug delivery technologies. Their proprietary microsphere platform is engineered to facilitate the sustained release of therapeutic agents, which could potentially reduce the frequency of medication administration while maintaining its efficacy.
Kim Kyung-ah, president of Samsung Epis Holdings, stated that the agreement represents a significant step in expanding the group’s involvement in cutting-edge innovative drug development.
“This agreement will serve as an opportunity for us to further advance as a comprehensive biotech company through the development of innovative medicines addressing unmet medical needs,” Kim said.
Lee Hee-yong, chief executive of G2GBio, highlighted that the partnership secures crucial manufacturing opportunities for the company as it prepares to build its second GMP facility.
“Since our partner will bear the global development costs for two drug candidates, including the obesity treatment, the agreement demonstrates not only our technological capability but also the business value of our platform,” Lee said.
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