Celltrion, Genuv sign agreement for antibody joint R&D
Yoorim Kim
Mar 14, 2023 (Gmt+09:00)
Celltrion's Plant 2 in Songdo, Korea (Hankyung DB) South Korean biopharmaceutical firm Celltrion Inc. announced on Tuesday a joint research and development agreement with Genuv, Inc., a domestic drug developer specializing in immuno-oncology drugs and antibodies.
The agreement stipulates that the two companies will collaborate on discovering up to two antibodies using Genuv's "Shine Mouse" antibody discovery platform and engage in joint R&D.
Should Celltrion adopt Genuv's candidate substance in the future, a milestone payment of up to 33 billion won ($25.3 million) per case will be made to Genuv. If Celltrion's cumulative sales reach 10 trillion won ($7.65 billion) after commercialization, the sales milestone will increase to 900 billion won ($689 million).
Celltrion has recently acquired technology in antibody-drug conjugates (ADC), anticancer viruses, and microbiomes for antibody-based, high-value-added new drugs. As a result, the company is expanding its partnerships with various domestic and foreign biomedicine companies.
"We plan to work actively with bio companies with high potential to maximize synergies in new drug development rather than relying solely on our own antibody technology and know-how," said a Celltrion official.