THE KOREA ECONOMIC DAILY, GLOBAL EDITION

South Korea’s biopharmaceutical company Celltrion Inc. announced on Wednesday that it signed a joint research agreement with domestic startup Cyron Therapeutics for the development of a multi-specific antibody drug.

Multi-specific antibody refer to pharmaceuticals that simultaneously bind to multiple different antigens. For example, one drug acts on both immune cells and cancer cells simultaneously, enhancing immunity and targeting cancer cells.

Under the agreement, Cyron will develop trispecific or more multi-specific antibody that bind to the antigens offered by Celltrion. The contract period is three years and the total contract amount, including upfront payments and milestone fees, is up to 1.16 trillion won ($882 million).

Through this agreement, Celltrion aims to strengthen its competitiveness in the anticancer pipeline. The company plans to diversify its portfolio through a two-track strategy: in-house development of anticancer drugs and winning the licenses for external products.