슬롯 무료 사이트VX: "Technology transfer deal with major pharmaceutical firm imminent…Aiming for KRW 3 trillion market cap."

[by Yu, Suin] “Certain pipeline candidates have completed due diligence processes for 슬롯 무료 사이트 transfer with major pharmaceutical companies and are now entering discussions regarding the signing of a term sheet. The first outcomes of these 슬롯 무료 사이트 transfer agreements are anticipated to be announced as early as the first half of the year.”

In an interview with <THE BIO on April 3 at 슬롯 무료 사이트amp;Vx’s headquarters in Gasan-dong, Geumcheon District, Seoul, CEO Kyu-chan (Kevin) Kwon expressed strong confidence in the company’s outlook, stating, “I am confident that we will achieve technology transfer within the year.” Kwon further expressed, “My goal has been to establish a foundation for partnerships with leading global pharmaceutical companies. I aim to build a company capable of sustainable revenue generation and achieving a market capitalization of at least KRW 3 trillion (approximately USD 2 billion).”

Kwon, a seasoned expert in new drug development, has overseen more than 100 global drug sales approvals and international sales, dating back to a time when Korea’s pharmaceutical landscape was still considered a “new drug wasteland.” He joined 슬롯 무료 사이트amp;Vx two years ago in May 2023 with a clear mission to “embed the DNA of new drug development” into the company. His recruitment was significantly influenced by 슬롯 무료 사이트amp;Vx's largest shareholder, Chairman Lim Jong-yoon of the COREE Group (second- generation heir of Hanmi Pharmaceutical and the eldest son of the late Chairman Lim Sung-ki). During his tenure as Head of the Global Business Division at Hanmi Pharmaceutical, Kwon worked closely with Chairman Lim, leading overseas RA (drug licensing), overseas business development (BD), international sales, novel drug clinical trials, and technology transfers (L/O).

Previously, 슬롯 무료 사이트amp;VX operated primarily in the medical diagnostics sector, focusing on genetic and in vitro diagnostics. However, due to persistent financial losses, the company received a 'disclaimer of opinion’ from auditors in 2019 and faced the risk of being delisted. The turning point came in 2021 when Chairman Lim Jong-yoon became the largest shareholder. Under his leadership, the company underwent a significant transformation, including a complete management overhaul and diversification of its business portfolio. As a result, 슬롯 무료 사이트amp;Vx successfully achieved its first operating profit in seven years in 2022 and resumed trading on the stock market in March 2023.

Since Kwon’s appointment, 슬롯 무료 사이트amp;Vx has actively restructured its business to position itself as a dedicated new drug development company, notably by expanding its pipeline and reinforcing its R&D workforce. As of 2024, R&D investment accounted for nearly 30% of total sales, a significant rise from 4.10% in 2022 and 7.86% in 2023. The company currently employs 70 R&D personnel, including 44 with master's or doctoral degrees.

슬롯 무료 사이트amp;Vx has adopted an early-stage technology transfer model for its new drug business, aiming to out-license drug candidates at the initial clinical development phase. According to Kwon, this approach enables the company to build a diverse pipeline with relatively low R&D costs while mitigating associated risks. He noted that, amid a prolonged investment downturn, many Korean biopharmaceutical companies have opted for a selection and concentration approach to minimize R&D expenses, often concentrating their resources on just one or two pipelines.

“Focusing all resources on a limited number of pipelines is not always a sound strategy. While success is ideal, one must also be prepared for the possibility of clinical trial failure,” Kwon explained. “As new drug development trends go back and forth between various therapeutic areas, ranging from oncology to infectious diseases and microbiome research, it is crucial to secure a broad portfolio to distribute risk effectively. Since early-stage clinical development carries relatively low R&D costs, our model prioritizes 슬롯 무료 사이트 transfer before entering full-scale clinical trials.”

슬롯 무료 사이트amp;Vx currently holds a diversified pipeline spanning infectious disease and anticancer vaccines, metabolic disorders such as obesity and diabetes, antiviral drugs, and treatments for ocular diseases. Among these, Kwon has set a goal of completing technology transfer for three key pipelines within the year: a messenger RNA (mRNA) vaccine platform capable of ultra-long-term storage at room temperature, the anticancer vaccine platform ‘OVM-200,’ and an oral obesity treatment candidate from the glucagon-like peptide 1 (GLP-1) series (development code DX-DRG-C01).

Notably, the mRNA vaccine platform and oral obesity treatment candidate are currently undergoing due diligence with major Korean and international pharmaceutical companies. In particular, discussions are actively progressing toward a term sheet conclusion for the obesity treatment candidate. A term sheet, which outlines key terms and conditions prior to the execution of a definitive contract, is a late-stage milestone in the 슬롯 무료 사이트 transfer (licensing) process within the bio슬롯 무료 사이트 industry. Typically, it takes from three months to up to a year to transition from the signing of a term sheet to the conclusion of the main licensing contract.

“The oral obes슬롯 무료 사이트y treatment candidate we are developing is a small-molecule GLP-1 receptor agonist (RA). Unlike peptide-based treatments, 슬롯 무료 사이트 is not degraded in the gastrointestinal tract, allowing for more efficient absorption,” Kwon stated. “This candidate avoids the side effect concerns typically associated w슬롯 무료 사이트h existing therapies and offers a significant advantage in terms of administration convenience compared to injectable formulations. 슬롯 무료 사이트 also demonstrates comparable clinical efficacy to globally compet슬롯 무료 사이트ive candidates currently in development.”

Regarding the mRNA vaccine platform, Kwon explained, “One of the key limitations of mRNA-based vaccines that emerged during the COVID-19 pandemic was the requirement for frozen distribution and storage, which significantly increased cold chain infrastructure costs.” He continued, “Even when stored frozen, these vaccines had short shelf lives and often had to be disposed of. Our platform is innovative in that it enables room temperature storage for over 10 years, which has attracted strong interest from the top 10 global 슬롯 무료 사이트 companies as well as major Korean firms. We are currently undergoing due diligence with several of these companies.”

Kwon stated that the company is considering direct domestic commercialization of OVM-200. This ‘therapeutic anticancer vaccine’ was introduced by 슬롯 무료 사이트amp;Vx from Oxford Vacmedix, a UK-based company. Unlike conventional vaccines designed for disease prevention, therapeutic anticancer vaccines are administered to patients already with cancer to actively target and eliminate cancer cells. Moreover, these vaccines enable the immune system to develop a memory of the cancer cells, allowing it to recognize and destroy them.

OVM-200 is currently undergoing a Phase 1 clinical trial. 슬롯 무료 사이트amp;Vx holds the regional rights to OVM-200 in Korea, China, and India, but Kwon expressed his intention to pursue full development in Korea. “Technology transfer discussions for the Indian market are already in progress,” he further noted.

Kwon also revealed plans to pursue technology transfer for development assets held by the subsidiary Avixgen. While 슬롯 무료 사이트amp;Vx had previously explored a merger and acquisition (M&A) with Avixgen to bolster its novel drug development capacity, the plan was ultimately withdrawn due to shareholder opposition. “We are currently in discussions with multiple companies regarding Avixgen’s dry eye treatment candidate,” Kwon said. “We are also actively identifying areas where other technologies can be applied quickly.”

Kwon emphasized his determination to resolve the issue of legal loss, the loss from continuing operations before corporate tax, through tangible results this year, positioning the 슬롯 무료 사이트amp;Vx for global growth. The term legal loss refers to a case in which losses from continuing operations before corporate tax exceed 50% of equity capital for two out of the past three years. 슬롯 무료 사이트amp;Vx’s legal loss ratio to equity capital increased significantly, rising from 8.3% in 2022 to 93.7% in 2023 and further to 303.6% in 2024, leading to its recent designation as a ‘management stock.’

“The legal loss issue stemmed from the inclusion of the subsidiary’s performance in the consolidated financial statements,” Kwon expressed. “In just a year and a half, 슬롯 무료 사이트amp;Vx has built technology assets that have garnered global attention with special determination. We plan to swiftly overcome the management stock designation by accelerating the licensing out of these assets.”

“Even in the face of the legal loss issue, we will not waver in our commitment to R&D investment. When investment is needed, it should be made boldly,” he further stated. “At the JP Morgan Healthcare Conference earlier this year, I felt a clear shift in 슬롯 무료 사이트amp;Vx’s status. Major pharmaceutical companies, once difficult to even meet, approach us first, which is a testament to the strength of our technology.”

Kwon also noted that revenue from the company’s existing cash cow, the medical diagnostics business, is expected to grow this year. “In 2024, we signed contracts with overseas companies to expand our 슬롯 무료 사이트 reach,” he explained. “However, full-scale sales were delayed slightly due to the need for a testing period. Overseas purchase orders (POs) are anticipated to increase significantly this year, and we are also developing a new diagnostic business strategy, so the overall outlook remains positive.”