On September 1, 2022 PharmAbcine Inc. (KOSDAQ: 208340ks), a clinical-stage biotech company focusing on the development of next-generation antibody therapeutics, reported that it signed an MoU (Memorandum of Understanding) with FutureChem Co., Ltd. ("FutureChem") (KOSDAQ: 220100ks), a leading Korean radiopharmaceutical company developing innovative medicines and imaging analysis technology for targeting and treating cancer and neurodegenerative diseases (Press release, PharmAbcine, SEP 1, 2022, View Source;bmode=view&idx=12740723&t=board [SID1234649179]).
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Under the agreement, both companies will conduct collaborative research utilizing antibody assets discovered from PharmAbcine’s proprietary fully human antibody library called "HuPhage" and FutureChem’s development platform for innovative radiopharmaceuticals.
Radiopharmaceuticals are radioactive agents that are utilized for the diagnosis of infection, vessel-related diseases, bone/bone marrow diseases, tumors, and other diseases in heart, lung, kidney, liver etc. Using larger amount of radiation, some radiopharmaceuticals can be used to treat cancers by destroying the affected tissues.
"In addition to previous research collaboration agreements with other notable biotech companies that specialize in mRNA therapeutics, this partnership will provide other new possibilities to expand our R&D scope from the standard antibody therapeutics to novel diagnostics and treatment options, which are needed direly in the market," said Dr. Jin-San Yoo, CEO of PharmAbcine. "We look forward to collaborating with FutureChem, one of key global leaders of radiopharmaceuticals development, to produce critical achievements in the future."