On May 7, 2021 OCI reported thet the company has decided to invest in Panolos Bioscience, a domestic bio venture company with anticancer drug candidates and multifunctional recombinant protein technology (Press release, Panolos Bioscience, MAY 7, 2021, View Source [SID1234633686]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
On the same day, OCI announced on the 26th that it had signed an investment contract worth 5 billion won with Panolos Bioscience. "Through this strategic partnership, we will be able to secure expertise in the field of anticancer drugs," said OCI President Kim Taek-joong.
Panolos Bioscience is developing new biological therapeutics by utilizing αARTTM (Anti-angiogenesis-based Artifact Re-targeting Tri-specifics platform), a multi-specific drug generation platform. OCI explained that it is a platform that can reduce the side effects of single-target protein therapeutics and has excellent potential for expanding new drug pipelines through multiple targeting.
”PB101”, a next-generation anti-cancer drug candidate based on the αART platform, is a candidate for all types of Vascular Endothelial Growth Factor (VEGF)2, which is excessively produced around cancer cells (VEGF-A, VEGF-B, Placental Growth Factor). factor) to inhibit the growth of cancer cells.
Unlike conventional VEGF-inhibiting drugs that target only a portion of VEGF, it blocks all delivery pathways to reduce drug resistance and increase efficacy. PB101 is currently in the state of development of a process capable of mass production. Panolos Biosciences aims to start preclinical 3 in May and enter phase 1 clinical trial in 2022.