On March 4, 2024 Proen Therapeutics, a company specializing in the development of new anticancer drugs, reported that it has completed a strategic investment from global beauty and bio-healthcare company Korea Kolmar Holdings (Press release, ProEn Therapeutics, MAR 4, 2024, View Source;bmode=view&idx=19525174&t=board [SID1234649258]). Both parties agreed not to disclose the investment amount.
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This investment was conducted in an open innovation program jointly hosted by Korea Kolmar Holdings and the Hongneung Gangseo Special Zone Business Group to support the discovery of promising companies and investment activation by evaluating their technological prowess, marketability, and potential for follow-up collaboration, and Proen Therapeutics was selected as a result.
Proen Therapeutics is a company that has competitiveness in the development of antibody functional parts among antibody-drug conjugate (ADC) new drug development companies that have recently been receiving increasing attention worldwide.
The company’s ‘ArtBodyTM’ technology, a platform technology that develops cancer antigen-specific binding proteins optimized for ADCs, is a technology that can significantly improve toxicity to normal cells and tissues, which is a limitation of existing antibody-based ADCs. It is Proen Therapeutics’ exclusive platform technology that maximizes the selective binding characteristics of cancer cells.
As part of its strategic investment and open innovation cooperation, Korea Kolmar Holdings will continue to pursue joint development projects between its affiliates HK inno.N and Proen Therapeutics. As a top priority, it signed a joint development contract for a CAR-T new drug for the treatment of solid cancer.
Proen Therapeutics CEO Lee Il-han said, "Through this strategic investment and joint research agreement, we expect to discover competitive candidate substances and accelerate R&D through the synergy effects of the technologies owned by both companies."