LegoChem Bioscience said that it would start the operation of AntibodyChem Biosciences (ACB), its U.S. subsidiary in Boston.
The company established ACB to develop global new drugs based on its antibody-drug conjugate (ADC) platform technology. ACB will lead global clinical development by joining the scientific advisory board of Legochem's top authorities in the ADC field as its executive team.
LegoChem expects ACB to conduct global development quickly and efficiently by making the most of Boston's bio-infrastructure.
LegoChem stressed that the world's best human resources gather in Boston, which has leading universities and hospitals, such as Harvard and MIT. The city also has a biocluster consisting of multinational pharmaceutical companies, such as Merck and Pfizer, and bio ventures.
LegoChem plans to expand the business development area by establishing a network that can continuously respond to global leaders in the bio-field and pharmaceutical companies.
LegoChem has appointed Chae Je-wook, vice president in charge of global business development, as the first CEO of ACB.
CEO Chae obtained his doctorate from Virginia State University and served as Bioneer's research center head after completing a postdoctoral research course at Harvard.
Since joining LegoChem Bio in 2015, he has focused on global technology transfer and introduction, securing new pipelines through joint research.
"Starting with LCB84 (TROP2-ADC) at the end of this year, ACB will conduct independent global clinical development, including three additional candidates scheduled to enter global clinical trials by 2024," Chae said. "ACB will serve as an outpost for global business development and enhance the company's value."
A LegoChem Bio official also said, "Each year, we have made technology transfers with various companies. We are looking forward to producing more such results by promoting technology transfer with several companies this year."
The official added that the company is carrying out its business with the priority goal of technology transfer with multinational pharmaceutical companies.