Lemonex, a drug delivery platform biotechnology company, said Thursday that it has signed a memorandum of understanding (MOU) with Health Innovation East, an organization under the National Health Service (NHS) in the U.K., to develop and commercialize an mRNA-DegradaBALL vaccine using Lemonex's drug delivery platform, DegradaBALL technology.

Lemonex signed the agreement at the UK-Korea Business Forum in London on Wednesday, attended by more than 200 business leaders from the U.K. and Korea.

Health Innovation East is an organization within the NHS that supports a range of health and healthcare technologies and companies. Through this collaboration, Lemonex will accelerate the global commercialization of its mRNA-DegradaBALL technology.

Lemonex's mRNA-DegradaBALL vaccine, LEM-mR203, is in Phase 1 clinical trials at the Seoul National University Hospital Clinical Research Center.

According to Lemonex, the mRNA vaccine with DegradaBALL technology can be distributed at low temperatures, which is advantageous for global supply.

In addition, it can minimize systemic side effects and improve mRNA stability by increasing drug retention at the site of administration, the company said.

"Participating in this business forum is of great significance in strengthening our network by establishing contacts with major companies and government organizations in both countries and exploring ways to collaborate," said Won Cheol-hee, CEO of Lemonex.. "Lemonex will do its best to contribute to global health and welfare through continuous development of mRNA-DegradaBALL technology."