Handok said it decided to establish a local joint venture with Swedish Orphan Biovitrum (Sobi), a global biopharmaceutical company specializing in rare diseases, in the first half of this year.

Sobi is a global biopharmaceutical company specializing in rare diseases, providing innovative treatments in hematology, immunology, and specialized therapies. With 1,800 employees worldwide, Sobi operates across Europe, North America, the Middle East, Asia, and Australia.

This decision comes after Handok's strategic partnership with Sobi last October, marking their first collaboration towards obtaining domestic approval for rare disease treatments such as Empaveli (paroxysmal nocturnal hemoglobinuria treatment) and Doptelet (thrombocytopenia), which are currently in progress.

With the establishment of this joint venture, Handok plans to not only strengthen its collaboration with Sobi but also enhance its competitiveness in the rare disease business sector.

"Sobi is a biopharmaceutical company experiencing rapid growth with innovative treatments for rare diseases," Handok Chairman Kim Young-jin said. "Through this joint venture, Handok and Sobi have laid the foundation for a long-term strategic cooperation model."

By leveraging Handok's expertise in the rare disease business and Sobi's innovative pipeline, Handok aims to provide more opportunities for rare disease patients to access treatment, Kim added.

Sobi CEO Guido Oelkers also said, "Expanding Sobi's global business is crucial, and contributing to Korean patients is a significant aspect of that, and our treatments have met medical demands in major developed markets."

Sobi looks forward to working with Handok to deliver innovative therapies in Korea, starting with Empaveli and Doptelet, Oelkers added.

Meanwhile, Handok said it would continue to strengthen its competitiveness in the rare disease business through expanded collaborations with innovative global companies focused on rare diseases.