Handok said Monday that it has invested $5 million to acquire shares in TRIGR Therapeutics.
This investment is part of the company’s open innovation process, and Handok has obtained a stake in TRIGR Therapeutics, which is developing its dual antibody drug.
TRIGR Therapeutics, established in April last year, is an NRDO (no research development only) company, which focuses solely on development such as clinical trials and commercialization by acquiring a new drug candidate. TRIGR Therapeutics is now jointly developing four dual-antibody-based new drugs transferred from ABL Bio, a Korean biotech company.
A dual antibody is a technology that has recently attracted attention in the development of new drugs. Unlike a single antibody that recognizes only one antigen, the technology can develop two antigens with high efficacy and low toxicity.
When using the technology on anti-cancer drugs, it can strengthen the immune cells that protect the body and attack cancer cells.
TRIGR Therapeutics holds global rights to new drug projects such as ABL001/TR009, which is a new antiangiogenic anti-cancer antibody, T cell-associated dual antibodies, and dual antibody-based immunotherapy.
“TRIGR Therapeutics is a U.S. biotech venture with a high potential for growth, which can rapidly develop clinical and development drugs as it focuses on the early discovery promising new drug candidates through open innovation,” Handok CEO Kim Young-jin said. “We are also open to cooperation with ABL Bio, which is undertaking a development project jointly with TRIGR Therapeutics.”
TRIGR Therapeutics CEO George Uy also said, “The company is pleased that it has received investment from Handok. We will work closely with Handok to launch ABL001/TR009 in the Korean market.”
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