Huons and Genexine have agreed to collaborate on developing new biopharmaceuticals.
|Huons CEO Um Key-an (left) and Genexine CEO Suh You-suk hold up their agreement at Huons headquarters in Seongnam, Gyeonggi Province, on Monday.|
Based on their contract, Huons will develop promising biopharmaceuticals and treatments related to rare diseases derived from Genexine while Genexine will promote its products to the global biopharmaceutical market through Huons’ global network.
Genexine is conducting clinical trials for cancer patients with its anti-cancer drug in collaboration with global pharmaceutical companies such as Merck and Roche. Also, the company expects that its sustained growth hormone will enter phase 3 clinical trials in the United States as it has completed phase 2 clinical trials in Europe.
Other products in development include treatments for continuous anemia treatment, diabetes, and short bowel syndrome. The U.S. Food and Drug Administration has granted orphan drug designation for Genexine’s sustained growth hormone, immunotherapeutic and short bowel syndrome drugs.
The two companies also plan to cooperate on business contents, and Huons intends to strengthen its bio-business competitiveness through the strategic business agreement with Genexine.
“To ensure the long-term growth of Huons, we decided to partner with Genexine, a leading company in the field of biopharmaceutical R&D,” Huons CEO Um Key-an said. “Through this collaboration, we will actively promote the development of therapeutic drugs for rare diseases and biobetter drugs, which are clearly in demand in the market.”
Genexine CEO Suh You-suk also said, “By adding Huons' accumulated pharmaceutical technology and know-how in the global market to Genexine's biotechnology, we are confident that we will be able to bring innovation to the global biopharmaceutical market.”
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