Genexine and Toolgen have agreed to merge their businesses and become ToolGenexine.
From left, Genexine CEO Suh You-suk, Genexine Chairman Sung Young-chul, Toolgen founder Kim Jin-soo, and Toolgen CEO Kim Jong-moon poses for a photo after signing their merger agreement on Wednesday.
The merged entity plans to develop an immune gene therapy drug such as universal chimeric antigen receptor-T (CAR-T) by integrating the two companies’ genetic correction, immunotherapy and gene vaccine technology, Genexine said in news release Wednesday.
To accelerate the development of such treatments, the merged companies will strengthen R&D capabilities through reorganization, including the establishment of an R&D committee, it said.
“In the short term, we are planning to license out GX-H9, a growth hormone technology, and accelerate clinical development of HyLeukin-7 and cervical cancer gene therapies,” Genexine CEO Suh You-suk said. “We will also conduct new clinical trials for products that use Toolgen’s gene editing technology.”
As the two technologies complement each other, integrating the two companies’ technology and research capabilities will help to develop global blockbuster drugs that can overcome the limitations of existing drugs, Suh added.
Toolgen CEO Kim Jong-moon also said, “Toolgen is a global leader in the development of gene editing technology, and our gene scissors technology is a key tool in transforming genetic information freely and efficiently within the cell.”
The company expects that this merger will provide the opportunity to create the best synergy between the two companies, Kim added.
Genexine is developing immunotherapeutic agents and gene vaccines and is currently conducting global clinical trials for HyLeukin-7, a T cell amplifier that stabilizes interleukin-7, and gene vaccine for cervical cancer.
Toolgen possesses the original technology for the third generation gene scissors -- CRISPR/Cas9 -- and develops gene therapy based on the technology.
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