Samyang Holdings Corp. and LG Chem said on Thursday that they signed a strategic partnership agreement to utilize the former’s proprietary drug delivery technology to develop mRNA-based anticancer drugs.

Under the non-exclusive technology transfer agreement, Samyang Holdings will provide LG Chem with its technology and related self-developed mRNA delivery system NanoReady. In turn, LG Chem will use this platform to discover innovative new mRNA-based drugs with maximized anti-cancer efficacy.

Accordingly, LG Chem will pay Samyang Holdings a down payment and milestones at each stage of development.

mRNA contains genetic material information which can be translated into specific proteins for therapeutic applications once an appropriate drug delivery system transports them into cells.

NanoReady is Samyang Holdings' unique drug delivery platform, which is characterized by its high versatility. By combining mRNA active substances developed by LG Chem with the delivery system, new personalized drug development can be shortened.

“LG Chem is a company with excellent drug development capabilities and multiple new drug pipelines, and we plan to further strengthen our cooperation with this agreement," said Samyang Holdings CEO Lee Young-joon, "By combining our capabilities, we will accelerate the development of innovative anti-cancer drugs and contribute to improving the quality of life of patients suffering from cancer."

Lee added that the company is also accelerating the development of various mRNA delivery systems for preventive vaccines and rare diseases, and plans to contribute to the development of various therapeutics through long-term selective mRNA carriers that overcome the limitations of existing mRNA delivery systems.

"We will maximize the results of our collaboration to bring advanced mRNA anti-cancer drugs to patients around the world," said LG Chem’s Head of Life Science Business Division Son Jee-woong.