Handok and Swedish Orphan Biovitrum (Sobi) said they have officially inaugurated their Korean joint venture, Sobi-Handok.

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.

Sobi-Handok was established with a share distribution of 49 percent to Handok and 51 percent to Sobi in March, reflecting a strong partnership aimed at addressing rare diseases.

Sobi-Handok will introduce Sobi's innovative orphan drugs to the Korean market. Among the notable treatments are Empaveli (paroxysmal nocturnal hemoglobinuria treatment), Doptelet (thrombocytopenia), KineretR (rheumatoid arthritis), and Gamifant (hemophagocytic lymphohistiocytosis).

Handok will serve as a strategic cooperation partner for introducing Sobi's rare disease treatments through Handok-Sobi, thereby strengthening its rare disease treatment pipeline. The first collaborative efforts are focused on obtaining domestic approval for Empaveli and Doptelet. Globally, Empaveli generated sales of 190.9 billion won ($138.8 million) and Doptelet 389.6 billion won in 2023.

"Rare diseases represent a field with a high level of unmet medical needs, and there is a tremendous necessity for treatments," Handok Chairman Kim Young-jin said. "We are committed to introducing innovative rare disease treatments in Korea to enable more patients to access these critical therapies."

Sobi CEO Guido Oelkers also said, "The Sobi-Handok joint venture is another crucial step in fulfilling Sobi's mission to transform the lives of patients with rare diseases globally."

Sobi looks forward to developing further cooperative efforts to enhance treatment options for rare disease patients in Korea, Oelkers added.