Vaxcell-Bio, a Korean biotech company specializing in immunotherapies, said it entered into an agreement with Yuhan Corp. for the latter to market and distribute Vaxlukin-15, Vaxcell-Bio's immunotherapy for pets, in Korea.

Under the accord, Vaxcell-Bio will focus on expanding the indications of Vaxlukin-15 and continue its research and development, while Yuhan will exclusively market and distribute the product nationwide for three years, leveraging its specialized animal health marketing team and extensive distribution network.

Vaxlukin-15 received regulatory approval in August 2024 as Korea’s first immunotherapy specifically designed for canine mammary tumors.

“Yuhan’s expertise as the market leader in Korea’s animal pharmaceutical industry, combined with its robust marketing capabilities and nationwide distribution network, will synergize with the advanced technology behind Vaxlukin-15,” Vaxcell-Bio CEO Lee Je-Jung said. “We anticipate a strengthened partnership and increased market demand as the indications for Vaxlukin-15 expand.”

Yuhan CEO Cho Wook-Je also said, “Providing this innovative treatment to pets suffering from cancer represents a significant advancement for both animals and their caregivers.

In line with its growth strategy, Vaxcell-Bio recently submitted an application to Korea’s Animal and Plant Quarantine Agency to extend Vaxlukin-15’s indications from mammary tumors to lymphoma in dogs. The company is also conducting separate studies to include feline cancers.

According to market research firm Grand View Research, the global market for pet cancer therapies is expected to grow from $1.18 billion in 2023 to $2.49 billion by 2030, with an estimated compound annual growth rate (CAGR) of 11.29 percent.