- AUM will receive worldwide rights excluding Korea in all indications
- Handok, CMG (combined market cap of >1 Trillion KRW) will execute a stock purchase program with AUM Biosciences
- CHC2014 is a highly selective TRK kinase inhibitor with excellent efficacy in vitro and safety profile in humans
- CHC2014 has the potential of overcoming the acquired resistance like mutations
SINGAPORE--(BUSINESS WIRE)--#Oncology--AUM Biosciences (“AUM”), a global, clinical stage biotechnology company focused on discovering, acquiring and developing next generation targeted oncology therapeutics today announced it has entered into a strategic collaboration agreement with Handok Inc [002390: KOSPI] (“Handok”) and CMG Pharmaceutical Co. Ltd [KOSDAQ: 058820] (“CMG”) for the worldwide (ex-Korea) development, manufacturing and commercialisation rights of a highly specific, safe and efficacious Pan-TRK inhibitor. Financial terms of the agreement were not disclosed.
CHC2014 is completing a Phase I in Korea and has shown promising data to justify advancement to a tumor agnostic registrational program. CHC2014 has shown superior in-vivo anti-tumor activity compared to available treatment options. It has shown strong efficacy on solvent front and gatekeeper mutations addressing a unique solution to the current challenge in TRK Inhibitor market.
“We are glad to enter in a partnership with AUM to advance the global development of innovative targeted cancer therapy CHC2014, which is being co-developed by Handok-CMG-NOV and was successfully studied in phase 1 trial in Korea. After successful development of CHC2014 by AUM management with global capability, we expect that CHC2014 can help improving the lives of patients with rare cancers” commented by Young-Jin Kim, Chairman and CEO of Handok, Inc.
“CHC2014, once developed as a new pan-TRK inhibitor, will provide another solution to cancer patients with TRK-fusion”, and “We expect AUM Biosciences specializing for target-specific anti-cancer small molecules to successful global development and commercialization of CHC2014 for the patients”, said Mr. Joohyung Lee, CEO of CMG Pharmaceutical.
AUM “portfolio-model” strategy has made significant progress since its establishment through strategic collaborations and partnerships with leading academic institutions and pharmaceutical and biotech companies globally.
“We thank Handok and CMG for its trust in AUM and its continued support in further developing the CHC2014 asset worldwide. We are very encouraged by the clear scientific and clinical differentiation that CHC2014 presents as compared to the other TRK inhibitors” commented Vishal Doshi, CEO, AUM Biosciences. “We are delighted to onboard Handok and CMG as a strategic investor in AUM”
About AUM Biosciences
AUM Biosciences is a global clinical stage biotech company, focused on discovering and developing novel targeted oncology therapies, particularly for cancers with a clear genetic marker. The management team has an extensive track record of selecting distinctive early stage assets, successfully exiting virtual biotech models, and have contributed significantly to the development of several currently marketed oncology treatments with annual peak sales up to $3B. AUM was founded to enable a holistic strategy for drug development and improving the probability of success with a focus on synergism, sustainability and scalability.
HANDOK, a leading innovation-driven pharmaceutical/healthcare company in Korea, develops and distributes healthcare solutions to improve health and quality life for all. Handok has a core business focus in diabetes, rare diseases, cardiovascular, muscular skeletal, psychoneurotics disease, human vaccines, medical devices, diagnostics and consumer health. Handok, founded in 1954, grew as a joint venture with Hoechst/Aventis/Sanofi from 1964 to 2012. Handok has also established strategic collaborations in several areas with multiple multinational pharmaceutical companies. For more information, please visit www.handok.co.kr.
About CMG Pharmaceutical
CMG Pharmaceutical, listed on Kosdaq, is an affiliated company of CHA Biotech. Strategy of ‘Open Innovation’ pursued by CMG is to license-in competitive new drug candidates at their early stage and to co-develop new drug with global partners to maximize their value. Recently, CMG has signed MOU with LS Pharma, a formulation research company to develop new products. Through this MOU, CMG will acquire various formulation technologies and plan to develop diverse bio-healthcare solutions for chronic diseases and rare diseases as well as oral and biomaterial products etc. CMG through expansion of its manufacturing capacity and new product portfolios plans to secure competitiveness in domestic market and at the same time diversify business segments with continuous R&D Investment for its global market.