VaxCell-Bio announced on the 21st that it is acquiring and merging with the new drug development company ALB Biotech (ALB).
VaxCell-Bio is developing natural killer (NK) cell therapies and chimeric antigen receptor (CAR) cell therapies for the treatment of blood cancer and solid tumors. ALB Biotech has a bispecific antibody platform called "ALiTE" and drug delivery system (DDS) technology. DDS is a technology that transforms injectable medications into oral or topical forms.
VaxCell-Bio plans to diversify its innovative cancer treatment pipeline by integrating the advanced drug technologies of both companies. Along with this merger, Jeong-min Lee, the CEO of ALB, will join VaxCell-Bio. Lee has previously served as the Deputy Minister of R&D at Yungjin Pharm, SINIL Pharmaceutical, JIN YANG PHARM, and Samil Pharmaceutical.
VaxCell-Bio's CEO, Lee Jea-joong, noted, "I expect that VaxCell-Bio's cancer immunotherapy technology can be further advanced and diversified based on ALB's bispecific antibody technology. This merger has also provided new momentum for the commercialization of various cancer treatments currently under development, as Jeong-min Lee, an expert in new drug development and pharmaceutical commercialization, joins VaxCell-Bio."
VaxCell-Bio completed the absorption merger with the pharmaceutical distribution company SH Pharm last October. The company's BaxLukin-15, approved as the country's first immunotherapy for dogs, is expected to be distributed nationwide through the Yuhan Corporation's network of veterinary hospitals.