Korean gene therapy development company Algenomics has exported RNA therapy development technology to the American pharmaceutical company Eli Lilly. The total contract size is up to approximately 1.9 trillion won.
Algenomics noted on the 14th that it has signed a strategic global licensing agreement with Eli Lilly to develop a new RNA editing therapy using its RNA substitution technology. The amount of the advance payment has been kept confidential per the agreement between the two companies.
Under this agreement, the two companies plan to develop RNA therapies to treat hereditary hearing loss disorders. Algenomics will conduct initial research and development (R&D), while Eli Lilly will be responsible for subsequent development and commercialization.
Algenomics was founded in 2017 by Professor Lee Seong-wook from the Department of Life Convergence at Dankook University. RNA copies specific parts of DNA containing genetic information to synthesize proteins that influence life phenomena. Algenomics has the foundational technology to cut and modify such RNA using ribozymes.
Ribozymes are also RNA, but they act as enzymes rather than synthesizing proteins. Algenomics stated that it can remove target RNA causing diseases and express RNA that produces therapeutic effects using ribozyme technology. The company's capabilities were recognized when it was selected as a national strategic technology last year.
According to the company, DNA editing technology can allow for permanent treatment with a single correction, but it has the limitation that any incorrect edits that might occur cannot be reversed. RNA editing technology is temporary due to the nature of RNA, and there are difficulties in developing therapies for each nucleotide in genes where multiple mutations are discovered.
Algenomics mentioned that RNA substitution enzyme technology can induce therapeutic effects by targeting the forefront of areas where multiple mutations are found, allowing for edits and corrections, and that it is also possible to target the middle part of the target gene to correct only a portion.
Lee Seong-wook, CEO of Algenomics, expressed, "We are very pleased to collaborate with the global pharmaceutical company Eli Lilly," and added, "Through precise RNA therapies, we will be able to present new solutions for intractable diseases."
Eli Lilly stated, "This partnership is an important milestone for Algenomics as it seeks to expand its position in the global biotech sector," adding, "It will also strengthen Eli Lilly's RNA therapy pipeline and be part of a strategy to seek new solutions in areas with major unmet treatment needs like hearing impairment."