As global big pharmaceutical companies move faster to secure next-generation radiopharmaceutical therapies (RPT), Korea-based RPT developers such as FutureChem and SK Biopharmaceuticals are emerging as new collaboration candidates. With major big pharma, including Switzerland's Novartis, which has led the global RPT market, paying attention to the clinical results of Korean biotech, interest is growing in potential technology licensing.
According to the industry on the 26th, global drugmakers such as Novartis, U.S.-based Eli Lilly and Company, Bristol Myers Squibb (BMS), and U.K.-based AstraZeneca are reviewing technology in-licensing to secure new pipelines in the RPT field.
RPT is a next-generation cancer treatment that emits radiation only to cancer cells to kill them. It is a treatment approach that attaches a radioisotope to a targeting molecule that binds to cancer cells, selectively attacking only the cancer cells, based on a principle similar to an antibody-drug conjugate (ADC). Compared with traditional chemotherapy, it is cited for a shorter development timeline and relatively fewer side effects.
Novartis currently leads the global radiopharmaceutical market. Pluvicto, a treatment for metastatic prostate cancer launched in 2022, surpassed $1 billion (1.44 trillion won) in annual sales in 2023, just one year later, becoming the first RPT blockbuster. There is an outlook that last year's sales will exceed 3 trillion won.
Pluvicto has also been prescribed in Korea since Aug. last year. Despite being an expensive therapy costing tens of millions of won per dose and having side effects such as dry mouth, decreased red blood cells, and anemia, its proven high efficacy is driving steady growth in global demand.
Major global pharmaceutical companies are also aggressively pursuing RPT technology. BMS acquired radiotherapy company "RayzeBio" for about $4.1 billion (6.0762 trillion won), securing an actinium-based platform, and AstraZeneca acquired "Fusion Pharmaceuticals" for up to $2.4 billion (3.5568 trillion won). Eli Lilly and Company also bought "POINT Biopharma" for about $1.4 billion (2.0748 trillion won).
However, as recent clinical results in some pipelines have fallen short of expectations, the value of clinical data from Korean corporations is coming to the fore by comparison. Novartis is also considering collaboration with Korean corporations that have RPT technology to cement its No. 1 position in the industry.
FutureChem is cited as the most notable Korean corporation in the RPT field. FutureChem is conducting a domestic phase 3 trial and U.S. phase 1/2a trials of the RPT new drug for prostate cancer "Ludotadipep (FC705)." It was recently known to have attended the "J.P. Morgan Healthcare Conference" held in San Francisco, invited by several global pharmaceutical companies including Novartis.
Ludotadipep is structured by conjugating a radioisotope to a compound that targets prostate-specific membrane antigen (PSMA), featuring a design differentiated from existing RPT therapies. It is designed to bind to albumin, a protein in the blood, so that the drug stays in the body longer. FutureChem expects this will lead to more drug accumulation at the disease site and deliver the same therapeutic effect with a relatively smaller dose.
The industry is also discussing the possibility of FutureChem's technology export. The J.P. Morgan Healthcare Conference is seen as a venue where global big pharma hold private meetings with corporations that possess promising technologies, with invitations extended only to corporations that have undergone prior technical review.
In addition, other Korean RPT developers are also reporting progress. SK Biopharmaceuticals said on the 12th that the U.S. Food and Drug Administration (FDA) approved its phase 1 clinical trial plans for the RPT new drug candidate "SKL35501" and the imaging diagnostic agent "SKL35502." Backed by SK Group, the company is expanding investment in RPT drug development, and Strategy Chief Chey Yoon-chung (executive vice president), the eldest daughter of SK Group Chairman Chey Tae-won, is directly overseeing the overall business from in-licensing candidates to radioisotope supply contracts.
CellBion plans to administer the first dose this month in a phase 1 trial of the combination therapy of the prostate cancer RPT new drug "Pocuvotide" with Merck's (MSD) immunotherapy "Keytruda." It is already engaged in technology transfer discussions with potential partners in various regions, including China, Japan, and Europe.
DuChemBio, a corporation specializing in diagnostic radiopharmaceuticals, holds the No. 1 domestic market share through "Vizamyl" and "Neuraceq," which are used to diagnose Alzheimer's disease.
Before prescribing Alzheimer's treatments, positron emission tomography/computed tomography (PET/CT) must confirm whether amyloid beta protein has deposited in the brain, and DuChemBio's RPT is used in this process. With the domestic launch of Japan's Eisai Alzheimer's drug "Leqembi" approaching and Eli Lilly and Company's dementia drug "Kisunla" also preparing to enter the market, expectations for DuChemBio's growth are rising.
An industry official said, "As global big pharma view RPT as a next-generation growth driver and begin technical reviews, Korean corporations that have entered clinical stages are also gaining presence," and added, "Depending on future clinical results, there is potential not only for technology transfer but also for mergers and acquisitions (M&A)."