Samsung Epis Holdings, Samsung's bio holding company, said on the 16th that its subsidiaries Samsung Bioepis and EPIS NexLab signed a joint research and license agreement with G2GBIO to develop obesity treatments. It did not disclose specific financial terms or conditions.
G2GBIO was founded in 2017 by researchers who left Peptron, and its core technology is the long-acting platform "INOLAMP," which extends the dosing interval for obesity treatments to once a month. With a single injection, the drug is released steadily in the body for one to several months to maintain efficacy.
The purpose of this agreement is for Samsung Bioepis and EPIS NexLab to develop a long-acting obesity treatment using G2GBIO's drug delivery technology.
Under the agreement, Samsung Bioepis will introduce development and commercialization rights to G2GBIO's pipeline and push ahead with product development. EPIS NexLab will conduct joint research with G2GBIO to build a long-acting drug delivery technology platform.
Samsung Bioepis secured exclusive development rights for two candidates, including a long-acting semaglutide-based obesity treatment, and agreed to pay an upfront payment and milestone payments. Semaglutide is a glucagon-like peptide (GLP)-1 class drug that suppresses appetite and lowers blood sugar, used to treat diabetes and obesity. The two companies also agreed on a right of first negotiation for collaboration on three additional drug candidates.
Samsung Epis Holdings also said it signed an agreement to invest in 20 billion won of convertible bonds (CB) to be issued by G2GBIO. Through this, the two companies formed a strategic partnership that combines financial investment and research collaboration.
Kim Kyung-ah, president of Samsung Epis Holdings, said, "This agreement will serve as a stepping stone to grow into a comprehensive bio company through the development of various new drugs," adding, "It is an example of an open innovation strategy that leverages synergy among affiliates under a holding company structure."
Lee Hee-yong, CEO of G2GBIO, said, "In connection with building our second GMP facility, we have secured a production base capable of supplying products to the global market," adding, "As our partner bears the development expense for the candidates, including the obesity treatment, this will be an opportunity to prove both our technology and business potential."