Samjin Pharmaceutical said on the 7th that it was selected for the World Class Plus Project support program led by the Ministry of Trade, Industry and Energy. The company will receive research and development (R&D) funding totaling 4 billion won over four years.
The program supports mid-sized corporations with packages that include research and development (R&D), exports, financing, and consulting to cultivate them into companies with international competitiveness. The government selected 10 mid-sized corporations with high growth potential in advanced industries such as biotech, semiconductors, and artificial intelligence (AI), and Samjin Pharmaceutical was named a representative company in advanced biotech.
Samjin Pharmaceutical received high marks for difficulty and commercialization potential through its project "Advancing innovative new drugs and developing formulation and antibody-drug conjugate (ADC) platform-based technologies." In particular, the immuno-inflammation therapeutic candidate "SJN314" and the ADC platform were assessed as core technologies with strong commercial potential.
The company said it will pursue global commercialization through this project with a focus on three growth strategies: ▲ expanding indications for SJN314 ▲ building a full-lifecycle ADC platform ▲ advancing the next-generation controlled-release formulation platform.
SJN314 is a next-generation therapy based on MRGPRX2 that has completed preclinical studies and is entering clinical trials, with the goal of entering the global market by expanding into various indications. The ADC platform is working to secure competitiveness in oncology by leveraging in-house payload and linker technologies.
Samjin Pharmaceutical currently has 16 new drug pipelines and continues to invest about 12% of sales in research and development (R&D). Based on a collaboration network with global pharmaceutical companies, it plans to expand technology exports and step-by-step technology transfer, link them through to commercialization, and accelerate entry into the global market.
Lee Su-min, head of research and development at Samjin Pharmaceutical, said, "This selection recognizes the commercialization potential of our new drug pipelines and platform technologies," adding, "We will continue research and development to expand global technology exports."