LG Chem(051910) said on the 19th that it will enter preclinical trials for a next-generation immuno-oncology drug candidate. Immuno-oncology drugs are treatments that activate a patient's immune system so immune cells attack cancer cells.
LG Chem brought in the immuno-oncology drug candidate GNV205 from the domestic biotech Genub on Sep. last year. The company will launch preclinical studies targeting solid tumors. It will pay milestones (license fees) according to development stages including clinical trials. If the drug reaches the market, it will pay a portion of sales revenue as royalties.
LG Chem plans to develop a therapy for patients who do not respond properly to existing immuno-oncology drugs or who have developed resistance. The company said that through open innovation (open innovation), LG Chem will develop into an anticancer drug the candidate discovered by a domestic biotech.
Son Ji-ung, head of the life sciences division at LG Chem, said, "We will pursue a balanced approach between in-house research and development and external technology adoption."