LegoChem Biosciences Announces Signing of Both License Agreement and MoU for ADC with Fosun Pharma

Aug. 18, 2015 - PRLog -- Daejeon and Shanghai, August 18,2015

LegoChem Biosciences (141080KS) today announced that they have signed a license and commercialization agreement (the Agreement) with Fosun Pharma (SH: 600196, HK: 02196) on August 17th. This Agreement isno more than KRW 20 billion for one of LegoChem’s Next Generation Antibody-Drug Conjugate (the Product) products and related technology for the Greater China market. Two companies additionally signed a Memorandum of Understanding (MoU) for three other ADC targets.

Antibody-Drug Conjugate (ADC) is mostly used as a next-generation anticancer drug that has gained wide attention in recent years. It is a unique combination of a precise and targeted monoclonal antibody, a linker, and a potent cytotoxic agent, and are designed to deliver potent anticancer agents to tumors in a targeted manner.

The Product is LegoChem’s first and most advanced internally developed ADC product with an undisclosed antibody targeting at multiple indications in cancer. Fosun Pharma will further develop the Product in the Greater China region.

At the priorceremony for signing held in Fosun Pharma in Shanghai, Dr. Yong-Zu Kim, CEO of LegoChem, Mr. Yifang Wu, President of Fosun Pharma Development and SVP of Fosun Pharma Group, discussed further collaboration between two companies.

Mr. Yifang Wu said, “After evaluating multiple ADC technologies from the US, EU and China, we believe that LegoChem is one of the leading second generation ADC technology hubs, and we are pleased to announce that the first collaboration is now in place between Fosun Pharma and LegoChem”. He further added, “As a second step, we signed a MoU for creating a possible collaboration room for both parties on additional ADCs using several antibodies of Henlius, Fosun Pharma’s one of the subsidiaries”. Mr. Wu also mentioned, “We are considering to partner with LegoChem because LegoChem’s pipeline programs fit to Fosun Pharma’s strategy especially in terms of innovation and to move forward to the global market together”.

Dr. Yong-Zu Kim, CEO of LegoChem, said: “We are excited to initiate this opportunity which proves that LegoChem’s ADC technology is now globally recognized, and further allows LegoChem to broaden and accelerate other ongoing discussion with partners from the US, Europe, and Japan.” He further added: “We look forward to partnering with Fosun Pharma, China’s leading pharmaceutical with global competence, and strongly believe that Fosun Pharma will successfully develop the Product and additional target ADCs”.

LegoChem’s ADC technology is the next-generation platform technology that has successfully overcome weaknesses of the first-generation ADC technology, especially the stability in blood. This platform technology can be applied to a wide range of different antibody targets, which can nurture LegoChem’s future revenues.

Under the agreement, Fosun Pharma will receive commercial rights in Greater China area including mainland China, Hong Kong, Macau, and Taiwan, and will continue the development of the Product.

LegoChem will receive milestones and royalties from this deal, and retains commercial rights outside of Greater China area.

This deal was led by Mr. Chun-Il Park, CEO of Zenith Pharm, a Pharmaceutical consultancy based in Beijing, China.

AboutLegoChem Biosciences
LegoChem Biosciences, Inc. (“LegoChem”) is a research-based biopharmaceutical company discovering and developing innovative medicines for unmet medical needs. The Company has established a strong medicinal chemistry team which has brought several small molecule drug candidates into clinical development (antibiotics and anticoagulants), and now expanded to biologics (Antibody-Drug Conjugates) with its proprietary chemical conjugation/linker technology.

Its innovative approach has translated into major alliances with leaders in the biopharmaceutical industry such as Sanofi and AstraZeneca.

The Company has two clinical-stage programs in antibiotics and anticoagulants and multiple preclinical and early stage programs in antibiotics and anticancer drugs.

ListedonKOSDAQ,LegoChemisbasedinDaejeon, South Korea,andhad51employeesasat December31,2014.

LearnmoreaboutLegoChem Biosciencesat www.legochembio.com.

About Shanghai Fosun Pharmaceutical (Group) Co., Ltd.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”，stock code: 600196-SH, 02196-HK) is a leading company in China’s pharmaceutical and healthcare industry. Fosun Pharma’s business covers the key sectors of the pharmaceutical and healthcare industrial chain which includes pharmaceutical manufacture, distribution and retailing, diagnosis and medical devices, as well as healthcare services.

In future, Fosun Pharma will adhere  to its commitment to “Innovation for Good Health” and implement its strategy of organic growth with external expansion and integrated business operation. We are dedicated to becoming a first class enterprise in major global healthcare market.

Click here for more information: http://www.fosunpharma.com.

About Antibody-Drug Conjugate (ADC)

ADC is new cancer therapy that combines antibody with high-potency cytotoxic agents via linkers. The principle underlying the ADC is that antibody specifically targets cancer cells but with a limited potency, while cytotoxic agent has high-potency but no ability to specifically target cancer cells. Therefore, ADC only impacts cancer cells by linking the cytotoxic agent payload to an antibody that specifically binds to a protein that is present on cancer cells and expressed at lower levels in healthy cells.

There are two ADCs approved in the market: SeattleGenetic’s Adcetris for hodgkin lymphoma (sales by Takeda and SeattleGenetics, sales in 2014: $280m) and ImmunoGen’s Kadcyla for breast cancer (sales by Roche, sales in 2014: $550m).

These first-generation ADCs are not site-specific and their linker is not stable in the blood, thus allowing many second-generation ADC companies compete.

LegoChem has worked on its own proprietary technology since 2010 and now successfully developed the site-specific and stable ADC platform technology that overcomes first-generation ADC’s limitations.

The global ADC market is forecasted to reach $6.8 billion[1] in 2020.

[1]Source: Global Data and Bharat Book Bureau