Pharos AI Bio, an artificial intelligence-based drug development company, announced on May 14 that it has signed a strategic memorandum of understanding (MOU) with Kolon Pharmaceutical's new drug division to develop a next-generation lung cancer treatment, PHI-701.
The agreement aims to combine Pharos AI Bio's AI drug design technology with Kolon Pharmaceutical's clinical translational research capabilities to expand joint research and development efforts. The two companies plan to develop a next-generation epidermal growth factor receptor (EGFR) mutation inhibitor that can overcome the resistance limitations of existing treatments.
According to global market research firm DelveInsight, the global market for EGFR mutation-targeted non-small cell lung cancer treatments is expected to grow at a compound annual growth rate (CAGR) of approximately 7.3%, reaching about $14.6 billion by 2036.
The companies will work together to derive new candidate substances targeting EGFR protein mutations, which are known to be a major cause of non-small cell lung cancer, with the goal of entering preclinical trials.
Pharos AI Bio will focus on designing small molecule compounds and securing the candidate substance PHI-701 using its AI drug development platform, Chemiverse. Kolon Pharmaceutical's new drug division plans to conduct translational research, including mechanism studies and non-clinical efficacy evaluations of PHI-701.
While existing third-generation EGFR-targeted therapies have improved efficacy compared to traditional chemotherapy, they have been criticized for the emergence of mutations within one to two years of treatment.
In response, the two companies are focusing on overcoming resistance through a "dual mechanism." They aim to develop a fourth-generation EGFR inhibitor that selectively suppresses mutated proteins while blocking alternative survival pathways in cancer cells. Analysts believe this approach will address unmet patient needs and drive market expansion.
Yoon Jeong-hyuk, CEO of Pharos AI Bio, stated, "We plan to accelerate the creation of results by expanding our AI drug design capabilities through external collaborations and joint research and development. We will also demonstrate the scalability and competitiveness of our platform in the high-value oncology market."
* This article has been translated by AI.
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