LG Chem announced it has begun preclinical studies for 'GNV205', an immunocytokine candidate acquired from domestic biotech company Genev. This initiative aims to evaluate the potential for developing next-generation immuno-oncology therapies and to expand its cancer treatment portfolio.
In September 2022, LG Chem secured exclusive global development and commercialization rights for GNV205 through a contract with Genev, which included an upfront payment and additional conditional milestone payments and sales royalties during the development and commercialization phases.
GNV205 is a fusion of a PD-1 antibody that releases immune suppression signals and the cytokine IL-2 (interleukin-2) that activates the immune system. It is designed to optimize activity in the highly acidic tumor microenvironment, allowing IL-2 to act selectively around cancer cells. This approach is expected to minimize systemic toxicity while enhancing the immune therapeutic effect. LG Chem plans to develop GNV205 as a next-generation treatment targeting patients who do not respond adequately to existing immuno-oncology therapies or have developed resistance.
Genev, established in 2016, has been developing innovative drugs in oncology and central nervous system fields based on its proprietary drug development platform.
Son Ji-woong, head of LG Chem's Life Sciences Division, stated, "We plan to continue expanding our oncology drug projects by balancing in-house research and the introduction of external innovative technologies. This collaboration signifies the expansion of innovative assets discovered by domestic biotech into a next-generation global oncology portfolio."
Meanwhile, LG Chem reported a successful turnaround to profitability in the second quarter of this year, exceeding market expectations. The volatility in raw material prices due to conflicts in the Middle East has positively impacted profitability through favorable inventory lag effects.
For the second quarter, LG Chem announced consolidated revenues of 14.1759 trillion won and an operating profit of 599.6 billion won. Notably, the life sciences division recorded revenues of 369 billion won and an operating profit of 60 billion won, driven by increased export shipments compared to the previous quarter.
In September 2022, LG Chem secured exclusive global development and commercialization rights for GNV205 through a contract with Genev, which included an upfront payment and additional conditional milestone payments and sales royalties during the development and commercialization phases.
GNV205 is a fusion of a PD-1 antibody that releases immune suppression signals and the cytokine IL-2 (interleukin-2) that activates the immune system. It is designed to optimize activity in the highly acidic tumor microenvironment, allowing IL-2 to act selectively around cancer cells. This approach is expected to minimize systemic toxicity while enhancing the immune therapeutic effect. LG Chem plans to develop GNV205 as a next-generation treatment targeting patients who do not respond adequately to existing immuno-oncology therapies or have developed resistance.
Genev, established in 2016, has been developing innovative drugs in oncology and central nervous system fields based on its proprietary drug development platform.
Son Ji-woong, head of LG Chem's Life Sciences Division, stated, "We plan to continue expanding our oncology drug projects by balancing in-house research and the introduction of external innovative technologies. This collaboration signifies the expansion of innovative assets discovered by domestic biotech into a next-generation global oncology portfolio."
Meanwhile, LG Chem reported a successful turnaround to profitability in the second quarter of this year, exceeding market expectations. The volatility in raw material prices due to conflicts in the Middle East has positively impacted profitability through favorable inventory lag effects.
For the second quarter, LG Chem announced consolidated revenues of 14.1759 trillion won and an operating profit of 599.6 billion won. Notably, the life sciences division recorded revenues of 369 billion won and an operating profit of 60 billion won, driven by increased export shipments compared to the previous quarter.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.