LG Chem teams up with AvactaLG Chem Life Sciences and U.K.-based Avacta Group will collaborate to develop therapeutic proteins to fight cancer and immune disorders, the local company said Tuesday.
The product will treat tumors and inflammatory diseases that occur due to a weakened immune system. Bio tech company Avacta has its own technology, called Affimer, to develop therapeutic protein that works in a similar way to antibody drugs but produces very small molecules of up to one-tenth the size of other commercially available antibodies.
Antibody drugs produce protein inside the body to specifically attack and kill unfriendly cells. Avacta’s smaller molecules are better able to attach to target cells, increasing the possibility that treatment will work.
Avacta will be in charge of developing and optimizing the drug candidate, while LG Chem will be responsible for preclinical tests, commercialization and marketing worldwide.
LG Chem will have exclusive rights for distribution while Avacta will be given milestone payments.
“Avacta’s Affimer technology overcomes the limits of existing antibody drugs. Combined with LG Chem’s capacity in development and production, the outcome will take us to a new realm of bio tech,” said Son Jee-woong, president of LG Chem Life Sciences.
BY SONG KYOUNG-SON [firstname.lastname@example.org]