Genexine Announces Merger with EPD Biotherapeutics to Strengthen Drug Development Pipeline
04 Julio 2024 - 5:22AM
Business Wire
- Merger with EPD Bio, a biotech developing a target protein
degrader (TPD) platform technology
- Jaehyun Choi, Ph.D. founder and CEO of EPD Bio, joins Genexine
as head of R&D
Genexine (KOSDAQ: 095700), a publicly-listed, clinical-stage
Korean biopharmaceutical company committed to the discovery and
development of novel biologics for the treatment of serious unmet
medical needs, announced a merger with EPD Biotherapeutics
(hereinafter referred to as 'EPD Bio'), a company developing an
innovative targeted protein degradation (TPD) bioPROTAC platform
technology, to strengthen its research workforce with expertise in
PROTAC technology and enhance Genexine’s drug pipeline.
“Through this merger, Genexine has secured key talent with
innovative technology that can lead the global market and at the
same time added innovative new drugs based on bioPROTAC technology.
Combining EPD Bio’s bioPROTAC technology with Genexine’s clinical
and CMC development capabilities will enable us to continue
pursuing the development of innovative new drugs that can lead the
global market,” said Sungjune Hong, CEO of Genexine.
EPD Bio founder and CEO Dr. Jaehyun Choi, an expert in the field
of targeted protein degradation technology, previously worked at
Arvinas, a global leader in PROTAC (Proteolysis targeting chimera)
technology and held research and scientific positions at Samsung
Advanced Institute of Technology and Trillium Therapeutics.
Following the merger, Dr. Choi will join Genexine as a
representative director in charge of R&D along with EPD Bio's
core research team. Mr. Hong will continue as a representative
director overseeing corporate development and business
management.
Genexine announced that, at the board of directors meeting held
on June 26th, it decided to merge with EPD Bio through a
small-scale merger. The merger ratio is 1:6.1924079, and Genexine
will issue new shares to the existing shareholders of EPD Bio
according to the merger ratio. Detailed merger procedures are
scheduled to be completed by early October.
EPD Bio is developing EPDegTM, an mRNA-based bioPROTAC
technology that can overcome the limitations of existing small
molecule- based PROTAC technology. The platform creates
fusion-protein degraders delivered as mRNA-LNP whereby they remove
the dependence on tissue specific expression of E3 ligase. As a
unique technology with a potential to be first-in-class, it can
generate a diverse pipeline of TPDs for multiple undruggable
targets in different disease indications. EPD Bio has been
receiving significant attention from the industry domestically and
internationally as EPD Bio won the ‘Korea Startup/Biopharma
Acceleration Program 2023’ led by the Korea Health Industry
Development Institute and Takeda Pharmaceutical which supports
domestic bio pharmaceutical companies to discover and develop
innovative technologies.
RM Global Partners LLC acted as Genexine’s strategic
advisor.
About Genexine
Genexine, Inc. is a publicly traded, clinical-stage
biotechnology company focused on developing and commercializing
immunotherapeutics and next-generation long-acting biologics. Its
primary technology platforms are Therapeutic DNA vaccine technology
and hyFc® fusion technology. The company has multiple products in
clinical development including several undergoing Phase 3
registration trials. The company's proprietary pipeline includes
GX-188E (tirvalimogene teraplasmid) for head and neck cancer and
cervical cancer, GX-I7 (efineptakin alfa) for multiple cancers,
GX-H9 (eftansomatropin alfa) for Pediatric Growth Hormone
Deficiency and GX-E4 for CKD-induced anemia, among others. Genexine
has established multiple partnerships with global companies in
order to expedite product development and commercialization and
create significant value. Genexine is listed on the Korean exchange
(KOSDAQ: 095700) and is headquartered in Seoul, Korea. Genexine is
committed to the well-being and care of patients worldwide. For
more information about Genexine, please visit at
www.genexine.com.
About EPD Bio
EPD Bio is an early-stage biotech company dedicated on
developing novel engineered protein degraders that selectively
degrade the most undruggable disease-causing proteins that cannot
be targeted by current small molecule-based PROTAC (PROteolysis
TArgeting Chimera). The company was founded in 2021 and is based in
Seoul, South Korea.
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Investor Contact: Genexine Inc.
Jongsoo Lee, Investor Relations jongsoo.lee@genexine.com
Kyuri Kim, Investor Relations kyuri.kim@genexine.com