S. Korea's LegoChem agrees to transfer anti-cancer technology to Takeda Oncology
SEOUL AJU - LegoChem Biosciences (LCB) a biopharmaceutical company in South Korea, agreed to transfer its original technology to a subsidiary of Japan's Takeda Pharmaceutical for the development of immunological anti-cancer candidates.
LCB said in a regulatory filing on Friday that it would transfer its antibody-drug conjugates (ADC) platform to Takeda Oncology, formerly known as Millennium Pharmaceuticals based in Cambridge, for 445.8 billion won ($395 million). Royalties are separate and Takeda Oncology won exclusive rights to the development and commercialization of future candidate substances.
ADC is an important class of highly potent biopharmaceutical drugs designed as a targeted therapy for the treatment of people with cancer. The platform is intended to kill only cancer cells and spare healthy cells.
“With this agreement, our ADC technology is recognized as a platform technology that can be commercialized by multinational pharmaceutical companies,” LCB CEO Kim Yong-ju said in a statement. “We will demonstrate the competitiveness of LegoChem Biosciences in the global ADC market through the successful commercialization of various pipelines.”
LegoChem develops next-generation antibiotics, anticoagulants, and anticancer therapeutics. In 2017, Takeda Oncology secured an exclusive option to license global rights to LCB's technology.