[헬스케어 소식] Transfer of Targeted Protein Decomposition Technology to U.S. Pharmaceutical Company… Value of Over 1 Trillion Won… ‘Big Deal’ Success for 2 Consecutive Years

2024-07-24 07:09:11

Bio-company ‘Orum Therapeutics’
Signing a contract with Vertex
Depending on the future development stage
Additional options worth 1.3 trillion won

Orom Therapeutics recently signed a technology transfer agreement with American pharmaceutical company Vertex Pharmaceuticals for dual precision targeted protein degradation (TPD) technology. Getty Images Korea

Lee Seung-joo, CEO of Orum Therapeutics

Following last year’s technology transfer, Orom Therapeutics is once again attracting attention from the industry as it succeeded in transferring technology worth over 1 trillion won.

Orom Therapeutics recently announced that it has signed a technology transfer agreement for dual precision targeted protein degradation (TPD) technology with American pharmaceutical company Vertex Pharmaceuticals.

The agreement gives Vertex access to research using Orom Therapeutics’ TPD technology to discover novel precursors for gene-editing therapies.

TPD is a field that is receiving a lot of attention in the bio industry because it targets disease-causing proteins more accurately than antibody-drug conjugates (ADCs), which have recently been gaining attention.

According to global market research firm Roots Analysis, the TPD market is expected to grow at an average annual rate of 32% from approximately KRW 663 billion this year to KRW 10 trillion by 2035.

Orom Therapeutics will receive an upfront payment of $15 million (approximately KRW 20.8 billion). Depending on the development stage, it will receive additional options and milestones of up to $310 million each for up to three targets (approximately KRW 1.3 trillion for the three combined). Annual sales royalties upon commercialization of the pretreatment agent are separate.

This achievement is the second achievement following the technology transfer agreement with Bristol-Myers Squibb (BMS) of the United States at the end of last year. Orum Therapeutics signed a contract to transfer technology for the acute myeloid leukemia treatment drug ‘ORM-6151’ to BMS.

At the time, the contract size was a total of 180 million dollars (approximately 248.9 billion won), including the contract fee and additional milestones to be received later. Of this, 100 million dollars (approximately 138.2 billion won) was received up front.

As the investment climate in the bio industry is not good these days, the industry’s attention is focused on the background of the technology transfer achievements made by Orom Therapeutics.

“Vertex is the first company to have a CRISPR-Cas9 gene-editing therapeutic approved by the U.S. Food and Drug Administration (FDA),” said Seungjoo Lee, CEO of Orum Therapeutics, regarding this technology transfer. “This agreement opens up the possibility that our leading targeted protein degradation approach could treat a new group of patients in a new indication space.”

Reporter Kim Shin-a [email protected]

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2024-07-24 07:09:11