CJ HC has concluded joint development agreement
11th May 2016
CJ HealthCare has concluded joint development agreement with ANRT for dual target antibody
- CJ HealthCare enters into business alliance with ANRT, a promising venture company for antibody development through open innovation
- Targeting global market with ANRT by developing differentiated new antibody
- Establishment of strategic partnership relationship and expansion of cooperation with equity investment in ANRT
CJ HealthCare (CEO Seok-Hee Kang) signed a contract with ANRT (CEO Young –Woo Park), a new antibody development venture company, to co-develop a dual target antibody at CJ Cheiljedang Center in (Dongho-ro, Jung-gu)Seoul, Korea.
Through this agreement, the two companies will conduct a global joint research on three tasks of the dual target antibodies. As a result, CJ HealthCare has set the stage for expansion of the new antibody market by developing a dual target antibody that can be differentiated in the biopharmaceutical market and ANRT has gained the driving power to propel commercialization using the platform technology of antibody development.
The global biopharmaceutical market has been growing by more than 8% annually, reaching 200 trillion won in 2014. Antibody therapeutic market is expected to grow by more than double digits every year, reaching 70 trillion won. It is expected to grow to 130 trillion by 2020.
The dual target antibody co-developed by CJ HealthCare and ANRT is an antibody that recognizes two targets simultaneously and is expected to improve the effects and side effects compared to a single target antibody through two drug action mechanisms.
Under the agreement, the two companies will jointly conduct research on the task of the dual target antibodies for treatment of rheumatoid arthritis and anti-cancer dual target antibodies.
Established in 2007, ANRT, which has contracted with CJ HealthCare, is an antibody specialist venture company that has been recognized for its core technology for developing a dual target antibody, antibody library and screening capacity, and collaborating with global pharmaceutical companies.
CJ HealthCare has been organizing 'R & D Open Forum' in Korea and abroad since 2011 and has been working on the development of new drugs and biopharmaceuticals through open innovation and selected ANRT's tasks through R & D Open Forum last year.
CJ HealthCare is striving to create a healthy pharmaceutical industry ecosystem in a rapidly changing domestic industrial structure through active open innovation with small and medium-sized enterprises and promising venture companies. Through these activities, we are implementing CSV (creating shared value) management pursued by CJ.
CJ HealthCare CEO Seok-Hee Kang said, "With this agreement, CJ HealthCare will expand its antibody business efficiently and ANRT will also be able to commercialize the antibody technology to raise corporate value." He also said, "We will continue to pursue Open Innovation with more ventures to secure R & D pipeline and create shared value." By saying this, he explained the meaning and aspirations of this contract.
ANRT CEO Young-Woo Park said, "Through this agreement, ANRT's superior antibody drug discovery technology and clinical development and product development capabilities of CJ HealthCare will be synergistic, which will contribute to the enhancement of the enterprise value of both companies. ANRT will continue to work on business alliances with domestic and foreign companies in the near future to discover promising new antibody candidates early for aggressive global commercialization. "
Meanwhile, CJ HealthCare has established a strategic partnership with ANRT in parallel with joint research as well as equity investment and its various cooperation plans will be expanded to advance into the global antibody market through regular exchange of management and technicians.