LG Chem, which absorbed LG Life Science, the bio and pharmaceutical subsidiary of LG Group, in 2017, is accelerating efforts to develop innovative new drugs such cancer, immune disorder and metabolic disease medications. The company is now expanding networking with foreign bio and research institutes who own innovative technologies by dramatically expanding its business development department.
Last year, LG Chem signed a deal to enter a multi-target strategic collaboration with Cue Biopharma, an innovative immunotherapy company listed in the NASDAQ, to develop multiple Immuno-STAT biologics focused in the field of oncology.
The collaboration provides LG Chem with the rights to develop and commercialize, in Asia, Cue Biopharma’s lead product, CUE-101, as well as Immuno-STAT biologics that target T cells against two additional cancer antigens.
CUE-101 is entering a clinical test Phase I. LG Chem and Avacta, a U.K.- based pharmaceutical company, have joined forces to develop a next-generation protein therapeutics that can overcome the limitations of existing antibody drugs.
Avacta Group Plc (LON:AVCT) offers reagents and therapeutics based on Affimer technology for diagnostic and research applications in the United Kingdom. The company’s custom Affimer products are also used in drugs and biomarkers discovery in biotech research and development.