Genexine To Merge with EPD Biotherapeutics For Drug Development

India Pharma Outlook Team | Monday, 08 July 2024

 biopharmaceutical company, medical needs

Genexine, a publicly traded clinical-stage Korean biopharmaceutical company dedicated to the discovery and development of novel biologics for the treatment of serious unmet medical needs, has announced a merger with EPD Biotherapeutics (EPD Bio), a firm developing a groundbreaking targeted protein degradation (TPD) bioPROTAC platform technology, to bolster its research workforce and expand 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.

Dr. Jaehyun Choi, EPD Bio's founder and CEO, is an expert in targeted protein degradation technology. He 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, working with EPD Bio's core research team.  

Genexine said that at its board of directors meeting on June 26th, it chose to merge with EPD Bio in a small-scale transaction. The merger ratio is 1:6.1924079, and Genexine will issue additional shares to EPD Bio's current shareholders based on this ratio. Detailed merging procedures are expected to be completed by early October.

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