DongKoo Bio & Pharma (006620.KS) is moving to commercialize transdermal drug delivery system (TDDS) technology, which delivers drugs through the skin.
The company said on Oct. 16 that it will sign a three-way letter of intent (LOI) with U.S. biotech firm Pelamore and Link Korea on Oct. 23 to develop and commercialize next-generation transdermal drug delivery technology in South Korea.
Pelamore is a U.S. biotech company that holds TDDS technology. Based on its own lipid vesicle and skin penetration technology, it is developing a method to deliver active ingredients through the skin without microneedles. The company is also exploring applications in high-functional cosmetics and wellness products, in addition to pharmaceuticals.
The three companies plan to establish a special purpose company (SPC) in South Korea and build a cooperative framework for commercializing the technology. Through the partnership, DongKoo Bio & Pharma plans to focus on developing high-value-added products using the drug delivery platform and on securing manufacturing competitiveness. The company also aims to identify new business opportunities in adjacent areas such as cosmetics and wellness, and to strengthen its pharmaceutical research and development capabilities over the medium to long term. Link Korea will support the commercialization network.
"This will be an important opportunity to strengthen our differentiated technology-based development and production capabilities, going beyond manufacturing competitiveness centered on generics," said Cho Yong-jun, chairman of DongKoo Bio & Pharma. "We will expand high-value-added business opportunities across various healthcare fields and build a foundation for sustainable growth."