Daewoong Pharmaceutical signs deal to research on mRNA treatment with U.S. biotech firm

▲ The corporate images of Daewoong Pharmaceutical Co. (top) and Oncorus Inc. (PHOTO NOT FOR SALE) (Yonhap)

pharmaceutical firm-collaboration

Daewoong Pharmaceutical signs deal to research on mRNA treatment with U.S. biotech firm

SEOUL, Jan. 5 (Yonhap) -- Daewoong Pharmaceutical Co., a leading South Korean drugmaker, said Thursday that it has signed a contract with Oncorus Inc., a U.S. biotech company, to cooperate in developing and commercializing messenger RNA (mRNA) drugs for cancer patients.

Under the deal, the two companies will conduct joint research on the discovery and development of novel lipid nanoparticle (LNP) formulations for mRNA drug candidates based on Oncorus' proprietary LNP platform, according to Daewoong Pharmaceutical.

The Korean company said the Massachusetts-based biotech company owns technologies for intravenously administered, self-amplifying RNA formations and LNP platform that delivers mRNA in the body.

Daewoong Pharmaceutical said Oncorus' LNP platform will help the two companies manufacture a successful mRNA drug on both clinical and commercial scales.

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