SK Biopharmaceuticals Makes Big Bets to be 'Big Biotech'

News provided by

Jul 17, 2023, 21:00 ET

SK Biopharmaceuticals CEO Donghoon Lee maps out its medium to long-term strategy at a press conference

SK Biopharmaceuticals mobilizes its cutting-edge modality platforms of radiopharmaceutical therapy (RPT), targeted protein degradation (TPD), and cell and gene therapy (CGT) aligning with its vision

SK Biopharmaceuticals eyes oncology, the world's largest therapeutic area, via RPT, TPD, while moving to launch 2^nd commercial product by 2025 through an acquisition

SEOUL, South Korea, July 17, 2023 /PRNewswire/ -- SK Biopharmaceuticals announced that it has unveiled its new strategy that will enable the company take a leap toward becoming a global "big biotech."

SK Biopharmaceuticals' Chief Executive Officer Donghoon Lee presented the new vision at a press conference in Seoul, Tuesday, introducing its plan to globalize and mobilize its therapeutic modalities and platforms of radiopharmaceutical therapy (RPT)^[1] and targeted protein degradation (TPD)^[2].

The company will strengthen ties with TerraPower, a U.S. nuclear innovation company in which SK Group is one of its largest investors, and expand into oncology, the world's biggest therapeutic area, as it seeks to become one of major RPT players in Asia and the U.S.

SK Biopharmaceuticals will reinforce its TPD platform, following the recent acquisition of Proteovant Therapeutics, a U.S. biotechnology company. This has enabled the company not only to secure a global R&D center for cancer treatment, but also adopt the TPD technology to further develop new drugs for central nervous system (CNS) diseases.

Mr. Lee added the company will venture into new cell and gene therapies^[3] with SK Inc. and SK Pharmteco, using and sharing each of their resources in research and development, production, and distribution that form SK Group's entire "bio value chain."

The company will also seek to launch its second commercial product via an acquisition by 2025, aligning with its medium to long-term strategic goals.

"SK Biopharmaceuticals will reposition itself as a global big biotech with a unique business model as it will extend its capability beyond being a single asset-based company into a tech platform one, while expanding into biologics from small molecule targeted therapy, and oncology from CNS," said Mr. Donghoon Lee, Chief Executive Officer of SK Biopharmaceuticals. "A synergy with SK Group will further spur the company to create new opportunities and value in the mid to long term."

About SK Biopharmaceuticals

SK Biopharmaceuticals and its U.S. subsidiary SK Life Science are global biotech companies focused on the research, development and commercialization of treatments for disorders of the central nervous system (CNS). The companies have a pipeline of eight new compounds in development for the treatment of CNS disorders, including epilepsy. Additionally, SK Biopharmaceuticals is focused on early research in oncology. For more information, visit SK Biopharmaceuticals' website at www.skbp.com/eng and SK Life Science's website at www.SKLifeScienceInc.com.

References

1. Radiopharmaceutical therapy (RPT) involves the targeted delivery of radiation to tumor cells or to the tumor microenvironment. This treatment approach is distinguished from external beam radiotherapy and brachytherapy in that the radiation is delivered by unencapsulated radionuclides. (National Library of Medicine: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6310043/#:~:text=Radiopharmaceutical%20therapy%20(RPT)%20involves%20the%20targeted%20delivery%20of%20radiation%20to,is%20delivered%20by%20unencapsulated%20radionuclides. Accessed July 2023)

2. Targeted protein degradation (TPD) is an emerging therapeutic modality with the potential to tackle disease-causing proteins that have historically been highly challenging to target with conventional small molecules. (Nature: https://www.nature.com/articles/s41573-021-00371-6. Accessed July 2023)

3. Cell and gene therapies are a transformative new category of medicines whose full potential is only just beginning to emerge. Standard, small-molecule treatments are produced in a standardised fashion, and most are relatively short-lived within the body. (UK BioIndustry Association: https://www.bioindustry.org/policy/strategic-technologies/cell-and-gene-therapy.html. Accessed July 2023)

SOURCE SK Biopharmaceuticals Co., Ltd