Samsung Biologics signed a partnership deal with LegoChem Biosciences focused on the development and production of antibody-drug conjugates (ADCs).
Although financial details of the deal weren’t disclosed, under the terms of the agreement, Samsung Biologics will provide ADC development and drug substance manufacturing services to LegoChem for its solid tumor program, the CDMO said Wednesday.
LegoChem is shooting to submit an IND application to the FDA in the first half of 2025, with nonclinical data showing promising efficacy results.
“Collaboration between Samsung Biologics and LegoChem Biosciences will enable us to deliver on our common goal to develop and manufacture efficient and safe therapeutics for patients,” John Rim, Samsung Biologics’ CEO and president, said in the release. “We look forward to working with LegoChem Biosciences to support their pipeline of innovative ADC candidates and secure new opportunities in the fast-growing ADC field.”
LegoChem recently raised 548.5 billion South Korean won ($411 million) by selling a roughly 25% stake to the confectionery company Orion. The investment supports the ADC specialist’s plan to invest 1 trillion won ($747 million) in R&D over the next five years.
Additionally, Samsung Biologics said it remains on track to complete its dedicated ADC facility in Incheon, South Korea, and have it operational this year. ADC manufacturing will take place in a facility within Plant 4 that is part of Samsung Biologics’ sprawling manufacturing complex.
The company also said it continues to actively invest in biotech companies that are advancing ADC linker technologies through its Samsung Life Science Fund.
Two weeks ago, the South Korean CDMO reported that in the fourth quarter it earned 1.07 trillion won (about $802 million) in sales, marking an 11% increase over the same period in 2022. For the full year, Samsung grew sales 23.1% to 3.69 trillion won ($2.8 billion).