Elasmogen Secures South Korea Deal
The Aberdeen University spin-out will receive an initial up-front payment along with future milestone and royalty payments.
Aberdeen-based company Elasmogen has secured a landmark deal with a South Korean company to provide its groundbreaking technology.
The biopharmaceutical company has entered a license agreement with drug development firm, ImmunoForge, to provide its NDure half-life extension technology.
This agreement will see ImmunoForge carry out pre-clinical and clinical development, as well as the manufacturing and commercialisation of the resulting products.
As part of the deal, Elasmogen will receive an initial up-front payment along with future milestone and royalty payments.
Elasmogen’s NDure albumin binder is based on the company’s existing soloMER platform.
SoloMER’s are small, naturally occurring binding domains. The simple molecular architecture of these domains facilitates easy combination with a wide range of proteins and peptides; enabling the rapid development of multi-functional therapeutics.
Commenting on the agreement, Elasmogen CEO Caroline Barelle said: “This licensing agreement provides further validation of the benefits of our soloMER platform and NDure technology.
“At less than 1/10th the size of an antibody, NDure allows rapid re-formatting and simple manufacturing while retaining all of the benefits of high specificity albumin binding.”
ImmunoForge is a spin-out from Gachon University in South Korea, which specialises in drug development for sarcopenia and cancer.
The company is currently developing treatments for Duchenne muscular dystrophy, ALS, senile sarcopenia and cancer cachexia.
ImmunoForge CEO, Sung-Min Ahn, said: “Using Elasmogen’s proprietary technology, ImmunoForge will develop first-in-class dual hybrid agonists.
“The new dual-hybrid agonists will strengthen our sarcopenia pipeline and make new breakthroughs in the treatment of neurodegenerative diseases.”