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According to Pulse by Maeil Business News Korea,
CHA Biotech Co., a leading stem cell company in South Korea, has agreed to cooperate with U.S. drug developer Sorrento Therapeutics Inc. to develop an innovative cancer immunotherapy drug based on their respective proprietary technology.
CHA Biotech said on Tuesday that it and Sorrento agreed to invest $2 million each to set up a joint venture for their joint research to develop new drugs in Korea, with the Korean company holding a 51 percent stake and its U.S. counterpart with a 49 percent stake. The new entity will become a subsidiary of CHA Biotech.
The two companies have named their investigational drug ‘CAR-NK treatment’ that will bring a precision radar to activated natural killer (NK) cells for navigation in their way to attack only cancer cells. The investigational drug aims to lower side effects of existing drugs using NK cells and increase the cell’s attack ability.
The new drug’s cancel cell attack accuracy will be boosted by a chimeric antigen receptor (CAR), a hybrid cell-surface protein that can detect cancer cells precisely. CHA Biotech and Sorrento expect this approach to be a significant progress in cancer treatment.
CHA Biotech will be responsible for developing natural killer cells and Sorrento will be responsible for the CAR. CHA Biotech has technology to culture massive NK cells, and its activated natural killer cells were proven safe in many clinical trials in Korea and overseas.
Sorrento is a well-known CAR developer in the United States. It established a joint venture with another Korean pharmaceutical company Yuhan in March.
By Shin Chan-ok
Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.
Source: Pulse by Maeil Business News Korea (Aug. 3, 2016)