LigaChem Biosciences invests ₩36.6B in its UK partner

LigaChem Biosciences invests ₩36.6B in its UK partner and becomes the largest shareholder of Iksuda

Invests 25 million dollars in UK Iksuda Therapeutics, securing a 26.6% stake

Also secures the right to purchase existing investors’ shares, allowing it to acquire up to 73.9% of Iksuda’s stock

LigaChem Biosciences announced on the 21st that it will invest USD 25 million (about KRW 36.6 billion) in its partner, UK-based Iksuda Therapeutics, to participate in management.

 

The first USD 15 million was invested in the fourth quarter of last year.

 

The additional USD 10 million will be invested in the middle of this year.

 

After the investment is completed, LigaChem Biosciences will secure a 26.6% stake in Iksuda.

 

In addition to this equity investment, LigaChem Biosciences has also secured the right to purchase the shares of Iksuda’s existing major investors and the actual rights to the Iksuda pipeline.

 

LigaChem Biosciences has signed an agreement with existing major investors so that the company can purchase the investors’ shares within 3 years at the investment principal.

 

This will enable LigaChem Biosciences to secure up to 73.9% of Iksuda’s shares.

 

This means that LigaChem Biosciences will be able to substantially lead the management of Iksuda and the development of its pipeline.

 

Based on this investment, LigaChem Biosciences plans to accelerate the clinical development of Iksuda's ADC pipeline to bring it to the global market sooner.

 

In particular, the company plans to speed up the technology transfer of HER2-ADC and expand and conduct additional multinational clinical trials targeting patients resistant to existing ADC competitors in the market to increase the value of the pipeline.

 

Iksuda has introduced technologies for multiple substances from LigaChem Biosciences.

 

It has a number of pipelines, including LCB14 (HER2-ADC), LCB73 (CD19-ADC), and IKS04 (CanAg-ADC) and IKS012 (FRα-ADC) acquired through platform technology transfers.

 

Iksuda is working to license out a number of programs in their clinical stages, including LCB14 and LCB73, which were developed by LigaChem Biosciences, to global pharmaceutical companies.

 

“Through this investment, we plan to focus on early clinical development and commercialization of the pipelines of both companies by utilizing the abundant clinical development capabilities of Iksuda with its specialty in the ADC field,” said Yong-Zu Kim, CEO of LigaChem Biosciences.

 

“In addition to this investment, we plan to further strengthen open innovation to secure future growth engines to achieve VISION 2030 sooner.”