GeneQuantum Healthcare recently received the U.S. FDA's Investigational New Drug (IND) Good to Proceed Letter in May this year for its first anti-HER2 ADC asset, which was manufactured via GeneQuantum's patented intelligent ligase-dependent conjugation (iLDC) technology platform.
Samsung Biologics' says its approach to entering the Chinese market is strategic. The Chinese biopharmaceutical market was worth $38.5 billion in 2019 and is expected to a grow at a rate of 14.4% annually. This new collaboration with a Chinese company follows Samsung Biologics' recent development partnership with an innovative biotech, APRINOIA Therapeutics, further marking the company's strategic entry and presence in the market. GeneQuantum had previously signed its CDO contract with a CDMO partner for its first asset, however has notably chosen Samsung Biologics for its second antibody candidate. As a result of Samsung Biologics' recognized capabilities to achieve best-in-class client satisfaction, the company is currently having extensive discussions with a vast number of potential Chinese clients in the market.
"GeneQuantum is excited to collaborate with Samsung Biologics, a global leading partner with proven development capabilities in the market," said Gang Qin, chief executive officer, GeneQuantum. "One of the decision-making aspects for this partnership was Samsung Biologics' dedication and commitment to providing high-quality services. With this mutually beneficial partnership, we aim to further expand on this development scope to bring innovative treatments for patients."
Tae Han Kim, chief executive officer, Samsung Biologics, said, "We are extremely proud that our CDO capabilities are continuously being recognized in the Chinese market, especially amid the current global climate. By joining forces with a leading biotech company with a distinguished reputation in the market, we hope to further expand on the partnership to provide effective and affordable treatments for patients with unmet medical needs."