Prestige BioPharma IDC Successfully Attracts Investment for Co-Development Partner

Prestige BioPharma IDC announced on the 13th that it has expanded its co-development collaboration on the back of the technological capabilities accumulated throughout its antibody drug development process, achieving a milestone in which its antibody drug development expertise has been objectively validated by the market.

During GeoVista's investment attraction process, the canine atopic dermatitis treatment candidate "GV-V213," which the two companies are jointly developing, was recognized as a key investment value. GV-V213 is an antibody-based therapeutic targeting IL-13, and is a pipeline expected to offer differentiated efficacy and safety compared to existing chemical-based treatments.

Since signing a co-development agreement with GeoVista last year, IDC has played a central role in the early development stages of GV-V213. In particular, IDC supported an integrated R&D infrastructure spanning antibody discovery, cell line development, and the establishment of a Research Cell Bank (RCB), thereby enhancing the pipeline's completeness and development efficiency.

This achievement is considered significant in that the technological assets IDC has accumulated over many years of developing antibody therapeutics for human use have been applied to an external pipeline, driving tangible value appreciation. The company explained that by supporting its partner's smooth fundraising, it has demonstrated that IDC's cell line development and process technologies possess globally competitive commercial capabilities.

Industry observers note that as the development maturity of GV-V213 continues to improve, IDC's contributions are expected to play a positive role in generating further outcomes, including potential global technology transfers in the future. The co-development with GeoVista is currently proceeding stably as originally planned.

CEO Sang Seok Koh of Prestige BioPharma IDC stated: "This successful investment attraction by our partner is a verified case proving that IDC's antibody drug platform technology can genuinely elevate the value of external pipelines. Going forward, we will accelerate the development of our own innovative drug pipelines while actively expanding open innovation with a diverse range of partners possessing promising technologies, thereby creating R&D synergies."

Source: Consumer Times (https://www.cstimes.com/news/articleView.html?idxno=705416&sicode=01)