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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kolon Pharmaceutical will merge with Platbio, which has the capacity to develop new anti-cancer drugs, and start anew.

Kolon Pharmaceutical announced on the 29th that it had a merger ceremony with Platbio. The merger is scheduled to take place on June 1 by exchanging 2.38 shares of Kolon Pharmaceutical Co. per share of Platbio.

Kolon Pharmaceutical has been carrying out projects focused on improved new drugs and generic medicines. Platbio is a company that has developed anti-cancer drugs based on its ability to develop new drugs.

Since its establishment in 2018, Platbio has discovered more than 60 specific targets, including pancreatic cancer and ovarian cancer, and has continued to develop anticancer drugs.

The core technology of Platbio is in the homogenous model. It is a technology that accurately measures the efficacy and toxicity of new drugs by transplanting tumors directly into organs and greatly increases the success rate of new drugs.

It is developing candidate materials with the aim of developing treatments for various types of cancer, including pancreatic cancer, ovarian cancer and myeloid leukemia, and exporting them to the global market by 2025.

The two companies plan to establish a mid- to long-term growth plan after the merger and actively realize it. Starting with the development of major new drug pipelines, the company plans to expand technology transfer and joint research and development (R&D) with global pharmaceutical companies to global markets such as Korea and China. 

 

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