Interpark Bio Convergence Corp., a subsidiary of Interpark, has unveiled plans to accelerate its anticancer drug development efforts through strategic personnel recruitment and the relocation of its headquarters.

According to the announcement, Interpark Bio Convergence has been continuously recruiting master’s and doctoral-level professionals, including Kwangwoo Cheon PhD, who joined the company in March under the leadership of CEO Koo Lee PhD, and Gi Won Seo, a certified public accountant and bio-venture industry expert who joined as the CFO in June.

In addition to bolstering its workforce, Interpark Bio Convergence has relocated its research facility from the International Vaccine Research Institute in Gwanak-gu, Seoul, to the spacious PNS Holmes Tower in Munjeong-dong, Songpa-gu. The new research institute, spanning an area of 1700m², includes a medicinal chemistry laboratory dedicated to new drug discovery, complementing its existing biology experimental facilities.

Interpark Bio Convergence adopts a strategic approach, acquiring core technologies through in-licensing or research collaboration. One of its key drug pipelines is the solid tumor immunotherapy agent “IBC-1131,” which was obtained through in-licensing from BiSiChem, with the goal of applying for clinical trials early next year. The company also plans to discover various targeted anticancer drug pipelines through its own research; within the year, it aims to discover a small-molecule drug candidate that targets lung cancer.

CEO Koo Lee PhD stated, “With the goal of listing by 2025, we plan to secure at least three or more clinical Phase 1 and Phase 2 pipelines in the near future and promote out-licensing to global pharmaceutical companies.” He added, “To achieve this, we plan to expand our workforce from the current 27 employees, mainly consisting of specialized researchers, to over 50.”

Meanwhile, Interpark and iMarket Korea, the holding companies of Interpark Bio Convergence, have approved a 10 billion won capital increase through a rights issue for the subsidiary in early September. This initiative involves issuing 2 million common shares at 5,000 won per share, with the raised capital intended for various purposes, including anticancer drug development, funding clinical trials, establishing new pipelines, and ensuring financial stability.

Source: BioSpectator (http://www.biospectator.com/view/news_view.php?varAtcId=14119)