The decision to change its name to “Therapex” was announced by Interpark Bio Convergence following a spin-off in the organoid research division during an extraordinary general meeting of shareholders on April 4th. This renaming follows the divestiture and subsequent name change of the e-commerce division of its parent company, Interpark. The new name, Therapex, carries the meaning of “the pinnacle of bio related to therapy.”

Under its new identity, Therapex will shift its focus to first-in-class drug development, and plans to expedite the ongoing development of anticancer agents. The organoid research division, now a newly established subsidiary named 'Gradient Bioconvergence,' will delve into research activities such as disease modeling, co-culture, big data analysis, and the development of growth factors and scaffolds.

The rebranded Therapex is also actively recruiting talent following the spin-off and name change. Among its recent acquisitions are Jiyeon Park, a pharmacist with experience at Boehringer Ingelheim Korea and SK Biopharmaceuticals, who will oversee clinical development. Woosik Kim PhD, formerly of ChungKunDang and Boryung Pharmaceutical, will lead preclinical development and translational research. Jae Hong Lim PhD, from LG Life Sciences, has been appointed to handle business development (BD) activities, focusing on licensing out new drug candidates.

Therapex CEO Koo Lee PhD stated, "Through the spin-off of the organoid business division, both companies can now focus on specialized research activities," and added, "Therapex will strive for efficient research and development of its seven anticancer drug pipelines, including the immunotherapy agent IBC-1131 in the late preclinical stage, the targeted anticancer agent TRX-221 in the new drug candidate discovery stage, and the targeted protein degrader obtained through a recent research collaboration agreement with Elgen Therapeutics."

Source: BioSpectator (http://www.biospectator.com/view/news_view.php?varAtcId=15970)