LegoChem, a South Korean biopharma, is making remarkable strides in the biotech market. With a fresh infusion of $411M from a confectionery company, the company has intensified its research and production efforts in Antibody-Drug Conjugate (ADC) development. It has signed a significant $1.7bn licensing deal with Janssen - Johnson & Johnson's pharmaceuticals subsidiary, augmenting its position in the market. Moreover, LegoChem sealed additional strategic partnerships with Samsung Biologics and Amgen, thereby streamlining the production of ADC.
The investor landscape for LegoChem has likewise received a sizeable shift with Pan Orion's $415M investment securing them a majority stake. This investment is seen by many as a robust business strategy to tap into the booming biotech sector. On a noteworthy front, despite LegoChem being currently unprofitable, data reveals it has delivered a 92% return to shareholders over five years.
LegoChem is further expanding its ADC portfolio with cross-industry collaborations, having partnered with Glycotope and sealed a massive $1.7 billion licensing deal with Janssen. Amid explorative pursuits, LegoChem is considering a name change following its scuffle with Danish toy maker Lego, hinting at possible rebranding efforts across the biotech firms.
Lastly, in line with its sustained innovative spree, LegoChem received FDA approval for conducting Phase 1 and 2 trials for its ADC drug, LCB84, reinforcing its commitment to ushering new treatments into the oncology space.
Legochem News Analytics from Mon, 13 Feb 2017 08:00:00 GMT to Wed, 17 Apr 2024 07:00:00 GMT - Rating 8 - Innovation 7 - Information 8 - Rumor -4
