William Malcolm

Sotio Biotech Acquires License To Develop Cancer Drugs

The biotechnology company Sotio Biotech from the PPF group obtained a license from the South Korean company LegoChem Biosciences (LCB) to use the technology to develop five new anticancer drugs. The price for licensing rights can reach up to 1.03 billion US dollars (22.8 billion crowns) and depends on the achievement of certain development stages. According to the contract, LCB is also entitled to royalties from the sale of products in the event of their launch. The amount that Sotio will pay in the near future is about $ 29 million (642.64 million crowns), Sotio representatives said in a press release. 

LCB is focusing on developing its own ADC anti-tumor drugs, also referred to as conjugated antibodies. These are carriers of cytostatics, such as chemotherapy, which have the ability to selectively select a tumor cell, attach to its surface and release a highly effective drug after penetrating it without damaging healthy cells. Sotio obtains the right to use ADC technology from a South Korean partner. She will be responsible for the research, development, production and marketing of licensed ADC products.

According to its director Radek Špíšek, Sotio has been developing innovative ADC products for several years and plans to apply for approval of the first clinical study at the end of this year. “Thanks to the license agreement with LegoChem, we can further expand our portfolio of anti-cancer products with additional programs that focus on different types of tumors,” said Špíšek.