LG Chem, which has kept low profile while its rivals in Korean household corporate names Samsung and SK have made headlines in bio breakthroughs or expansion, aims to initiate a phase 1 human clinical study of its COVID-19 vaccine candidate within this year after completing its ongoing preclinical tests of the hopeful, according to Son Ji-woong, head of the company’s life science business.

During a recent interview with Maeil Business Newspaper, Son said the investigational vaccine is being developed as a protein subunit vaccine like other COVID-19 shot hopefuls being addressed by SK Bioscience and GC Pharma.

A subunit vaccine is a fragment of a pathogen, typically a surface protein used to trigger an immune response with no viral replication in the body.

While developing its own COVID-19 vaccine internally, LG Chem will push for a CMO deal for commissioned production with other vaccine developers at home and abroad to ensure fast supply around the world, Son said, citing the company’s production expertise and capacity proven with various vaccines and popular diabetes drug Zemiglo.

In addition, LG Chem will remain active in open innovation to bring in candidate molecules from outside for internal development, while focusing its mainstay therapeutic areas on oncology and metabolic disease.

The company has so far secured 40 hopefuls in the pipeline, eight of which have been introduced from outside since Nov. 2018.

One of the candidates closest to market is a head and neck cancer med in-licensed from U.S. biotech startup Q Biopharma. The compound, which is under phase 1 trial in the U.S., will be a first-in-class drug whose mechanism of action is lesion-specific immunity activation to fight cancer, Son said

After the merger with LG Life Sciences, LG Chem raised its R&D spending from 15 percent to 25 percent against sales over the past three years. LG Chem’s sales target for life science business is 660 billion won ($556 million) this year.

By Kim Bung-ho and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]