À̹ÌÁö È®´ë Celltrion Inc. together with Mirae Asset financial group is investing $47 million in Iksuda Therapeutics to become the largest shareholder of the U.K.-based antibody-drug conjugates (ADC) developer.
The Korean biotech major already has executed half of the investment. The remaining investment will be made immediately after pre-agreed development milestones are reached, according to Celltrion on Monday.
Celltrion will become the largest shareholder of Iksuda Therapeutics after the final investment. Mirae Asset Group¡¯s asset management units are also taking part of the deal as investors.
Iksuda Therapeutics specializes in developing ADCs, a class of biopharmaceutical drugs designed as a targeted therapy for treating cancer. Its ADC pipeline includes those for B-cell lymphomas, lung cancer and gynecological tumors.
Celltrion plans to leverage Iksuda Therapeutics¡¯s ADC technology on further expanding its cancer treatment offerings beyond blood cancer drug Truxima and breast cancer drug Herzuma.
On Monday, Celltrion shares closed 0.56 percent lower at 265,500 won ($238.57).
By Pulse
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