On September 10, 2020 Immunomic Therapeutics, Inc., ("ITI"), a privately-held clinical-stage biotechnology company pioneering the study of nucleic acid immunotherapy platforms, reported that originating in the United States recently opened its first office in South Korea (Press release, Immunomic Therapeutics, SEP 10, 2020, View Source [SID1234564944]). This continues to build on ITI’s overall strategy to be the partner-of-choice for innovative biotechnology companies in emerging centers of excellence worldwide.
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ITI is bringing its strategic business model to South Korea – designed to bring together the world’s leading experts and cutting-edge science to advance research in the Glioblastoma (GBM) field and to deploy ITI-1000 to the Asian population. ITI-1000 is a cell therapy powered by ITI’s UNITE platform that is currently being evaluated in a Phase II clinical trial (ATTAC-II) in collaboration with researchers at the University of Florida and Duke University. ITI-1001 is an alternative, cell-free approach to treating GBM. The company held a pre-IND meeting earlier this year for ITI-1001 and expects to be able to file an Investigational New Drug Application (IND) with the U.S. Food and Drug Administration (FDA).
The recent $61.3M financing led by HLB Co., LTD, a global pharmaceutical company focused on developing novel cancer drugs enables ITI to expand and form partnerships with local companies and research institutions to accelerate the development and commercialization of Korean pharmaceutical discoveries for the global markets.
"South Korea is an emerging center of biopharma research innovation, and we are excited to open ITI’s new office in a location where talented Korean researchers are doing groundbreaking work," said William G. Hearl, CEO, Immunomic Therapeutics. "We look forward to collaborating with HLB Bio Group to raise Korea’s profile as a global center of biopharma innovation and make exceptional therapies available for patients."
The new ITI office in South Korea is located in Teheran-ro, Gangnam-gu, Seoul, an area well established as a high-tech business zone in the city. Many Korean biopharma and biotech companies have headquarters in this area of Seoul.
In addition to its newly opened South Korean office, ITI headquarters is located in the U.S.