SK Biopharmaceuticals Receives Korea Drug Development Fund Investment Grant to Develop Novel Oncology Candidate, SKL27969
State-run financing to provide two-year support of Phase 1 research for oncology candidate, SKL27969, for the potential treatment of advanced solid tumors
SK Biopharmaceuticals to present preclinical data on oncology candidate, SKL27969, at Society for Neuro-Oncology Conference
PANGYO, South Korea, Nov. 13, 2022 /PRNewswire/ — SK Biopharmaceuticals, a global innovative pharmaceutical company, announced that the state-run Korea Drug Development Fund (KDDF) has decided to support and finance the company’s development of SKL27969, which is being evaluated as potential treatment for patients with advanced solid tumors, widening SK Biopharmaceuticals’ area into oncology.
The KDDF is a government fund that aims to support R&D for new drug development as part of efforts to advance Korea’s pharmaceuticals and biotechnology sectors.
A phase 1/2 clinical trial is being conducted under the US IND for SKL27969, a PRMT5 inhibitor, in adult patients with solid tumors for safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy.
SK Biopharmaceuticals said the KDDF’s two-year investment in the study will help the company and its U.S. subsidiary SK Life Science, Inc. to accelerate their clinical (Phase 1) and nonclinical trials, while expanding its oncology network.
SK Biopharmaceuticals will present its preclinical data of SKL27969 at the annual Society for Neuro-Oncology (SNO) conference in Tampa Bay, Florida, November 16 – 20, 2022.
SKL27969 is a protein arginine methyltransferase 5 (PRMT5) inhibitor candidate that has shown activity in preclinical models of solid tumors, such as glioblastoma (GBM), non-small cell lung cancer (NSCLC), and triple negative breast cancer (TNBC).
About SK Biopharmaceuticals Co., Ltd. and SK Life Science, Inc.
SK Biopharmaceuticals and its U.S. subsidiary SK life science are pharmaceutical companies focused on the global research, development and commercialization of treatments for disorders of the central nervous system (CNS) and oncology. In 2017, SK Biopharmaceuticals established a research center to begin their expansion into oncology through research and development efforts. The companies have a pipeline of nine compounds in development in both CNS and oncology. For more information, visit SK Biopharmaceuticals’ website at www.skbp.com/eng and SK life science’s website at www.SKLifeScienceInc.com.
Both SK Biopharmaceuticals and SK life science are part of SK Group, one of the largest conglomerates in Korea. SK Inc., the parent company of SK Biopharmaceuticals, continues to enhance its portfolio value by executing long-term investments with a number of competitive subsidiaries in various business areas, including pharmaceuticals and life science, energy and chemicals, information and telecommunication, and semiconductors. In addition, SK Inc. is focused on reinforcing its growth foundations through profitable and practical management based on financial stability, while raising its enterprise value by investing in new future growth businesses. For more information, please visit http://hc.sk.co.kr/en/.
H. Park, Head of Communications
Hyunkyung Cho, Deputy Communications Manager
SOURCE SK Biopharmaceuticals Co., Ltd