DAEJEON, South Korea & EAST WINDSOR, N.J.--(BUSINESS WIRE)--Alteogen Inc. (196170.KQ) and Lynkogen Inc. today announced that they have expanded the scope of their exclusive option agreement. In addition to the originally announced GLP-1 mimetic fusion proteins, Lynkogen will also acquire exclusive rights to FGF21 fusions, including dual function FGF21/GLP-1 mimetic fusion protein. Lynkogen and Alteogen will also continue to partner in exploring the feasibility of other novel dual function agents utilizing Alteogen’s proprietary NexP™ Fusion Technology platform. Lynkogen will seek to raise a Series A round to fund the development of these assets.
“Effective management of NASH patients will require simultaneously targeting multiple pathways; the NexP™ platform offers a potentially differentiated way to achieve sustained therapeutic concentrations of multiple short acting peptides, with the possibility for once a week or less frequent dosing,” said Arun Swaminathan, Ph.D., CEO of Lynkogen.
NASH is poised to be the leading cause of liver transplants by 2020 and the market is projected to reach over US$ 20 Billion by 2025. Despite a significant unmet need, there are currently no approved therapeutics available for patients with NASH.
“We are pleased to expand the scope of our agreement with Lynkogen. Our NexP™ platform offers a unique way to generate clinically viable fusion proteins that retain the function of multiple therapeutic peptides which aligns well with Lynkogen’s approach to management of NASH,” said Dr. SJ Park, Ph.D., CEO of Alteogen.
“Dual function fusion proteins that retain both FGF21 and GLP-1 agonist activity are an exciting option to address the unmet need in NASH and we are looking forward to advancing this and other candidates in our pipeline,” said Narayanan Hariharan, M.Sc., Ph.D., CSO of Lynkogen.
About Alteogen Inc.
Alteogen lnc. is a Korea-based biopharmaceutical company that focuses on the development and commercialization of novel biologics such as Antibody-dug conjugates, biobetters and biosimilars. Alteogen’s portfolio includes clinical-stage long-acting therapeutic proteins and next-generation ADC, developed by its proprietary NexP™-fusion and NexMab™ platform technology, respectively. It also develops Herceptin and Eylea biosimilars. The company was founded in 2008 and listed in KOSDAQ (196170.KQ).
About Lynkogen Inc.
Lynkogen is a pre-clinical stage biotech company with a vision to develop novel therapies to address the unmet need in NASH, diabetes, obesity and related disorders. Lynkogen’s approach is built on developing drugs that can simultaneously address multiple facets of complex metabolic diseases thus bringing potentially differentiated options to patients. Lynkogen was founded in 2016.