Announcement Highlights:
- Hanlim to undertake and fund evaluation Proof-of-Concept in vivo studies on the efficacy of INV043 on glioblastoma multiforme (GBM), a deadly brain cancer.
- Studies will be spearheaded by professor Sin-Soo Jeun, Chairman & Director, Dept. of Neurosurgery at Seoul St. Mary's Hospital, which is one of the "Big 5" hospitals in the country.
- Hanlim is one of the largest pharma groups in South Korea with 2023 revenues of ~US$240M and ~900 employees.
- The collaboration will evaluate the use of INV043 for both diagnostic and therapeutic potential in brain cancers.
- Invion retains all rights to the Photosoft™ technology, including INV043, and to any new intellectual property (IP) resulting from the collaboration.
- The global market for GBM treatments is estimated to hit ~US$5.1 B by 2030
(9.7% CAGR)^2.
Invion Limited's Executive Chair and Chief Executive Officer Thian Chew commented:
"We are thrilled to be working with Hanlim and St. Mary's Hospital to explore INV043's theragnostic applications in glioblastoma. This collaboration could provide an alternative treatment for GBM and possibly reduce some of the risks associated with current treatments. INV043 has proven itself to be very versatile in the variety of cancers we have treated in vitro and in vivo. Collaborations with leading companies, such as Hanlim, further demonstrates the potential of Photosoft."
View the full announcement here.
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