Exclusive Research and Option Agreement With Global Biopharmaceutical Company to Leverage BIORCHESTRA Targeting Technology Platform – BDDSTM – to Develop Nucleic Acid Therapies for Treatment of Neurological Disorders in Multiple Targets
CAMBRIDGE, Mass. and DAEJEON, South Korea | March 27, 2023 – BIORCHESTRA, a biotherapeutics company focused on the treatment of rare and degenerative diseases within the Central Nervous System (CNS) by leveraging the Biorchestra Drug Delivery System (BDDSTM), which combines targeted cell delivery capabilities and proprietary RNA chemistries to develop first-in-class therapeutics, today announced an exclusive research, option, and licensing agreement with a global biopharmaceutical company focused on developing transformative medicines. The companies will collaborate on an initial target with the option to expand the collaboration to include several additional targets.
Commenting on the transaction, Dr. Branden Ryu, Scientific Founder, Chairman, and Chief Executive Officer, said, “We are excited to begin this collaboration with our U.S. partner. Together we will accelerate a development program to deliver transformational new medicines ∞ for patients.”
“Our partner’s approach represents a new category of next-generation medicines that our proprietary platform and targeted cell delivery capabilities are ideally suited for,” said Dr. Louis St. L. O’Dea, President and Chief Medical Officer. “By leveraging Biorchestra’s suite of technologies that enable IV-formulated, biological-barrier crossing therapeutics, the potential to treat a range of diseases is extremely promising,” Dr. O’Dea continued.
“This partnership showcases the inherent value of our transformational science and technology platform within the global pharmaceutical and biotech sector,” said Mr. Young Gil Kim, Chief Financial Officer. “Strategic partnerships are an essential element of our global strategy and what will accelerate market access to our breakthrough innovations,” Mr. Kim concluded.
Destum Partners acted as transaction advisor to the Company.