PR Newswire
YONGIN, South Korea, Oct. 28, 2024
In the news release, GC Biopharma and Novelty Nobility Enter into Joint Research and Development Agreement for Geographic Atrophy Therapies, issued 28-Oct-2024 by GC Biopharma over PR Newswire, we are advised by the company that the name in the 6th paragraph, 1st sentence, should read "Jae Uk Jeong" rather than "Jaewook Jung" as originally issued inadvertently. The complete, corrected release follows:
GC Biopharma and Novelty Nobility Enter into Joint Research and Development Agreement for Geographic Atrophy Therapies
YONGIN, South Korea, Oct. 28, 2024 /PRNewswire/ -- GC Biopharma announced that it has signed an agreement with Novelty Nobility, a biotech company specializing in the development of antibody-based therapeutics, for the joint research and development of a novel treatment for geographic atrophy (GA).
Age-related macular degeneration (AMD), one of the leading causes of blindness in the elderly, is divided into two types: dry and wet. Often occurring in the late stages of AMD progression, GA is an advanced form of dry AMD that causes damage to retinal tissue, eventually leading to blindness. In the US alone, approximately 1.5 million people are affected by this condition.
Last year, the first treatment for GA was approved by the FDA in the US. However, the drug demonstrated limited efficacy by slowing the progression of GA without restoring previously deteriorated vision. Furthermore, a significant number of patients reported side effects such as the development of wet AMD or inflammation following drug administration. Thus, a significant unmet need for therapeutic approaches with improved efficacy and safety remains for GA patients.
Under the terms of the agreement, GC Biopharma and Novelty Nobility established a partnership to jointly research and develop antibody-based protein therapeutics for GA throughout all stages of the drug development lifecycle. As the first step of the collaboration, the two companies plan to strategically select novel proteins determined to play critical pathological roles in GA and identify therapeutic candidates accordingly.
"Novelty Nobility has been developing a next-generation treatment for wet AMD using a proprietary antibody for the past several years," said Sang-gyu Park, Chief Executive Officer of Novelty Nobility. "We aim to leverage our in-house antibody drug development expertise in retinal disease to further expand into the GA treatment space. This collaboration with GC Biopharma will enable us to advance our research and potentially result in an innovative treatment that can be transformative for patients with GA."
"We expect that this collaboration will generate synergy by combining Novelty Nobility's experience in developing antibody-based treatments for retinal diseases with our expertise in protein therapeutics," said Jae Uk Jeong, Head of Research and Development at GC Biopharma. "Through open innovation, we aim to actively expand our development efforts beyond our core areas of plasma derivatives and rare diseases to other therapeutic fields as well."
About GC Biopharma Corp.
GC Biopharma Corp. (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Biopharma Corp. is one of the leading plasma protein and vaccine product manufacturers globally and has been dedicated to quality healthcare solutions for more than half a century.
About Novelty Nobility Inc.
Novelty Nobility is a clinical stage biotech company with a mission to improve the lives of patients with underserved medical needs through the development of novel antibody-based therapeutics. Novelty Nobility has built an unique fit-for-purpose antibody discovery engine (PREXISE-D) and develops bispecific antibodies and antibody-drug conjugates (ADCs). The company primarily focuses on oncology but also other areas such as ophthalmology and immunology where its scientific novelty can make a meaningful impact on patients' lives.
This press release may contain biopharmaceuticals in forward-looking statements, which express the current beliefs and expectations of GC Biopharma's management. Such statements do not represent any guarantee by GC Biopharma or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Biopharma undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.
GC Biopharma Corp. Contacts (Media)
Sohee Kim
[email protected]
Yelin Jun
[email protected]
Rachel Kim
[email protected]
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SOURCE GC Biopharma
