News
2024.07.01
DXVX and GL Pharm Tech announced on the 1st that they have signed a strategic partnership agreement for new drug development and pharmaceutical and biotech business. Through this agreement, the two companies will cooperate in their core competencies to discover new growth drivers for the pharmaceutical and biotech business and create synergies for new healthcare businesses, including pharmaceuticals, in domestic and overseas markets.
The main contents of the agreement include collaboration on new drug research and development using DXVX's AI-based genome analysis platform, cooperation on clinical trials, regulatory approvals, technology, and finished product exports using domestic and overseas networks, collaboration on the sales and marketing of pharmaceuticals and healthcare products in domestic and overseas markets, and joint cooperation on new businesses where synergy between the two companies can be created.
Yong-gu Lee, CEO of DXVX, said, "We are very pleased to be collaborating with GL Pharm Tech, which has multiple excellent pharmaceuticals and new drug pipelines such as improved drugs," adding, "Initially, our collaborative projects can start with the cooperation on new drug development using our AI-based genomic big data platform and the pharmaceutical cooperation using DXVX's nationwide hospital network established in Korea and China."
Lee also said, "Our healthcare and pharmaceutical business, which has established itself as a cash cow business model, is expected to achieve approximately 70 billion KRW in performance this year. The synergy of the newly added pharmaceutical and biotech business through the digital healthcare new business in the third quarter and this collaboration is expected to lay the groundwork for setting next year's operating goal of 140 billion KRW and an operating profit margin of 12%."
The company explained that the strategic partnership between the two companies involves management teams from Hanmi Pharmaceuticals, possessing 'Hanmi DNA.'
Yong-gu Lee, CEO of DXVX, is known for establishing the marketing foundation for Hanmi Pharmaceuticals' cardiovascular disease treatments. He later worked at Beijing Hanmi Pharmaceuticals and Korea Group and currently serves as the co-CEO of DXVX. Kyu-chan Kwon, head of R&D, also served at Hanmi Pharmaceuticals for 14 years, overseeing new drug development and the global business division. Dr. Gyu-hang Lee and Dr. Kyung-ik Lee in the new drug development division and Executive Director O-geun Shin in medical channel sales are also from Hanmi Pharmaceuticals.
GL Pharm Tech's management is also composed of former Hanmi Pharmaceuticals personnel. CEO Seong-pil Jin, head of management, is an expert in the domestic solid dosage GMP field and oversaw quality and production at Hanmi Pharmaceuticals. Co-CEO Yong-il Kim is known as a key expert with over 20 years of experience in researching, developing, and commercializing improved drugs.
Meanwhile, DXVX is a biotech company engaged in the development of anticancer vaccines and antibody new drugs and healthcare business centered in Korea and China, with its own business profit model. Since the current management's participation, the company has achieved record-breaking results, with performance increasing from 7.5 billion KRW to 32.2 billion KRW in 2022 and 46.7 billion KRW in 2023, and further quantum growth is expected this year. The company also stated that from this year, the sales of its microbiome-based proprietary brand healthcare products are increasing in domestic and overseas markets, and it is expected that both performance growth and profitability will improve.