Hanmi will advance its cancer assets through MEDiC’s MCAT platform in return for upfront payments, along with $5m in funding. Credit: sonnim/ Shutterstock

Leading Korean biopharma, Hanmi Pharmaceutical, has entered into a research collaboration and financing agreement with Silicon Valley startup MEDiC Life Sciences to advance cancer biomarker discovery.

Under the partnership announced on 14 October, MEDiC will employ its functional genomics platform MCAT to identify biomarkers that will support the clinical development of Hamni’s therapeutic assets. In return, MEDiC has received upfront payments including $5m in strategic funding from Hanmi, along with LG, to facilitate further partnerships.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

MCAT is a functional genomics platform based on CRISPR, which simulates gene-drug interactions between cancer therapies and all possible genetic mutations. The technology identifies synthetic lethality signature (SLS) biomarkers, mutations that exhibit lethality in conjunction with a particular drug, which can then inform treatment to maximise response rates among cancer patients.

The platform is the first to demonstrate that 3D models can improve the accuracy and translatability of functional genomics over standard 2D cultures. Young Choi, head of Hanmi’s R&D, said: “We expect to strengthen the value of Hanmi’s new cancer drugs by improving the possibility of success in clinical trials.”

Dr. Kyuho Han, co-founder and CEO of MEDiC, noted the company aims to use the collaborative research to validate the clinical relevance of SLS biomarkers. If successful, the MCAT platform could help companies maximise the efficiency and marketability of cancer assets while negating the high failure rates and rising costs associated with the development of these drugs.

The strategic investment precedes anticipated Series A financing later this year and follows $8m in seed capital previously raised by MEDiC. The company has said it intends to direct funds toward future collaboration, having already partnered with Bristol Myers Squibb and other undisclosed US firms.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The recent collaboration and investment follows similar agreements made by Hanmi Pharmaceutical, such as a $10m loan to Aptose Biosciences to develop acute myeloid leukaemia treatment tuspetinib. Its parent company, Hanmi Sciences, has also invested heavily in areas outside oncology, being one the leading patent filers for GLP-1 analogues for metabolic disorders. The moves come as Hanmi shore up its position following general setbacks for the Korean biopharma sector. Hanmi Pharmaceutical’s market cap currently stands at ₩4tn ($3bn).