Co-development deal for Dong-A, Genexine

South Korea's leading drugmaker, Dong-A Pharmaceutical, and Genexine, a development-stage biotechnology firm, have entered into an collaboration agreement by signing a product co-development contract. The deal encompasses co-commercialization of first generation protein drugs under development by Dong-A and the co-development of second generation agents utilizing Genexine's propriotery hybrid Fc-fusion technology.

To prepare for the intensive competition after the ratification of the Korea/USA Free Trade Agreement, Dong-A has made efforts to reinforce its development pipeline. Genexine is hoping to launch products as soon as possible after its planned initial public offering. The is seen as a strategic alliances which can be beneficial for both.

Through the contract, both companies will aim to commercialize Dong-A's gonadopin, which was rolled out in the domestic market last year, overseas. Gonadopin is a recombinant human follicle-stimulating hormone (rFSH) used for infertility treatment. Furthermore, the two firms have agreed to collaborate on co-development and co-commercialization of rFSH and recombinant IFN-B (interfron beta), a drug for multiple sclerosis, which comply with the guidelines of the European Medicines Agency (EMEA) and the US Food and Drug Administration. As of 2006, the global markets for rFSH and rIFN-B are estimated at $10.4 billion and $44.0 billion, respectively, according to Genexine.