Ubix Therapeutics, SK Biopharmaceuticals to develop new compounds and medicines through Ubix’s Degraducer® technology for cancer treatment

SK Biopharmaceuticals to have exclusive option rights to the compounds for commercialization, while Ubix Therapeutics to receive upfront, milestone payments upon development

REPUBLIC of KOREA I April 14, 2022 I Ubix Therapeutics announced that it has entered into a research collaboration agreement with SK Biopharmaceuticals to develop new therapeutic compounds and medicines for a potential treatment of cancer.

The two companies will develop anti-cancer treatments by using Ubix’s Degraducer® platform technology, through the application of targeted protein degradation(TPD) and SK Biopharmaceutical’s drug development skills. TPD has been gaining attention as an emerging therapeutic modality that is able to “tackle and eliminate” proteins that cause cancer – an alternative to using conventional small molecules.

Under the terms of the agreement, Ubix Therapeutics and SK Biopharmaceuticals will jointly research and develop anti-cancer drugs, including immunotherapy.

SK Biopharmaceuticals will have exclusive option rights to the compounds after both sides successfully complete their early phase clinical trials. Ubix Therapeutics will be eligible to receive undisclosed upfront and milestone payments based on the progress in the development, as well as share profit with its new partner following commercialization.

“We are excited to forge ties with Ubix Therapeutics that is domestically leading the application of targeted protein degradation. SK Biopharmaceuticals will continue to join forces with new partners to further expand its CNS and oncology portfolio,” said Cheol-Young Maeng, Chief Technology Officer and Vice President of SK Biopharmaceuticals.

We are pleased to collaborate with SK Biopharmaceuticals, which has experience ranging from discovering drug candidates, conducting clinical trials to developing and commercializing global products in the central nervous system area. Through this partnership, we will successfully develop innovative anti-cancer drugs utilizing Ubix’s core platform technologysaid BK Seo, CEO of Ubix Therapeutics.

About Ubix Therapeutics

Ubix Therapeutics, Inc. develops novel drugs based on Degraducer® platform technology. Degraducer® is a powerful next generation inhibitor technology that enables targeting of disease-related targets that were previously undruggable. Ubix Therapeutics is focusing on anti-cancer therapy using its own technology based on thorough understanding of the human immune system and target proteins. For more information, visit Ubix Therapeutics’ website at www.ubixtrx.com.

About SK Biopharmaceuticals

SK Biopharmaceuticals and its U.S. subsidiary SK life science are global pharmaceutical companies focused on the research, development and commercialization of treatments for disorders of the central nervous system (CNS) and oncology. In 2017, SK Biopharmaceuticals established a research center to begin its expansion into oncology. The companies have a pipeline of eight compounds in development in both CNS disorders and oncology. For more information, visit SK Biopharmaceuticals’ website at www.skbp.com/eng and SK life science’s website at www.SKLifeScienceInc.com.

About Degraducer®

Degraducer® is a technology that utilizes the ubiquitin-proteasome system (UPS), an intracellular degradation system. Degraducer® is a bifunctional molecule where a “ligand”, which binds to target protein, and a “binder”, which binds to E3 ubiquitin ligase. In other words, Degraducer® is a powerful inhibitor technology that enables target protein degradation and consequent therapeutic effects by placing a disease-related target protein nearby E3 ligase, which can then initiate the protein degradation system.

SOURCE: Ubix Therapeutics