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Committed to advancing green energy solutions Capitalizing on growing opportunities in the hydrogen technology sector HONG KONG, March 21, 2025 /PRNewswire/ -- China International Development Corporation Limited ("CIDC" or the "Company", together with its subsidiaries, the "Group"; Stock Code: 0264) is pleased to announce the successful establishment of its joint venture company, Flex Fuel Eco Company Limited ("JV Company"), formed in collaboration with Flex Fuel Hydrogen Development Group Limited ("Strategic Partner"), has been officially incorporated. Through a strategic reorganization, the JV Company now serves as the holding entity for FlexFuel Hydrogen Development (Shenzhen) Company Limited ("FFHD"), which has entered into a landmark Strategic Collaboration Agreement with MCC Tiangong Group Corporation Limited ("MCC Tiangong"). The JV Company has rapidly scaled operations, importing and installing *over 60 hydrogen decarbonizing and cleaning stations* across more than 20 strategic locations in the PRC. This strategic initiative underscores the Group's commitment to advancing green energy solutions and capitalizing on growing opportunities in the hydrogen technology sector. MCC Tiangong, a leading construction enterprise jointly owned by China Minmetals Corporation ("CMC") and Metallurgical Corporation of China Limited ("MCC"), is affiliated with CMC—a state-owned enterprise directly under the Chinese Central Government. This partnership leverages MCC Tiangong's extensive industry network and CIDC's innovative hydrogen technologies. Hydrogen Cleaning Systems: Technology and Market Penetration Under the Strategic Collaboration Agreement, FFHD will deploy its proprietary hydrogen injection cleaning systems (branded as Flex Fuel) for engines across automobiles, vessels, aircraft, and heavy machinery. To date, FFHD has secured multiple service agreements with major PRC conglomerates, including Jilin Dacheng Fangxin Automobile Service Co., Ltd., operator of the renowned "Dacheng Truck Repair" network—one of China's largest automotive repair and maintenance chains. Operational Expansion and Revenue Outlook Since its inception, the JV Company has rapidly scaled operations, importing and installing *over 60 hydrogen decarbonizing and cleaning stations* across more than 20 strategic locations in the PRC, including Beijing, Wuhan, Xinjiang, the Northwest region, Guangdong province, and Macau. Service agreements are typically structured for an initial term of two years, extendable upon mutual agreement. The Group has already commenced revenue generation from these initiatives, with expectations for a sustained and growing income stream. Future Prospects and Shareholder Value CIDC commented: "Our collaboration with MCC Tiangong marks a transformative step in positioning CIDC at the forefront of hydrogen innovation. By integrating FFHD's cutting-edge technology with MCC Tiangong's unparalleled market reach, we are poised to capture significant opportunities in China's green energy transition. The Board remains dedicated to exploring new ventures that enhance long-term shareholder value." About Flex Fuel Hydrogen Development (Shenzhen) Co., Ltd Flex Fuel Hydrogen Development (Shenzhen) Co., Ltd. is an Asia-Pacific subsidiary of French Flex Fuel Hydrogen Development Co., Ltd. (Base in France founded in 2008, one of the French technology 120 index companies). It has the exclusive sales and production authorisation in the Asia-Pacific region. The engine hydrogen maintenance equipment has been officially certified by the French Railways Agency, the Oceanic Agency, the Ministry of Environmental Protection and other official safety certifications. At present, the group is engaged in hydrogen research and development and production equipment, providing a full range of energy solutions, applying its equipment and the hydrogen produced according to customer needs, so as to reduce costs, meet the world trend, apply renewable energy, directly reduce emissions and save energy, and meet the requirements of commercial ESG.
OSLO, Norway, March 12, 2025 /PRNewswire/ -- Nel ASA (Nel, OSE:NEL) has signed an EPC collaboration agreement that allows SAMSUNG E&A to offer its customers complete hydrogen plants of its own design using Nel's electrolysers. In a separate transaction, SAMSUNG E&A will purchase 10% of newly issued Nel ASA shares through a direct placement, implying a post transaction ownership of 9.1%. As a result of this transaction, SAMSUNG E&A will become the largest single shareholder in Nel. Nel is a global leader within both alkaline and PEM electrolyser technology, working with clients both directly and through EPC partners. With the SAMSUNG E&A EPC collaboration agreement, Nel continues to widen its global delivery capabilities and strengthen its overall competitiveness. "Our strategy is to focus on electrolyser stack and balance of stack technology. Therefore, we need to work with EPC companies who can provide balance-of-plant solutions and increase our global market reach. It is an honor that a highly reputable and solid company like SAMSUNG E&A has decided to partner with Nel because of our technology and manufacturing leadership" says Håkon Volldal, President and CEO of Nel ASA. SAMSUNG E&A, formerly Samsung Engineering, is a Korean total solutions provider, that offers comprehensive solutions for the global energy industry. The company provides a full range of engineering services including feasibility studies, design, procurement, construction, and commissioning across multiple industries with a special focus on smart manufacturing, energy systems, and infrastructure. The company is already involved in several large-scale hydrogen projects globally. "SAMSUNG E&A will provide integrated electrolyser solutions with competitive value and bankability to green hydrogen project owners with Nel. Green hydrogen is a core technology in clean tech with carbon-neutral technologies and has a high value not only as itself but also as a basic ingredient for green ammonia, green methanol, SAF, and e-fuel," says Hong Namkoong, CEO of SAMSUNG E&A. "Nel is a market-leading electrolyser company and the only company that has competitive technology in both Alkaline and Proton Exchange Membrane electrolyser with a 100-year history. We are very glad to announce our partnership with Nel", Namkoong says. The collaboration agreement will enable SAMSUNG E&A to develop and offer its customers complete design packages for hydrogen plants based on Nel's Alkaline and PEM electrolysers. In addition, the two companies will work on a larger consolidated Balance of Stack (BoS) system for Nel's Alkaline electrolysers. In a separate transaction, Nel ASA will issue 167,132,530 shares to SAMSUNG E&A for NOK 2.1125 per share, representing the arithmetic average of the last seven-day volume weighted average prices as of March 10th 2025, for a total, all cash, consideration of about NOK 353 million. The transaction is subject to approval by the Board of Directors pursuant to an authorization to increase the share capital granted by Nel ASA's annual general meeting held on 23 April 2024. Post transaction, SAMSUNG E&A will have a 9.1% shareholding in Nel ASA. SAMSUNG E&A has agreed to a two-year lock-up and standstill arrangement subject to customary exceptions. The Nel ASA Board of Directors is supportive of SAMSUNG E&A nominating a member to Nel's Board of Directors for the upcoming 2025 Annual General Meeting. Morgan Stanley & Co. International plc acted as financial advisor to Nel ASA in connection with the private placement. "We appreciate the commitment SAMSUNG E&A demonstrates to the future success of our partnership by becoming a cornerstone investor in Nel," Volldal says. "SAMSUNG E&A is currently securing hydrogen and carbon-neutral technologies through strategic investments and partnerships to commercialize new technologies and build a technology licensing model. The company is now also exploring new market opportunities based on business development with flagship projects where we work to expand the business model from primarily EPC to more technology-based," Hong Namkoong says. For additional information, please contact:Kjell Christian Bjørnsen, CFO, +47 917 02 097Wilhelm Flinder, Head of IR, Communications & Marketing, +47 936 11 350 About Nel ASA | www.nelhydrogen.comNel has a history tracing back to 1927 and is today a leading pure play hydrogen electrolyser technology company with a global presence. The company specializes in Alkaline and PEM technology for production of renewable hydrogen. Nel's product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia. This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time provided. This information was brought to you by Cision http://news.cision.com https://news.cision.com/nel-asa/r/nel-asa--signs-collaboration-agreement-and-conducts-private-placement-with-samsung-e-a,c4117197 The following files are available for download: https://mb.cision.com/Main/115/4117197/3315097.pdf Release
Publicis Sapient will leverage AWS's advanced generative AI services to help enterprises accelerate their digital business transformation journeys and more easily build personalized campaigns and experiences to reduce churn and enhance customer loyalty NEW YORK, March 11, 2025 /PRNewswire/ -- Publicis Sapient, a digital business transformation company, today announced a five-year global strategic collaboration agreement (SCA) with Amazon Web Services (AWS) where they will use AWS's artificial intelligence (AI) and machine learning (ML) technologies to accelerate how enterprises modernize and migrate their IT workloads and build personalized customer experiences that deliver business impact at scale. Through this collaboration, the two companies will build solutions that combine Publicis Sapient's deep delivery capability across its Strategy, Product, Experience, Engineering and Data and AI (SPEED) methodology – Publicis Sapient's approach to digital business transformation success – and AWS's advanced cloud services to help customers across industries accelerate migration of legacy workloads to the cloud. Publicis Sapient will create new use cases that help enterprises leverage their data with generative AI tools to create and scale personalized digital assets that support end-customer conversion, acquisition, and retention. Additionally, the effort will help enterprises optimize and automate the software development lifecycle (SDLC) to support more efficient software development and faster speed to market. Joint customers will also benefit from access to Publicis Sapient's comprehensive ecosystem of tools, including Bodhi, an enterprise-ready AI/ML platform built on AWS, which helps customers deploy and scale generative AI use cases. Bodhi leverages Amazon SageMaker and Amazon Bedrock to offer customers vast model selection and enterprise-grade capabilities, as well as safeguards, data protections, and responsible AI principles to give customers confidence, flexibility, and control when building and deploying production-ready use cases. Additionally, customers can leverage Publicis Sapient's Slingshot, an AI-powered platform built off Bodhi that helps accelerate legacy modernization and the SDLC. "Publicis Sapient has been a proud partner of AWS for many years, and we're excited to deepen our commitment by combining the world's most broadly adopted cloud with our extensive experience in driving digital business transformation. Our collaboration puts the power of AWS's advanced generative AI services at the fingertips of our shared C-suite customers globally, from CEOs to CIOs and CMOs, to deliver transformative value with AWS security, reliability, and scalability. Together, we will create solutions that transform how businesses operate IT and deliver innovative products, services, and experiences," said Nigel Vaz, CEO of Publicis Sapient. "In today's business landscape, personalization at scale is key. Our collaboration with Publicis Sapient merges AWS's advanced AI services and industry-leading security with their digital transformation prowess. Together, we're accelerating cloud adoption and deploying production-ready AI solutions. By combining our enterprise-grade capabilities with Publicis Sapient's SPEED methodology, we're helping businesses across industries harness data to forge deeper customer connections and drive significant business outcomes," said Matt Garman, CEO of AWS. Publicis Sapient Creates AWS Business UnitAs part of the collaboration, Publicis Sapient launched an AWS business unit, investing in teams and capabilities in business development, sales, marketing, and operations, as well as business analysts, and data and AI scientists. The two companies will also invest in developing scalable, up-to-date capabilities, including: Transformational journeys for customers: Publicis Sapient and AWS will combine resources and expertise to help customers accelerate their cloud adoption and migration, including through new solutions available in AWS Marketplace. A roadmap of future technologies: Publicis Sapient and AWS will build and bring to market new generative AI solutions to meet industry-specific use cases for digital business transformation, AI for marketing, and more. Talent growth and development: Publicis Sapient is also investing in additional training and certifications to upskill its workforce to become experts in AWS technology, including its leading AI and ML services. This collaboration builds on the work that the two companies have already been engaged in to help enterprises across industries realize greater business impact for their end-customers. For example: Publicis Sapient engaged with one of the world's largest automakers to build a digital showroom that consolidates its online car shopping data from 190 markets and 105 countries into a single platform that turns data into actionable insights. Built on AWS using Publicis Sapient's SPEED capabilities and leveraging AWS's AI and ML services, the digital showroom analyzes online car shopping data to help the automaker prioritize offers and incentives to customers with the highest likely return on investment. The platform helped the automaker increase test drives by over 900% and improved conversion rates. One of the leading global pharmaceutical companies utilized Publicis Sapient's AskBodhi running on AWS to deploy a scalable generative AI solution for personalized marketing content generation. The solution automated the creation of localized marketing collateral, including images for banner ads and translations, and dramatically reduced time to market. The company estimates the solution reduced project content creation costs by 35%-45%. A leading wealth management firm worked with Publicis Sapient to build a contextual search experience within its existing platform that ingests real-time financial data from a variety of sources and improves the user experience for its advisors to provide guidance to their clients. Initially built on-premises, Publicis Sapient migrated the solution to AWS to allow the firm to scale the platform and enroll more than 20,000 advisors and meet security requirements. The new experience reduced search response time by 80%, and more than 90% of advisors rated the contextual search as their favorite feature. "The AWS and Publicis Sapient collaboration showcases the power of generative AI in driving IT modernization and delivering personalized customer experiences at scale. As Saudi Arabia's national carrier, Saudia is dedicated to harnessing its data to create exceptional guest experiences, while ensuring the highest standards of security. The combination of AWS's cutting-edge generative AI services, featuring robust data safeguards, and Publicis Sapient's expertise, empowers us to innovate rapidly and contribute meaningfully to Saudi Arabia's ambitious tourism objectives, a cornerstone of Vision 2030," stated Abdulgader Attiah, Chief Data and Technology Officer of Saudia Group. "Publicis Sapient, who was a Leader in the IDC MarketScape: Worldwide Cloud Professional Services 2024 Vendor Assessment, is positioned as a forward-thinking partner of AWS, offering industry-specific expertise and solutions for complex IT challenges, such as mainframe modernization. And its capabilities are further enhanced by offerings available in AWS Marketplace. It's great to see Publicis Sapient and AWS collaborating to drive greater value to enterprises' digital business transformation initiatives powered by AI," said Gard Little, Research VP with IDC's Global Services Markets and Trends research team. Customers can access AskBodhi, Wealth Management Accelerator (WMX), and AI-powered Application and Mainframe Modernization – Slingshot by PS in AWS Marketplace, a digital catalog – with thousands of software listings from independent software vendors – that makes it easy to find, test, buy, and deploy software that runs on AWS. To learn more about how Publicis Sapient and AWS work together, visit publicissapient.com/partnerships/aws. About Publicis SapientPublicis Sapient is a digital business transformation company. We partner with global organizations to help them create and sustain competitive advantage in a world that is increasingly digital. We operate through our expert SPEED capabilities: Strategy, Product, Experience, Engineering, and Data and AI, which combined with our culture of curiosity and deep industry knowledge, enables us to deliver meaningful impact to our clients' businesses through reimagining the products and experiences their customers truly value. Our agile, data-driven approach equips our clients' businesses for change, making digital the core of how they think and what they do. Publicis Sapient is the digital business transformation hub of Publicis Groupe with 20,000 people and over 50 offices worldwide. For more information, visit publicissapient.com. Media Relations ContactPublicis Sapient – Mia Carbonell, mia.carbonell@publicissapient.com
Telefónica Tech to integrate IBM quantum safe technology into its cybersecurity services to create specific use cases aimed at addressing new and future risks associated with the advancement of cryptographically relevant quantum computers. The agreement includes deployment of IBM's quantum-safe technology infrastructure at Telefónica Tech's headquarters in Madrid (Spain) to promote business development aimed at cyber resiliency and agility against vulnerabilities arising from the development of future cryptographically relevant quantum computers. MADRID, Jan. 30, 2025 /PRNewswire/ -- Telefónica Tech, the digital business unit of the Spanish telecommunications group Telefónica, and IBM (NYSE: IBM), a pioneer in quantum-safe cryptography, today announced a collaboration agreement to develop and deliver security solutions that address security challenges posed by future cryptographically relevant quantum computers. Raquel Ruiz Lozano (left), Global Head of Strategic Partnerships for Telefónica Tech; and Adolfo Hernández Pulido, Tecnology Managing Director for Telefónica at IBM, at Telefonica’s headquarters in Madrid (Spain). The advent of quantum computing will allow for more advanced calculations, but it also brings with it a critical challenge: ensuring data security in a future where traditional encryption algorithms could become vulnerable. Additionally, while a cryptographically relevant quantum computer is not yet available, data may already be vulnerable to harvesting by cybercriminals for future decryption. IBM has developed quantum safe-focused enterprise software and research-driven assets for a holistic solution to anticipated quantum risks. IBM Guardium Quantum Safe, part of the broader IBM Guardium Data Security Center, helps organizations gain visibility and manage cryptography to address vulnerabilities, guide prioritization and remediation, and improve security posture. It also includes IBM Guardium Key Lifecycle Manager, which provides centralized, secured, and scalable encryption key management. Complementing these are IBM Quantum Safe Explorer and IBM Quantum Safe Remediator, technology assets for discovering cryptographic vulnerabilities in code, testing quantum safe algorithm performance, and establishing quantum safe proxies. Pursuant to this agreement, the two companies will work together to combine IBM's quantum-safe technology with Telefónica Tech's experience in providing managed and professional cybersecurity services with the aim to create solutions that provide security to companies and public administrations against the new and future security risks of a post-quantum world. The solutions being discussed will be specifically designed to help protect organizations' critical data from the risk of being decrypted by quantum computers by implementing new quantum-safe cryptography standards defined by the U.S. National Institute of Standards and Technology (NIST). IBM has co-developed two of the three algorithms that have been published as post-quantum cryptography standards, contributing to data protection in the quantum era. Raquel Ruiz Lozano, Global Head of Strategic Partnerships for Telefónica Tech, states: "Quantum computing offers incredible opportunities, but it could also pose a significant challenge in terms of cybersecurity. This collaboration agreement with IBM allows us to continue to help address the potential risks of the post-quantum world, thanks to its IBM's quantum safe technology, and to offer our clients solutions to help protect their critical data and face this transformation with security and confidence." Adolfo Hernández Pulido, Technology Managing Director for Telefónica at IBM, highlights: "It is critical for organizations to begin evaluating their cryptography and planning a transition to quantum-safe standards. At IBM, we are proud not only to have had a hand in the development of new post-quantum cryptography algorithms, but also to be leading the way with new quantum-safe technologies and services. We are thrilled to sign this collaboration agreement with Telefónica Tech focused on quantum safe technology." The prospective integration of IBM's quantum-safe technologies into Telefónica Tech's portfolio of services is being engineered to enhance the proactive risk assessments capable of being carried out by Telefónica Tech's operations professionals with the aim of helping organizations identify and address cryptography vulnerabilities in their infrastructures. Concordant with this agreement, Telefónica Tech would also assist organizations in their transition to new cryptographic standards, protocols or algorithms to ensure resilience and agility against cybersecurity risks posed by quantum computing, and the transition to new quantum-safe encryption technologies. The agreement also contemplates the creation of a joint use case office, focused on key areas such as communications encryption, adaptation to new secure algorithms, and the protection of critical environments. In this context, IBM's infrastructure has already been deployed at Telefónica's headquarters, located in Distrito Telefónica (Madrid, Spain), to promote business development. This infrastructure is composed of elements specifically designed to promote a secure and resilient environment against the threats of the post-quantum world. These include an IBM LinuxONE system, which is secured with end-to-end encryption including new quantum-safe cryptography; IBM Storage technology; and other advanced tools for protecting master and operational keys. About Telefónica TechTelefónica Tech is the leading company in digital transformation. The company offers a wide range of services and integrated technological solutions for Cyber Security, Cloud, IoT, Big Data, AI and Blockchain. For more information, please visit: https://telefonicatech.com/en About IBMIBM is a leading provider of global hybrid cloud, artificial intelligence, and consulting expertise. We help clients in over 175 countries harness insights from their data, optimize business processes, reduce costs and gain a competitive advantage in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on the IBM hybrid cloud platform and Red Hat OpenShift to achieve their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in artificial intelligence, quantum computing, industry-specific cloud solutions and consulting offer open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, accountability, inclusion and service. Visit www.ibm.com for more information. Contact: IBMWilla HahnWilla.Hahn@ibm.com Telefónica, S.A.Dirección de Comunicación Corporativaemail: prensatelefonica@telefonica.comtelefonica.com/es/sala-comunicacion
HANGZHOU, China, Jan. 10, 2025 /PRNewswire/ -- Hangzhou Sciwind Biosciences Co., a pre-commercial biopharmaceutical company focusing on developing innovative therapies to treat metabolic diseases, today announced a licensing and collaboration agreement for the global development and commercialization of a portfolio of metabolic diseases therapies in territories outside of Greater China and South Korea, with Verdiva Bio Limited ("Verdiva"), a clinical-stage biopharmaceutical company specialized in developing innovative treatments for obesity and other cardiometabolic disorders. The partnered portfolio under this collaboration includes: Oral Ecnoglutide (Ecnoglutide Oral, XW004): A phase 2-ready, potential first-in-class, once-weekly oral GLP-1 receptor agonist Oral Amylin Receptor Agonist (Amylin RA): A potential first-in-class, once-weekly long-acting, oral amylin receptor agonist in IND-enabling studies Subcutaneous injectable Amylin Receptor Agonist (Amylin RA): A potential best-in-class, long-acting, amylin receptor agonist in IND-enabling studies Sciwind has granted Verdiva the exclusive global rights to develop, manufacture and commercialize the partnered programs outside of greater China and South Korea. Sciwind has retained the rights to develop，manufacture and commercialize these products in all other regions. Under the agreement, Sciwind receives an upfront consideration totaling approximately $70 million, and is eligible to receive more than $2.4 billion in milestone payments for development, regulatory approvals and commercialization of above-mentioned partnered programs,. Additionally, Sciwind is also eligible to receive tiered royalties on future product sales outside of greater China and South Korea. Furthermore, the two companies will collaborate on additional preclinical stage programs, and Sciwind is eligible to receive milestones and royalty payments based on the advancement of those programs. Verdiva Bio, led by industry experts and serial entrepreneurs, boasts a world-class drug development team with extensive experience in the global metabolic treatment sector. With this collaboration, Verdiva Bio plans to advance the development of innovative therapies through a series of clinical studies involving both monotherapy and combination treatments. This collaboration highlights the global commercialization potential of Sciwind's innovative pipeline and lays a solid foundation for the worldwide development and potential commercialization of key products like Ecnoglutide. About Oral Ecnoglutide (XW004): Glucagon-like peptide-1 (GLP-1) agonists are effective in treating type 2 diabetes and obesity and show potential in treating MASH as well as obesity-related complications. Ecnoglutide is a novel long-acting GLP-1 analog with cAMP bias, optimized for increased bioactivity and reduced production costs, enabling once-weekly dosing. Completed clinical studies have confirmed that Ecnoglutide has excellent therapeutic effects on patients with type 2 diabetes and obesity, and shows good safety and tolerability. Oral Ecnoglutide (XW004) is a potentially weekly-oral formulation of Ecnoglutide. About Amylin Receptor Agonists: Islet amyloid polypeptide (Amylin) plays an important role in blood sugar and energy homeostasis regulation by delaying gastric emptying, decreasing glucagon level and promoting satiety, thus preventing postprandial blood sugar levels from soaring and promoting weight loss. Long-acting amylin analogs activate both the native amylin and calcitonin receptors. About Sciwind Biosciences: Sciwind Biosciences is a pre-commercial biopharmaceutical company focusing on discovering and developing innovative therapies to treat metabolic diseases. Its product pipeline consists of potentially first-in-class and best-in-class drug candidates, including the long-acting GLP-1 peptide analog Ecnoglutide injection (NDA stage), oral GLP-1 peptide Ecnoglutide tablet XW004 (Phase I), and oral small molecule GLP-1 receptor agonist XW014 (Phase I). Sciwind Biosciences has developed multiple proprietary technologies, including oral peptide and inhaled protein therapeutic delivery platforms, and identified a series of drugs candidate based on these core platforms technology. For more information, please visit: www.sciwindbio.com. About Verdiva Bio: Verdiva Bio is a clinical-stage biopharmaceutical company dedicated to developing next-generation therapies designed to help people living with obesity, cardiometabolic disorders, and related complications achieve better outcomes via more patient-friendly therapeutic options. For more information, please visit: www.verdivabio.com.
SK Biopharmaceuticals, ProEn Therapeutics aim to advance up to 2 preclinical radiopharmaceutical candidates by 2027, via ArtBody™, a bivalent binder platform designed to selectively target tumor cells SK Biopharmaceuticals eyes innovative small protein-based radiopharmaceuticals on safety and efficacy amid growing global demand through the joint research initiative building on the momentum for its radiopharmaceutical therapy business SEOUL, South Korea, Dec. 17, 2024 /PRNewswire/ -- SK Biopharmaceuticals, a biotech company focusing on the research, development and commercialization of treatments for disorders of the central nervous system and oncology worldwide, announced a research collaboration agreement with ProEn Therapeutics, a biotech company dedicated to advancing oncology treatments, to further extend its oncology research capability and expand its pipeline of radiopharmaceutical therapies (RPT). Under this agreement, both sides seek to advance up to two preclinical candidates for the development of novel radiopharmaceutical drugs by 2027 – the year when SK Biopharmaceuticals aims to become a global leading RPT player, via strengthened internal and external resources. This joint research builds on a series of SK Biopharmaceuticals' global strategic partnerships, including the in-licensing of a radiopharmaceutical compound, and a supply agreement to secure actinium-225, an alpha-particle emitting radioisotope, since the company unveiled its "RPT Roadmap" to gain a competitive edge in the rapidly growing field of nuclear medicine. SK Biopharmaceuticals will leverage ProEn Therapeutics' ArtBody™ platform, a dual-target binding technology that incorporates small proteins[1] to identify and target specific tumor antigens – enhancing tumor selectivity – for the development of potential cancer treatments, while minimizing damage to healthy tissues. ArtBody™, which has intrinsic advantages of high stability and structural robustness, can be mass-produced using bacteria, making it ideal for industrial applications. Il-Han Lee, Chief Executive Officer of ProEn Therapeutics, said, "We are pleased to enter this joint research, and positive that the ArtBody™ platform will generate synergy with and complement SK Biopharmaceuticals' radiopharmaceutical therapy business. ProEn Therapeutics will push to produce the best possible outcome that can meet not only the two companies' expectations, but also patients' needs." Donghoon Lee, Chief Executive Officer of SK Biopharmaceuticals, said, "This collaboration with ProEn Therapeutics is significant as the platform technology will help overcome the limitations of existing therapies. We will aim to develop more effective, safer treatments, while leading global RPT research and development efforts." [1] Small proteins, in contrast to antibodies, offer superior tumor penetration, faster clearance, and greater cost efficiency. These advantages help address key challenges in antibody-based drug development – high manufacturing costs and potential toxicity issues – driving an increasing focus on small proteins from pharma and biotech companies worldwide. About SK Biopharmaceuticals SK Biopharmaceuticals focuses 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 through research and development efforts. SK Biopharmaceuticals is the first and only Korean company to independently develop and commercialize an antiseizure medication, cenobamate (brand name: XCOPRI®), in the U.S. Cenobamate, which was commercially launched in the U.S. in 2020 by SK Biopharmaceuticals and its U.S. subsidiary SK Life Science, has successfully entered five major regions: North America, Europe, Asia, Central and South America, and the Middle East and North Africa. The company has 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 ProEn Therapeutics ProEn Therapeutics is a biotechnology company dedicated to advancing oncology treatments through cutting-edge protein engineering. The company's innovative drug development platform, ArtBody™, focuses on bi-specific antibody-drug conjugates tailored for solid cancers. ProEn Therapeutics is also exploring next-generation therapies such as immune cell engagers and chimeric antigen receptor platforms, while extending its research in radiopharmaceuticals. The company is advancing its proprietary pipeline, while actively collaborating with partners specializing in various therapeutic modalities. For more information, visit ProEn Therapeutics' website at https://en.proentherapeutics.com/?redirect=no.
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