S.Korea's Biorchestra signs tech transfer deal for drug delivery system

Biorchestra Co., a South Korean company specializing in RNA-based therapeutics, announced on Tuesday that it has entered into a joint research and option contract with a global biotech company to transfer its brain-targeting polymer-based drug delivery technology. The identity of the contracting party was not disclosed according to the agreement.

The contract amount is estimated at $861 million (1.1 trillion won).

Under the terms of the agreement, Biorchestra will provide its drug delivery technology, BDDS, and the partner company plans to apply this technology to nucleic acid drug candidates to develop new drugs that can treat various neurodegenerative brain diseases.

"We are excited to have entered into a partnership with a global pharmaceutical company.  We will do our best with our partner to develop new drugs that can make a significant difference in the lives of patients," said Branden Ryu, CEO of Biorchestra.

Write to Jeong Min Nam at peux@hankyung.com