Celltrion increases its stake in British ADC developer Iksuda

Celltrion Inc. has secured an additional stake in the UK's antibody-drug conjugate (ADC) developer Iksuda Therapeutics.

According to Celltrion on Wednesday, it acquired additional stakes in Iksuda in two ways, including Celltrion's recent direct investment and Mirae Asset Celltrion Growth Fund, in which the company took part jointly with Mirae Asset Group.

Celltrion, who had previously been looking for growth engines in the anti-cancer area, signed an agreement with Mirae Asset Group in Jun. 2021 to participate in the Iksuda Series A funding.

The Iksuda Series A fund, led by the two companies, invested a total of 53 billion won ($47 million), and secured a total of 47% in the British company.

Iksuda is a company that develops the next-generation ADC for incurable cancer drugs. ADC is an anti-cancer technology that has recently received attention by specifically attacking cancer cells by connecting antibody drugs and chemical anti-cancer drugs (payloads).

Write to Jae-Young Han at jyhan@hankyung.com