Genexine (KOSDAQ: 095700), a Korean clinical-stage biopharmaceutical firm dedicated to developing innovative biologics for critical medical needs, has announced a merger with EPD Biotherapeutics (referred to as ‘EPD Bio’), a pioneer in targeted protein degradation (TPD) bioPROTAC platform technology. This merger aims to bolster Genexine’s research capabilities in PROTAC technology and expand its drug pipeline.
“This merger enables Genexine to access top-tier talent and groundbreaking technology poised to lead the global market, while incorporating novel bioPROTAC drugs into our portfolio,” remarked Sungjune Hong, CEO of Genexine.
EPD Bio’s founder and CEO, Dr. Jaehyun Choi, renowned for his expertise in targeted protein degradation, previously contributed to Arvinas and held key roles at Samsung Advanced Institute of Technology and Trillium Therapeutics. Post-merger, Dr. Choi will assume the role of Genexine’s representative director overseeing R&D, alongside EPD Bio’s core research team. Mr. Hong will continue as representative director overseeing corporate development and business management.
Genexine’s board of directors approved the merger on June 26th, employing a 1:6.1924079 merger ratio with new shares issued to EPD Bio shareholders. The merger process is slated for completion by early October.
EPD Bio focuses on EPDegTM, an mRNA-based bioPROTAC technology enhancing upon small molecule-based PROTAC limitations. This platform delivers fusion-protein degraders via mRNA-LNP, reducing dependency on tissue-specific E3 ligase expression. Positioned as a first-in-class technology, EPDegTM aims to develop a diverse pipeline of TPDs targeting multiple undruggable diseases. EPD Bio’s advancements garnered acclaim, including winning the ‘Korea Startup/Biopharma Acceleration Program 2023,’ supported by the Korea Health Industry Development Institute and Takeda Pharmaceutical.
RM Global Partners LLC served as Genexine’s strategic advisor in this merger.
