Hanmi and MEDiC sign cancer biomarker partnership

Hanmi Pharmaceutical, a prominent biopharmaceutical company in South Korea, has embarked on a new research collaboration and funding agreement with the Silicon Valley startup, MEDiC Life Sciences. This partnership aims to push forward the discovery of cancer biomarkers, which are crucial for the clinical development of Hanmi's therapeutic cancer assets. The collaboration was officially announced on October 14.

MEDiC Life Sciences will utilize its functional genomics platform, MCAT, to identify biomarkers that will aid in the clinical application of Hanmi’s cancer treatments. In exchange for this crucial technological support, Hanmi has made upfront payments and provided $5 million in strategic funding to MEDiC. This financial support will help MEDiC partner further with other organizations, including notable companies like LG.

The MCAT platform is built on CRISPR technology and is designed to simulate the interactions between cancer drugs and all possible genetic mutations. The platform focuses on identifying synthetic lethality signature (SLS) biomarkers, which are mutations that become lethal when combined with specific drugs. Identifying these biomarkers is essential for tailoring treatments to maximize effectiveness for cancer patients.

One of the significant advancements of the MCAT platform is its use of 3D models. These models have been shown to improve the accuracy and applicability of functional genomics compared to traditional 2D cultures. Young Choi, who leads Hanmi’s research and development, expressed optimism that this collaboration would enhance the value of Hanmi's new cancer drugs by increasing the likelihood of success in clinical trials.

Dr. Kyuho Han, the co-founder and CEO of MEDiC, highlighted the goal of validating the clinical relevance of SLS biomarkers through this partnership. If the collaboration proves successful, the MCAT platform could significantly improve the efficiency and marketability of cancer therapies, potentially reducing the high failure rates and escalating costs associated with drug development.

This strategic investment from Hanmi comes ahead of a planned Series A financing round for MEDiC later in the year. MEDiC has already raised $8 million in seed capital and plans to use the new funds to foster future collaborations. The company has previously partnered with Bristol Myers Squibb and other undisclosed U.S. firms.

Hanmi Pharmaceutical’s recent move is part of a series of strategic collaborations and investments. For instance, Hanmi provided a $10 million loan to Aptose Biosciences to support the development of tuspetinib, an acute myeloid leukemia treatment. Hanmi Sciences, the parent company, has also made substantial investments in areas beyond oncology, particularly in developing GLP-1 analogues for treating metabolic disorders.

These strategic decisions come at a crucial time for Hanmi, as the company seeks to strengthen its position in the biopharma sector amid various industry challenges. Hanmi Pharmaceutical currently has a market capitalization of approximately ₩4 trillion ($3 billion).

The collaboration between Hanmi and MEDiC Life Sciences represents a significant step forward in the quest to advance cancer treatment and biomarker discovery. By leveraging cutting-edge CRISPR-based technology and strategic investments, both companies aim to make substantial strides in the field of oncology and improve outcomes for cancer patients.