LG Chem Life Sciences8 Apr 2020 15:40
In December 2018, the Company formed a major, multi-target, Affimer therapeutics development alliance with
LG Chem Life Sciences (‘LG Chem’), a business division of South Korean multinational conglomerate LG
Group. LG Chem focuses on three key core therapeutic areas, namely: Immunology; Oncology; and Metabolic
Diseases (specifically, diabetes).
As with the Moderna collaboration, much of the detail of this alliance has not been disclosed. Avacta has been
required to generate, and carry out early stage optimisation of, Affimer drug candidates against multiple
undisclosed targets. The Company has achieved this first phase, having successfully generated a large number of
Affimer proteins that bind to the first drug target nominated by LG Chem. These candidate Affimer molecules
are now being optimised by Avacta, for LG Chem to then carry out pre-clinical development.
In November 2019, following Avacta’s successful work on the first nominated drug target, LG Chem expanded
the collaboration by nominating two further drug targets. Avacta is presently carrying out the discovery
programmes for Affimer binders to those new targets.
For each of these three nominated drug targets, LG Chem and Avacta will collaborate to progress them through
to drug candidate selection. Thereafter, LG Chem will be responsible for p