S. Korea's Bioleaders sets up joint venture with Israel technology transfer company

By Lim Chang-won Posted : March 20, 2019, 18:53 Updated : March 20, 2019, 18:53

[Courtesy of Bioleaders]


SEOUL -- Bioleaders, a biomedicine company in South Korea, set up a joint venture with Yeda, a technology transfer company of the Weizmann Institute of Science, a public research university in Israel, to develop anti-cancer drugs.

Bioleaders said in a regulatory filing on Wednesday that it would invest $10 million in the joint venture and the rest coming from Yeda. The two companies would secure cancer treatment technology and develop new drugs, starting with the clinical trial of P53, a cancer-inhibiting protein.

P53 is a tumor suppressor gene that functions to kill or repair damaged cells. About 50 percent of cancer cases are caused by the malfunctioning of damaged cells because the P53 gene is not functioning normally.

Bioleaders Chairman Park Young-chul said in a statement that the deal paved the way for technology development related to the reactivation of the mutagenic P53 for cancer treatment "We will work on clinical trials of anti-cancer drugs."

Yeda markets and commercializes intellectual property created at Weizmann Institute of Science laboratories. Six Nobel laureates and 3 Turing Award winners have been associated with the Weizmann Institute of Science.

Bioleaders develops cervical intraepithelial dysplasia treatment, cervical cancer treatment and non-clinical vaccine adjuvant and treatment for muscular dystrophy. The company also provides health functional foods and functional cosmetic materials.
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