[THE INVESTOR] Korean consulting firm 7STOCK said on Oct. 18 it has reached an agreement with local biotech startup Haim Bio to support its development of next-generation oncology treatment as it moves toward an IPO.

Founded in 2015, Haim Bio is conducting non-clinical studies of its metabolic cancer treatment candidate and plans to complete the phase 1 clinical trials by the first half of 2019. 

7STOCK CEO Song Young-bong (left) and Haim Bio CEO Kim Hong-ryeol

“Haim Bio’s metabolic targeted oncology drug candidate showed significant efficacy in animal trials, outpacing others focusing on anti-cancer drug development such as US-based startup Enlibrium and MD Anderson Cancer Center,” Haim Bio CEO Kim Hong-ryeol said.

Haim Bio acquired the technology involving metabolic targeted therapy of cancer from Korea’s National Cancer Center this year, following a license-in deal for oncology treatment technology for lung, gastric and brain cancer, co-developed by the center and Yonsei Severance Hospital.

“Haim Bio is showing huge potential since it secured the original technology protected by domestic and international patents. It has also cleared hurdles that most bio startups struggle with, such as securing funding for research and development and finding clinical sites and participants,” said 7STOCK CEO Song Young-bong.

7STOCK offers consulting services to companies exploring the option of becoming a publicly traded stock. Its clients include KT, LG Telecome, Samsung SDS and Medipost.

By Park Han-na (hnpark@heraldcorp.com)