[THE INVESTOR] Korean biotech firm ImmuneMed’s protein-based antiviral candidate is drawing keen interest from global pharma firms including Roche and Johnson & Johnson, a company official told The Investor on Feb. 21.

Four companies -- Roche, Johnson & Johnson, Gilead Sciences and another firm that declined to be identified -- have been exploring global licensing and co-development opportunities for ImmuneMed’s lead antiviral substance called Virus Suppressing Factor, or VSF.

The unidentified company that is said to be one of the world’s top five, has so far made the biggest progress in negotiations, according to ImmuneMed.
“We signed a Material Transfer Agreement, which is the normal procedure prior to a licensing deal,” the official said. The agreement governs the transfer of tangible research materials between two parties.

Being designed to trigger innate antiviral responses, VSF is being developed as a treatment for infections such as influenza, hepatitis B and C as well as incurable skin diseases. The firm plans to initiate phase 1 clinical trials in Korea in April.

“We plan to bring the therapy to the Korean market by 2022 while pursuing global clinical trials with overseas partners,” the official said.

The firm is hoping that VSF, which is based on a naturally produced protein, will eventually replace existing virus vaccines such as interferon that have side effects and resistance issues.

Investors also appeared to be betting big on the potential therapy, injecting 15.2 billion won (US$14.21 million) since 2015 into the firm that has been posting consecutive losses.

“Considering our clinical study expenses, it is unlikely that we will make a profit for the next two years,” the official said.

Founded in 2000, ImmuneMed is also developing rapid test kits for dengue fever and other hemorrhagic viruses. It plans to float its shares on the country’s KOSDAQ market in the second half of 2019.

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