LG Chem Signs Strategic Collaboration with China's OTR Therapeutics

Accelerating Expansion of the Anticancer Portfolio

LG Chem announced on July 8 that it has signed a strategic collaboration agreement with the Chinese biotech innovator OTR Therapeutics (OTR Therapeutics·OTR) for the discovery and development of anticancer drug candidates.

LG Chem plans to leverage OTR's extensive network and development experience in China, which is emerging as a key hub for innovative drug development, to jointly explore, identify, and evaluate promising anticancer drug candidates from various Chinese companies. The company also aims to secure opportunities for licensing-in outstanding candidates.

Going forward, OTR will conduct preclinical and early clinical development in China, taking advantage of the country's rapid drug development environment, while LG Chem will lead global late-stage clinical development and commercialization, thereby accelerating joint development.

Jiwoong Son, Head of Life Sciences Business Division at LG Chem, said, "This collaboration with OTR is significant in that it strengthens our foundation for systematically discovering and validating promising drug candidates in China, which is emerging as a center for innovative drug development. By proactively securing promising candidates and linking them to future development opportunities, we will enhance our global competitiveness and continuously improve patient access to treatment."

Zhui Chen, founder and CEO of OTR Therapeutics, commented, "We are pleased to sign a strategic collaboration agreement that will help realize the potential of China's biotech ecosystem. By combining our agile R&D and business development capabilities with LG Chem's clinical development and commercialization expertise, we aim to transform early-stage innovations into anticancer drugs with high clinical value."

Based in Shanghai, OTR is a biotech company that integrates its own R&D and open innovation capabilities to conduct research and development in the areas of oncology, immunology and inflammatory diseases, and metabolic diseases.

China is rapidly growing into a key ecosystem for innovative drug development, supported by government policies for new drug development and the streamlining of clinical regulations, which provide both development speed and cost competitiveness. According to the JP Morgan China biopharma report, last year, Chinese drug candidates accounted for 30% of the global innovative drug pipeline.

This content was produced with the assistance of AI translation services.