DxVx acquires Avixgen, a novel drug development platform company
DxVx, a bio-healthcare company, has announced its acquisition of Avixgen, a novel drug development platform company, as part of its strategy to strengthen its novel drug development business. On the 7th, DxVx revealed that it has acquired 63% of Avixgen's shares for 15.2 billion won.
Avixgen is known for its new drug pipelines and next-generation tissue-penetrating delivery platform technology called "ACP" (Advanced Cell Penetrating Peptide). The company explains that ACP technology is an advancement of Cell Penetrating Peptide (CCP) technology, which significantly improves the permeability, delivery, and solubility of drugs. One of the major advantages of ACP technology is its ability to overcome the blood-brain barrier (BBB), a challenge in the development of treatments for brain diseases and metabolic diseases such as diabetes and obesity.
Avixgen has been conducting clinical trials for various pipelines based on its ACP technology, including treatments for age-related macular degeneration, dry eye disease, and atopic dermatitis. In the case of macular degeneration, phase 1 trial has been completed, and phase 2 trial is currently being prepared in collaboration with Seoul National University Hospital and Boram Hospital. For dry eye disease, a phase 2a clinical trial is underway with Bundang Seoul National University Hospital and Samsung Seoul Hospital, with plans to proceed to phase 2a in the US by the end of the year.
With the acquisition of Avixgen, DxVx aims to secure new pipelines and take its technology for new drug and vaccine development to the next level. Mr. Han Seong-joon, an expert in infectious disease vaccines and new drug development, has joined as the Executive Director, and DxVx continues to actively recruit talents in the relevant field.
An official from DxVx stated, "We are considering conducting global clinical trials in the US and China to penetrate the global market with these pipelines. We will scale up Avixgen's technologies and commercialize them, and then pursue an IPO such as technology-based special listing at an appropriate time."