Bio holding company Samsung Epis Holdings announced on the 16th that its pharmaceutical development subsidiary Samsung Bioepis and its bio-platform development subsidiary Episnext Lab have signed a joint research and licensing agreement with domestic biotech company G2GBIO for the development of an obesity treatment.

Under the agreement, Samsung Bioepis and Episnext Lab will use G2GBIO’s microsphere-based drug delivery technology to secure a long-acting obesity treatment and platform technology. Specifically, Samsung Bioepis will license in the development and commercialization rights to G2GBIO’s pipeline and push ahead with product development. Episnext Lab will be responsible for joint research to build the drug delivery technology platform.

G2GBIO is a KOSDAQ-listed company founded in 2017 by CEO Lee Hee-yong, former head of research at biotech firm Peptron. Its headquarters are located in Osong, Cheongju, North Chungcheong Province. The company possesses long-acting injectable technologies that can extend drug efficacy for several months, and its long-acting semaglutide-based candidates are the core pipeline for obesity treatment. Semaglutide mimics the role of the hormone glucagon-like peptide-1 (GLP-1), which promotes insulin secretion, helping to control blood glucose and reduce body weight. The active ingredient in Novo Nordisk’s obesity drug Wegovy is semaglutide.

Samsung Bioepis will have exclusive development rights to two candidates, including a long-acting semaglutide-based obesity treatment, in collaboration with G2GBIO, and will pay an upfront payment and milestones. The parties also agreed on a condition granting Samsung Bioepis preferential negotiation rights to develop three additional candidates, including new drug candidates. The total value of this three-party agreement and other detailed terms will not be disclosed.

The companies appear to be pursuing the development of an innovative obesity treatment that combines long-acting technology with the GLP-1 class of drugs, which has recently attracted significant attention as an obesity treatment option, enabling a single dose to remain effective for several months.

Samsung Epis Holdings, as the holding company, has also backed the joint development and licensing agreement through an investment in G2GBIO. It has signed an agreement to invest in KRW 20 billion in convertible bonds (CB) to be issued by G2GBIO. This constitutes a financial investment while simultaneously establishing a business cooperation relationship.

Kim Kyung-ah, President of Samsung Epis Holdings, said, “This agreement is expected to serve as an opportunity for Samsung Epis Holdings to grow into a comprehensive bio company through new drug development in various fields to address unmet medical needs for patients,” adding, “It is a representative case of an open innovation strategy that maximizes business synergies among affiliates under a holding company structure.”

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