DanDi Bioscience

http://www.thebell.co.kr/free/content/ArticleView.asp?key=202005271424398720107178&svccode=00&page=1&sort=thebell_check_time   

This post has been translated from the original article dated 6/2/2020. 

Dandi Bio is a bio venture that was listed on KONEX for the first time this year. The main pipeline is sepsis treatment, and the other axis is immuno-oncology. One month after entering KONEX, the ransom is in the 40 billion won range.

The mission, which was conceived from the dialect of Gyeongsang-do, 'Dandihaera', contains CEO Park Young-min's will to 'do business properly'. Currently, it is concentrating its efforts on initiating phase 1 clinical trials for sepsis treatment in the United States next year. In 2018, with Next Science as the largest shareholder, he established a relationship with the HLB Group. Dandibio expects to receive clinical trial know-how through cooperation with group companies.

◇ Sold out research on sepsis treatment… 'Low toxicity' competitive advantage factor

Founded in 2016, Dandi Bio has a short history. However, CEO Park Young-min has been immersed in immunology research for 25 years. After working for 18 years at Pusan National University College of Medicine, CEO Park moved to Konkuk University Medical School in 2013. Since then, he has served as the president of Korea Immunology and the head of the Department of Pharmacy at the Basic Research Headquarters of the National Research Foundation of Korea.

The event that started the founding of Dandi Bio dates back to 2005. At that time, CEO Park was xxxxselected for the government's National Research Lab (NRL) project and led research for 'development of optimal dendritic cell therapy through the discovery of immunomodulators and cancer antigens' as a manager for 5 years. At the end of the study, he had an idea for a protein that could control sepsis. Since then, he has been devoted to the development of sepsis treatment and led to the founding of Dandibio.

Sepsis is a high-risk disease with a mortality rate approaching 30% and is mostly caused by Gram-negative bacteria (super bacteria). Toxins secreted from gram-negative bacteria or released after death induce a cytokine storm and lead to death in severe cases according to an excessive inflammatory response.

Sepsis is a situation xxxxwhere there is no sharp cure worldwide. Eli Lilly's Xigris was sold for 10 years, but withdrew voluntarily in 2011 due to toxicity problems.

The candidate substance (DD-S052) discovered by Dandi Bio has a mechanism of action that catches Gram-negative bacteria and removes toxins. In the preclinical process, inflammatory reaction inhibition and low toxicity were confirmed. Currently, the candidate substance has been improved through five stages, and it aims to enter phase 1 clinical trials in the United States next year.

◇Another central axis of immuno-anticancer drugs... Continue efforts to expand indications

CEO Park joined hands with Professor Lim Yong-taek of Sungkyunkwan University with the 'two-track' strategy of the pipeline in the early days of the startup in mind. Professor Lim is immersed in the development of immuno-anticancer drugs as the research director of Dandibio.

The immuno-anticancer drug that Dandi Bio is researching is characterized by improving the limited immune-inducing response of existing anti-cancer vaccines or immune enhancers. It alters the immunosuppressive and tolerant environment within the tumor, inducing immune mechanisms to attack the tumor cells. It is expected to have a synergistic effect with immune checkpoint inhibitors by combining the independently developed drug delivery platform.

Dandi Bio is a venture in the early stage of research, and sales have not yet occurred. CEO Park is working hard to find future food while improving the completeness of the existing pipeline. The company plans to continue investing in research and talent recruitment to expand indications for candidate substances.

◇ Hands-on with HLB Group… Expect business synergies

Dandibio welcomed Next Science as the largest shareholder in October 2018. Using CEO Park's network as a stepping stone, the two companies came into contact. The largest shareholder of Next Science is Jin Yang-gon, chairman of HLB, and Dandibio has virtually joined hands with the HLB group. Next Science entered a new business and Dandi Bio was able to utilize the rich clinical experience of HLB Group.

Dandi Bio maintains organic cooperative relationships with HLB Life Sciences and Immunomic Therapeutics within the group. We are looking forward to business synergies in the future, and we are not considering the group's financial support.

Next Science owns 51.05% of Dandi Bio as of the end of last year. Park's stake is 9.05%.

Dandi Bio is in a situation xxxxwhere it needs to attract external funds to continue R&D. Last year, it raised about 7 billion won through two paid-in capital increases. As an institutional investor, History Investment Advisory participated, holding a 4.58% stake as of the end of last year. History Investment Advisory purchased an additional convertible bond (CB) worth 1 billion won issued by Dandi Bio in March this year.