AA Ratings from Nice Evaluation & Korea Institute of Biotechnology
Goal: Secure Approval for 5 New Drugs, Including Lazertinib, in Next 10 Years
Boston-based pharmaceutical development company Genosco, led by CEO Jong Sung Koh, announced on April 25th that it has achieved 'AA, AA' ratings in the technical evaluation for its prospective listing on the KOSDAQ. Genosco, a subsidiary of Oscotec in the United States, attained these ratings from two designated evaluation agencies: Nice Evaluation Information and the Korea Institute of Biotechnology. In light of this assessment, Genosco intends to submit a preliminary review application for KOSDAQ listing in the third quarter of this year, with Mirae Asset Securities acting as the lead underwriter.
Since establishing its research and development (R&D) center in Boston, USA, in 2008, Genosco has leveraged its proprietary drug development platforms, GENO-Kinase and GENO-Degrader, to identify numerous drug candidates. GENO-K is a platform targeting kinases, human signaling proteins, and has been instrumental in discovering drugs such as 'Lazertinib' (trade name Leclaza) for non-small cell lung cancer, 'Cevidoplenib' for immune thrombocytopenia, and 'GNS-3545' for idiopathic pulmonary fibrosis.
Additionally, Genosco is utilizing its GENO-D platform to develop Molecular Glue Degraders, particularly for lung and liver cancer treatments. Compounds derived from this platform are anticipated to serve as the company's next-generation growth drivers, demonstrating promising efficacy in animal models.
Jong Sung Koh, CEO of Genosco, expressed satisfaction with the recognition of the company's achievements in drug candidate discovery through its proprietary platforms. He remarked, "We are pleased to have secured approval for a total of five drugs over the next decade, including Lazertinib, with at least one of them being regionally owned for direct commercialization, aligning with the company's vision."