PharmAbcine announces a research collaboration with LegoChem Biosciences

DAEJEON,South Korea,Jan. 11,2021 --PharmAbcine Inc. (KOSDAQ: 208340ks),a clinical-stage biotech company focusing on the development of fully human antibody therapeutics,announced today that the company has entered into a research collaboration agreement with LegoChem Biosciences Inc. (KOSDAQ: 141080ks),a biopharmaceutical company focusing on the research and development of ADCs (Antibody-Drug Conjugates) in South Korea.

Under the agreement,PharmAbcine will provide PMC-403,a preclinical pipeline,to LCB so LCB can conduct a combination research using PMC-403 and LCB's proprietary ADC. This preclinical study will allow both parties to evaluate the efficacy of the combination therapy in solid tumors.

Dr. Yong Zu Kim. CEO & President of LegoChem said "Currently,our company is widening the development areas such as monoclone antibody-ADC,which is being mainly developed,as well as bispecific antibody-ADC and combination therapy with various drugs. With this agreement,we will try to secure an additional high value-added pipeline by confirming the possibility of combination therapy with our ADC candidates and PharmAbcine's drug"

"We are excited about this agreement with LegoChem Biosciences,a global leader in ADC. We have been emphasizing wide application of PMC-403 to potential partners and investors in recent months," said Dr. Jin-San Yoo,CEO of PharmAbcine. "This agreement marks an important milestone in exploring the full potential of PMC-403."

PMC-403,a Tie2-activating antibody,is a next generation therapeutic antibody that regulates the formation of functional blood vessels. It is expected to induce normalization of leaky blood vessels formed around tumor mass in a ligand-independent manner. It has demonstrated its anti-tumor effect in a mouse model for colon cancer,corroborated by the improvement in immune cell infiltration and delivery of anti-cancer agents to a tumor site when administered as a single agent or as a combination therapy regimen.

PMC-403 also stabilizes and repairs damaged blood vessels in non-oncology indications. PharmAbcine is currently developing PMC-403 for ophthalmology indications such as AMD (Age-related Macular Degeneration).

About LegoChem Biosciences Inc.

LegoChem Biosciences is a biopharmaceutical company focusing on the development of next-generation novel therapeutics utilizing its proprietary medicinal drug discovery technology LegoChemistry™ & ADC platform technology ConjuAll™. Since its foundation in 2006,LCB has focused on the research and development of ADC (Antibody-Drug-Conjugates),antibiotics,anticoagulants and anticancer therapeutics based on proprietary platform technologies.

About PharmAbcine Inc.

PharmAbcine is a clinical-stage biotech company focusing on the development of fully human antibody therapeutics to treat neovascular disorders,tumors,and other medically unmet diseases. It provides therapeutic antibodies for a wide spectrum of indications from oncology,immuno-oncology,ophthalmology,to respiratory.

PharmAbcine has its own HuPhage library and innovative selection system. PharmAbcine's advanced 3G expression system accommodates high levels of antibody production and steady reproducibility. With these cutting-edge technology platforms,it provides state of the art antibody generation services.

For additional information about PharmAbcine,visit http://www.pharmabcine.com.

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