Biotechnology companies backed by DongKoo Bio & Pharma are making progress in global commercialization, clinical trials and initial public offering (IPO) preparations. Quriant has launched a commercialization effort for an antibody-drug conjugate (ADC) platform with global pharmaceutical and biotechnology services company Lonza, while D&D Pharmatech has reported clinical results for a treatment candidate for metabolic dysfunction-associated steatohepatitis (MASH). Novacell Technology is moving forward with its Kosdaq listing process.
According to industry sources on the 14th, Quriant, in which DongKoo Bio & Pharma is a major shareholder, recently signed a global co-commercialization agreement with Lonza, a global contract development and manufacturing organization (CDMO), for a dual-payload ADC platform. The companies unveiled their jointly developed platform, SYN-duo CC, at World ADC 2026 in San Diego, California.
SYN-duo CC combines Quriant’s CDK7 inhibitor technology with Lonza’s linker and payload technologies. The companies plan to pursue joint licensing opportunities targeting global pharmaceutical and biotechnology companies. Revenue from third-party technology licensing, including upfront payments, milestone payments and royalties, will be shared according to an agreed-upon ratio.
D&D Pharmatech has reported clinical progress for its MASH drug candidate, zafopaglutide (DD01). According to the company, a 48-week Phase 2 study involving patients with metabolic dysfunction-associated steatotic liver disease (MASLD) and MASH in the United States showed results on key histological endpoints, including improvement in liver fibrosis and MASH resolution.
The study results have been selected for the Late-Breaking Abstract (LBA) program, which features significant new research, at the American Association for the Study of Liver Diseases’ annual meeting, The Liver Meeting 2026, scheduled for November. D&D Pharmatech plans to deliver an oral LBA presentation for the second consecutive year. However, the detailed clinical findings and statistical significance will need to be confirmed when the results are presented.
Novacell Technology, a long-term investment holding of DongKoo Bio & Pharma, is pursuing a Kosdaq listing. The company filed for a preliminary listing review with the Korea Exchange in September, with Kiwoom Securities serving as its listing manager. DongKoo Bio & Pharma has invested in Novacell Technology since 2012 and held a 16.8% stake as of the end of June this year.
The two companies are also collaborating on drug development. In February this year, DongKoo Bio & Pharma acquired NCP112, a peptide-based candidate for atopic dermatitis, from Novacell Technology. The candidate has received approval for a clinical trial application for a Phase 2 study in South Korea, and DongKoo Bio & Pharma plans to pursue further clinical development.
DongKoo Bio & Pharma has expanded its partnerships with biotechnology companies beyond equity investments through joint research and development and technology acquisitions. As its portfolio companies advance commercialization, clinical development and listing plans, the results of its investment strategy are becoming more tangible. However, the timing and scale of realized returns may vary depending on each company’s clinical progress, commercialization efforts and listing outcomes.
A DongKoo Bio & Pharma representative said, “Our strategy of proactively identifying companies with strong technologies and growth potential and investing from a long-term perspective is beginning to deliver meaningful results.” The representative added, “We will expand collaboration through strategic investments, joint research and development, and technology acquisitions to strengthen our existing pharmaceutical business and secure new growth drivers.”
DongKoo Bio & Pharma was founded in 1970 as DongKoo Pharmaceutical and has grown into a pharmaceutical company with annual revenue in the 200 billion won range, built on its generic drug business. Among approximately 300 pharmaceutical companies in South Korea, it ranks first in dermatology prescriptions, fifth in urology prescriptions and 11th in otolaryngology prescriptions when reimbursed and non-reimbursed products are combined.