Genexine Announces Merger with EPD Biotherapeutics to Strengthen Drug Development Pipeline

Merger with EPD Bio, a biotechnology company developing a target protein degradation (TPD) platform technology
Jaehyun Choi, Ph.D., Founder and CEO of EPD Bio, Joins Genexine as Head of R&D

SEOUL, South Korea, July 4, 2024–(BUSINESS WIRE)–Genexin (KOSDAQ: 095700), a publicly traded Korean clinical-stage biopharmaceutical company engaged in the discovery and development of novel biologics for the treatment of serious unmet medical needs, announced a merger with EPD Biotherapeutics (hereinafter referred to as “EPD Bio”), a company developing an innovative bioPROTAC targeted protein degradation (TPD) platform technology, to strengthen its research staff with expertise in PROTAC technology and enhance Genexine’s drug pipeline.

“Through this merger, Genexine has secured key talent with innovative technology that can lead the global market and at the same time added innovative new drugs based on bioPROTAC technology. The combination of EPD Bio’s bioPROTAC technology with Genexine’s clinical development and CMC capabilities will enable us to continue to pursue the development of innovative new drugs that can lead the global market,” said Sungjune Hong, CEO of Genexine.

EPD Bio’s Founder and CEO Dr. Jaehyun Choi, an expert in the field of targeted protein degradation technology, previously worked at Arvinas, a global leader in PROTAC (Proteolysis Targeting Chimera) technology, and held research and scientific research positions at Samsung Advanced Institute of Technology and Trillium Therapeutics. After the merger, Dr. Choi will join Genexine as a Representative Director in charge of R&D with EPD Bio’s core research team. Mr. Hong will continue to serve as a Representative Director, overseeing corporate development and business management.

Genexine announced that at the board meeting held on June 26,^thGenexine has decided to merge with EPD Bio through a small-scale merger. The merger ratio is 1:6.1924079, and Genexine will issue new shares to existing shareholders of EPD Bio in accordance with the merger ratio. The detailed merger procedures are expected to be completed in early October.

EPD Bio develops EPDeg^MTan mRNA-based bioPROTAC technology that can overcome the limitations of existing small molecule-based PROTAC technology. The platform creates fusion protein degraders delivered as mRNA-LNPs, eliminating the reliance on tissue-specific expression of E3 ligase. As a unique technology with first-in-class potential, it can generate a diversified TPD pipeline for multiple non-drug targets in different disease indications. EPD Bio has received considerable attention from the industry domestically and internationally as EPD Bio won the “Korea Startup/Biopharma Acceleration Program 2023” led by the Korea Health Industry Development Institute and Takeda Pharmaceutical, which helps domestic biopharmaceutical companies discover and develop innovative technologies.

RM Global Partners LLC acted as strategic advisor to Genexine.

About Genexine

Genexine, Inc. is a publicly traded, clinical-stage biotechnology company focused on the development and commercialization of next-generation long-acting immunotherapies and biologics. Its core technology platforms are therapeutic DNA vaccine technology and hyFc® fusion technology. The Company has multiple products in clinical development, several of which are in Phase 3 registration trials. The Company’s proprietary pipeline includes GX-188E (tirvalimogene teraplasmid) for head and neck and cervical cancer, GX-I7 (efineptakine alfa) for multiple cancers, GX-H9 (eftansomatropin alfa) for pediatric growth hormone deficiency, and GX-E4 for CKD-induced anemia, among others. Genexine has established numerous partnerships with global companies to accelerate product development and commercialization and create significant value. Genexine is listed on the Korea Stock Exchange (KOSDAQ: 095700) and is headquartered in Seoul, Korea. Genexine is committed to the well-being and care of patients around the world. For more information about Genexine, please visit www.genexine.com.

About EPD Bio

EPD Bio is an early-stage biotechnology company focused on developing novel engineered protein degraders that selectively degrade the most difficult-to-treat pathogen proteins that cannot be targeted by current PROTAC (PROteolysis TArgeting Chimera) small molecules. The company was founded in 2021 and is headquartered in Seoul, South Korea.

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Contacts

Investor contact:
Genexine Inc.

Jongsoo Lee, Investor Relations
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Kyuri Kim, Investor Relations
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