Bukwang Pharmaceutical Co., Ltd (“Bukwang”) today announces the creation of a Project Focused Company (PFC), Dyna Therapeutics Co., Ltd. (“Dyna”), focusing on development of innovative formulation targeting unmet medical needs.
The first mission of Dyna is to exploit the proprietary technology of Solural Pharma, ApS (“Solural”) in metastatic castration resistant prostate cancer in which application of such technology will valuably improve currently available treatments.
Solural Pharma, a Danish biopharma, has granted an exclusive option to license, develop, and commercialize a patent protected SOL-804 for worldwide territories targeting metastatic castration resistant prostate cancer. Under the terms of the agreement signed between Dyna and Solural, Dyna will benefit from an exclusive license option to progress SOL-804 into clinical development.
Bukwang's Co-President and Co-CEO Dr. Hee-Won Yoo stated "Bukwang is consistently moving forward with its vision for drug development by now creating a dedicated entity such as Dyna. This strategy enables a flexible approach and an optimized value creation of specific assets. We are very confident that this newly founded company with a focus on innovative formulation will be the best vehicle and partner for both Bukwang and Solural to drive SOL-804 to clinical development and commercialization."
In addition to SOL-804, Dyna is expected to add into its expertise other new innovative formulation projects going forward.
About Dyna Therapeutics, Co., Ltd.
Created in May 2016, Dyna Therapeutics Co., Ltd is a biopharmaceutical company based in Seoul, South Korea and 100% subsidiary of Bukwang Pharmaceutical Co., Ltd dedicated to improve patient treatment by focusing on innovative formulation development.
About Solural Pharma, ApS
Solural Pharma ApS is a Danish speciality pharma founded in 2012. The company uses its formulation technology platform to develop new innovative oral drug products that meet the need by the patients, the doctors and the society for the treatment of important medical conditions.