"Do you know why I'm here? I came to see you. I came to listen to Mr. Park's talk!"

Three years ago, at a conference hall in Busan, Yong-Joo Kim, CEO of Ligachem Biosciences, unexpectedly addressed Chan-Seon Park, CEO of Txinno Bioscience. The reason for his long journey from Daejeon to Busan was to hear about Txinno's research on ENPP1 inhibitors. Mr. Park was delighted that a respected senior scientist recognized his research.

This was the beginning of the relationship between Txinno and Ligachem. They soon discussed a joint study on ENPP1 inhibitors, but due to strategic differences, they parted ways. However, like a fire rekindled by the wind, they reunited as mentor and mentee under STAR in TECH. They spent a long time discussing new drug development, particularly Txinno’s new ULK1 inhibitor, making the three-year gap seem insignificant.

A quietly observing journalist captured a potentially historic moment. During a serious conversation, the smiles of Mr. Park and Mr. Kim faded as they solemnly agreed on one thing: "Only new drugs can save lives."

Txinno has established a mentor-mentee relationship with Ligachem through the current STAR in TECH program. What are the key points of this collaboration?

"Txinno is developing innovative cancer therapies based on small molecules, focusing on immune and targeted cancer therapies. We are particularly concentrating on the development of ENPP1 inhibitors and ULK1 inhibitors. Ligachem is renowned for its work with antibody-drug conjugates (ADCs), but it also possesses a competitive small molecule pipeline. Mr. Yong-Joo Kim, the CEO of Ligachem, took note of our small molecule development capabilities and first proposed the mentorship."

Why has Txinno focused on ENPP1 inhibitors?

"Recently, it has been revealed that immune checkpoint inhibitors have a low response rate in 'cold tumors,' which lack immune cell infiltration in the tumor microenvironment (TME). In contrast, these inhibitors show therapeutic effects in 'hot tumors,' which are well infiltrated by immune cells. For this reason, 'innate immune oncology' agents that can convert cold tumors into hot tumors are gaining attention as combination partners for immune checkpoint inhibitors. Txinno has taken an interest in the STING pathway, related to the innate immune system, and is currently developing ENPP1 inhibitors."

What is the significance of the Phase 1 clinical trial for the ENPP1 inhibitor?

"Last September, Txinno initiated the first patient dosing for TXN10128 in a South Korean Phase 1 clinical trial involving patients with advanced solid tumors. This marks the second time globally and the first time in Korea that an ENPP1 inhibitor has entered clinical trials. It is significant because it demonstrates a clinical strategy differentiated from competitors. Thanks to the interest and enthusiasm of the principal investigators (PIs) in Korea, patient recruitment has been smooth, accelerating the pace of the clinical trial."

What is the detailed licensing (L/O) strategy following the entry into Phase 1 clinical trials?

"Having secured an accumulated investment of $18.9 million, Txinno is currently preparing for Series C funding. Furthermore, we aim to achieve global licensing (L/O) for our ENPP1 inhibitor. Given that it is an immuno-oncology agent, companies are demanding proof of concept (PoC) at the Phase 1 stage. We plan to secure the required PoC by mid-next year and then actively pursue global licensing.

The company has been laying the groundwork for licensing through meetings with various global pharmaceutical companies. We have also been in continuous discussions with business development (BD) teams from Korean pharmaceutical companies regarding our ENPP1 inhibitor pipeline. With the ENPP1 inhibitor now in Phase 1 trials, we anticipate that achieving milestones in this phase will significantly enhance the pipeline's value. We hope that pharmaceutical BD teams will take a keen interest in the ENPP1 inhibitor."

I understand that the ULK1 inhibitor, currently in the lead optimization stage, is also a key asset for Txinno. What are the advantages of the ULK1 inhibitor?

"First, ULK1 (unc-51 like autophagy activating kinase 1) is a crucial kinase that regulates the early stages of autophagy. Autophagy is a process where cells break down and recycle unnecessary components, allowing cancer cells to survive under stress. By using a ULK1 inhibitor, we can disrupt this autophagy process, hindering the survival of cancer cells.

Additionally, the ULK1 inhibitor selectively targets cancer cells by inhibiting autophagy, which is more active in cancer cells compared to normal cells. This selective targeting minimizes side effects on normal cells while effectively eliminating cancer cells, making it a very safe option that offers various combination therapy possibilities.

Lastly, the combination therapy of ULK1 inhibitors with KRAS pathway inhibitors has potential as a pan-KRAS therapy effective against KRAS mutations other than G12C. For example, the approved KRAS G12C targeted therapy 'Adagrasib' is effective in only about 15% of KRAS mutation patients, and approximately 30% of these patients develop resistance due to other KRAS mutations. Thus, by blocking the autophagy pathway, the ULK1 inhibitor can help overcome resistance and enhance the therapeutic effect when used in combination with existing KRAS cancer therapies."

How much interest are global pharmaceutical companies showing in this field?

"ULK1 inhibitors can offer new treatment strategies for various types of cancer with currently limited treatment options. They can particularly serve as alternatives for cancer patients who do not respond to existing treatments or have developed resistance.

The anticancer market is large and has high growth potential. If ULK1 inhibitors are successfully developed, global pharmaceutical companies stand to gain substantial commercial benefits. This potential for significant returns is one of the main reasons why pharmaceutical companies are heavily investing in ULK1 inhibitor research and development (R&D)."

Can you describe Txinno’s ULK1 inhibitor pipeline?

"We are currently optimizing lead compounds to secure a superior drug compared to Deciphera Pharmaceuticals' 'DCC-3116,' an advanced development compound. We have already secured a compound on par with DCC-3116. By the end of the year, we plan to select a candidate that addresses the weaknesses of DCC-3116 and enter preclinical studies. We intend to pursue early licensing deals with South Korean and international pharmaceutical companies from the preclinical stage."

Is there a global peer group in the ULK1 inhibitor field?

"Deciphera Pharmaceuticals, which I just mentioned, is a key player. Currently, Deciphera's DCC-3116 is in Phase 1/2 clinical trials. Txinno aims to be the third globally to enter clinical trials for ULK1 inhibitors."

What is your ultimate goal?

"I aspire to launch Txinno’s innovative cancer therapies as new drugs to provide tangible help to cancer patients. We aim to go public through a technology-specialized listing and leap forward as a global biotech company. We will continue to grow steadily without losing the spirit of challenge necessary for global new drug development."