SillaJen explores potential ventures in mRNA for growth

[Photo by Yonhap]

South Korean bio firm SillaJen Inc. is seeking avenues for future growth, exploring sectors such as messenger ribonucleic acid (mRNA), regenerative medicine, and a pharmaceutical model akin to that of Swiss biotech company Roivant Sciences Ltd.

According to industry sources on Tuesday, SillaJen is pursuing collaborations with next-generation mRNA technology firms, specialists in regenerative medicine, and U.S.-based biotechs modeling after Roivant, aiming to enhance its corporate value and establish future growth engines.

SillaJen had considered acquiring AbTis Co., an antibody-drug conjugates (ADC) specialist, which was eventually bought by Dong-A ST Co.

Among potential collaboration candidates, a next-generation mRNA technology company stands out for its foundational technology, promising significant cost reductions in production compared to other mRNA platforms.

SillaJen anticipates synergies such as vaccine development using mRNA platforms, taking into account the potential of its oncolytic virus platform, the SJ-600 series, to be developed into anti-cancer vaccines.

Another potential collaborator is a regenerative medicine firm specializing in medical devices and natural resources, offering immediate revenue prospects in the U.S. and Korean markets, despite lacking direct relevance to SillaJen’s current operations.

Additionally, SillaJen is considering investment or collaboration with biotech companies following Roivant‘s model, which involves sourcing promising new drug candidates, conducting initial clinical trials, and then exporting the technology.

Recent high-level meetings between SillaJen and a similar-minded company discussed various forms of partnerships and collaborations.

This company, owning a subsidiary with a promising pipeline for anticancer and rare diseases, has confirmed a merger with a Nasdaq-listed entity.

“It appears that SillaJen has set its direction as a buyer,” said one industry insider.

SillaJen reportedly plans to finalize its new business areas possibly within the first half of this year.