Last Year’s Revenue Reached 99.8 Billion Won, Operating Profit Recorded at 52 Billion Won,
, “OscoTek, a new drug development company, successfully turned a profit after five years, aided by the receipt of a global milestone payment for the new lung cancer drug ‘Lazertinib’ and the technology transfer achievements of an Alzheimer’s drug candidate.”
‘OscoTek announced on the 27th that its consolidated revenue last year was 99.8 billion won, and the operating profit was 52 billion won. Revenue surged by 193.5% compared to the previous year, and it turned from an operating loss of 2.7 billion won in the previous year to a profit.’
‘This marks the first time in five years since 2020 (16 billion won) that OscoTek recorded an annual operating profit.’
‘The key drivers for the turnaround in performance are the global commercialization and technology export achievements of its main pipeline.’
“The milestone payments received after the Japan and China market approvals for OscoTek’s originally developed EGFR mutation non-small cell lung cancer treatment ‘Leclaza (ingredient name Lazertinib)’ and its combination therapy with Janssen’s ‘LibriVant’ have been reflected in the results. Increased royalty income due to domestic and international prescription expansions also contributed to improved profitability.”
“Furthermore, the upfront payment of approximately 55 billion won secured from the technology transfer of the tau protein-targeting Alzheimer’s treatment candidate ‘Adel-Y01 (ADEL-Y01)’ to global pharmaceutical giant Sanofi was also included in last year’s revenue, driving both revenue growth and profit maximization simultaneously.”
“OscoTek plans to focus on strengthening its next-generation R&D capabilities based on the generated cash. The core strategy is to inhibit drug resistance fundamentally by enhancing the ‘anti-resistance anticancer drug’ and the ‘DAC (Drug-Antibody Conjugate) platform’ to improve safety. Through this, the company aims to maximize the continuity of cancer treatment and expand the target to refractory cancer types with lacking treatment alternatives to seize new market opportunities.”
“Managerial efficiency will also be pursued. By establishing a ‘Dual-Hub’ system with its U.S. subsidiary Genosco, it aims to maintain the R&D expertise of both companies while optimizing cost expenditure and process efficiency through integrated operations.”
‘Yoon Tae-young, CEO of OscoTek, stated, “We are pushing ahead with the development of next-generation innovative new drugs, including anti-resistance anticancer drugs, without resting on our previous technology transfer achievements. We are also actively seeking external partnerships so that the existing legacy pipeline can be developed into patient-tailored new drugs without additional self-investment,” he explained.’