Pharos iBio, Kolon partner to develop lung cancer drug candidate

Pharos iBio, a Korean AI drug-discovery firm, said Wednesday it has signed a joint research and development (R&D) agreement with Kolon Pharma to develop PHI-701, an experimental drug for non-small cell lung cancer (NSCLC), extending an earlier partnership into preclinical and clinical work.

Pharos iBio and Kolon Pharma will jointly develop PHI-701, an AI-designed NSCLC drug targeting EGFR mutations and resistance. (Courtesy of Pharos iBio)

The deal pairs Pharos iBio's drug-design platform with the development arm of Kolon Pharma, a generics and prescription-drug maker owned by Kolon Group.

PHI-701 targets mutations in the epidermal growth factor receptor (EGFR) gene, a common driver of NSCLC, and is designed to overcome resistance that builds up after treatment with existing EGFR therapies.

Under the agreement, Pharos iBio will design and optimize drug candidates using its AI platform, Chemiverse, while Kolon Pharma's new-drug division -- added in 2023 through a merger with cancer-drug developer Platbio -- runs mechanism-of-action studies and preclinical testing. The companies said they will jointly set clinical strategy, including target patient groups and trial design.

The agreement follows a memorandum of understanding (MOU) the two companies signed in May. In June, the project was selected for a state-funded AI drug development program run by the Ministry of Health and Welfare (MOHW) and the Korea Health Industry Development Institute (KHIDI).