Joint venture Akijen withdrew in 6 years

SAIT101, a biosimilar of Rituxan, discontinued development, judged that marketability would decline

Samsung Biologics

Akijen, a joint venture established by Samsung Biologics and multinational pharmaceutical company AstraZeneca, is going through the process of rearranging the business in six years.

 

According to Samsung Biologics' quarterly report submitted to the Financial Supervisory Service on the 2nd, the company decided to stop research and development (R&D) activities of AstraZeneca and Akijen Biotech in September.

 

a SAIT101, biosimilar of Mabthera (Rituximab), which ended earlier this year, has been completed with a phase III clinical trial.

 

An official from Samsung Biologics said, "We decided to suspend the business in September under discussion with our partners.

 

We are in the process of finalizing clinical trials that have been underway." "We will announce again it when a specific schedule comes out," he said.

 

Akijen is a joint venture established by Samsung Biologics in June 2014 by investing 50% of each with AstraZeneca.

 

Samsung Biologics first invested ₩71.3 billion in Akijen Biotech.

 

Since 2016, it is reported that a total of about ₩250 billion has been invested while conducting clinical development related to SAIT101 which is prescribed for rheumatoid arthritis and lymphoma.

 

SAIT101 is a project that Samsung Advanced Institute of Technology stopped after 8 months after entering the global phase III clinical trial in 2012.

 

As Akijen resumed clinical development after 4 years, it attracted industry attention, but after 6 years, the development was discontinued again.

 

The results of the Phase III clinical trial ended earlier this year were valid, but the fact that Rituxan's biosimilars are already on sale is confirmed to have had a decisive effect.

 

This is because it was judged that the competitiveness of the original drug would fall if it missed the position of 'First Mover' that enters the market first after the patent expiration.

 

Currently, in the US and Europe, a number of Rituximab biosimilar products such as Celltrion's Truxima and Pfizer's Rexience have been released and are competing.