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Japan laboratory to develop anti-COVID-19 drug with S. Korean firm

MAEBASHI — Immuno-Biological Laboratories (IBL), a developer of reagent chemicals and cosmetics, will set up a joint venture with a South Korean company toward the practical use of an antibody drug to treat patients infected with the new coronavirus. The joint venture is scheduled to be established in February 2021 to swiftly develop an antibody drug for COVID-19 patients.

 

The name of the joint venture is “AI Bio.” It will be headquartered in Tokyo’s Chuo Ward. The company is capitalized at 20 million yen, with IBL holding 49% of the shares and Seoul-based antibody drug developer ABCONTEK, 51%. IBL President Tsutomu Seito will serve as a joint representative of the new company. (Abridged)

 

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