| |JULY 20249GENEXINE TO MERGE WITH EPD BIOTHERAPEUTICS FOR DRUG DEVELOPMENTPULSUS GROUP TO FUNNEL 300 CRORE IN PHARMA HEALTHCARE IT HUBGenexine, a publicly traded clinical-stage Korean biopharmaceutical company dedicated to the discovery and development of novel biologics for the treatment of serious unmet medical needs, has announced a merger with EPD Biotherapeutics (EPD Bio), a firm developing a groundbreaking targeted protein degradation (TPD) bioPROTAC platform technology, to bolster its research workforce and expand Genexine's drug pipeline."Through this merger, Genexine has secured key talent with innovative technology that can lead the global market and at the same time added innovative new drugs based on bioPROTAC technology. Combining EPD Bio's bioPROTAC technology with Genexine's clinical and CMC development capabilities will enable us to continue pursuing the development of innovative new drugs that can lead the global market," said Sungjune Hong, CEO of Genexine.Dr. Jaehyun Choi, EPD Bio's founder and CEO, is an expert in targeted protein degradation technology. He previously worked at Arvinas, a global leader in PROTAC (Proteolysis targeting chimera) technology, and held research and scientific positions at Samsung Advanced Institute of Technology and Trillium Therapeutics. Following the merger, Dr. Choi will join Genexine as a representative director in charge of R&D, working with EPD Bio's core research team. Genexine said that at its board of directors meeting on June 26th, it chose to merge with EPD Bio in a small-scale transaction. The merger ratio is 1:6.1924079, and Genexine will issue additional shares to EPD Bio's current shareholders based on this ratio. Detailed merging procedures are expected to be completed by early October. POPulsus Group intends to establish an AI-based pharma healthcare IT cluster in Ameenpur, Sangareddy district, Telangana, at a cost of Rs 300 crore with the potential to create approximately 50,000 jobs.Pulsus Group CEO and managing director Dr Srinubabu Gedela announced this on the first day of the 73rd Indian Pharmaceutical Congress here on Friday, stating that the project will catalyze the healthcare and IT landscape, creating an estimated 10,000 direct jobs and approximately 40,000 indirect jobs through supporting industries and services.The initiative, which will be based in Ameenpur's IT/ITeS zone, will use AI technologies to enrich all elements of pharmaceuticals, from research and development to healthcare delivery, while also creating a substantial number of jobs for inhabitants, according to him."By integrating the most advanced artificial intelligence, we aim to streamline processes, enhance precision in drug development, and improve patient outcomes. This positions Telangana at the forefront of healthcare innovation in India," Gedela said.Addressing the summit, Telangana Industries and IT Minister D Sridhar Babu stated that the pharmaceutical industry's adoption of AI and other cutting-edge technology will help make pharmaceuticals and treatments more affordable for consumers.Telangana Chief Minister A Revanth Reddy has decided to take a cluster-based and decentralised development approach, with 9-10 pharma zones across the state, to ensure a self-sustaining ecosystem and generate employment in rural areas, he said. PO
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