South Korea-based SN BioScience announced on Thursday that it has entered into a domestic manufacturing technology transfer and co-development contract with Boryeong, a pharmaceutical company in Korea, for the albumin nanoparticle anticancer drug (code name: SNA-001), a generic version of Abraxane.

SNA-001 has been developed by SN BioScience for the first time in Korea and the fourth time in the world. It is a product that electrostatically binds cytotoxic anticancer drugs to albumin utilising albumin present in human blood as a drug carrier. Abraxane is a global blockbuster first developed by Abraxis BioScience Inc (acquired by Celgene who became a subsidiary of BMS), with sales of USD1.5bn worldwide in 2020.

The contract allows Boryeong to have exclusive manufacturing and distribution rights in Korea for SNA-001. SN BioScience is to receive milestones and double-digit royalties based on the development stage.