LG Chem is strengthening its global oncology portfolio by partnering with a Chinese biotechnology company to discover and develop promising new cancer treatments.
LG Chem announced on July 8 that it has signed a strategic collaboration agreement with China-based OTR Therapeutics to jointly explore and develop innovative oncology drug candidates.
Under the agreement, the two companies will identify and evaluate promising cancer drug candidates being developed by Chinese biotechnology firms. LG Chem plans to secure opportunities to license in candidates that demonstrate strong potential based on its evaluation process.
The partnership will adopt a collaborative development model that leverages the strengths of both companies. OTR Therapeutics will focus on preclinical research and early-stage clinical development in China, while LG Chem will lead global late-stage clinical trials and commercialization efforts.
Through this approach, LG Chem aims to combine China’s rapidly growing biotechnology ecosystem with its own expertise in global clinical development and commercialization, accelerating the process of bringing innovative oncology treatments to international markets.
Based in Shanghai, OTR Therapeutics is a biotechnology company focused on research and open innovation initiatives in oncology, immune-inflammatory diseases, and metabolic disorders. The company has been expanding its capabilities by collaborating with emerging biotech companies and developing next-generation therapeutic candidates.
China has recently emerged as a key hub for innovative drug discovery, supported by increased government investment, regulatory improvements, and a rapidly expanding biotech sector. As global pharmaceutical companies increasingly seek partnerships with Chinese biotech firms, access to competitive early-stage drug candidates has become a strategic priority.
Industry experts note that pharmaceutical companies are increasingly adopting open innovation strategies to secure promising technologies and shorten development timelines. Partnerships with biotech companies are becoming an important pathway for expanding drug pipelines while reducing research and development risks.
LG Chem plans to use the collaboration with OTR Therapeutics to strengthen its oncology pipeline and accelerate its transformation into a global pharmaceutical company. By combining internal R&D capabilities with external innovation, the company aims to secure differentiated drug candidates and enhance its competitiveness in the global healthcare market.
Son Ji-woong, President of LG Chem’s Life Sciences Business, said, “This partnership provides us with a stronger foundation to systematically identify and evaluate promising candidates from China’s biotechnology sector. We will continue to actively secure innovative assets and strengthen our global competitiveness.”
