Pharos iBio Selected for Government AI Drug Development Project: 3.52B KRW Non-Dilutive Funding for Next-Generation EGFR-Resistant NSCLC Treatment, Positive for Shareholder Value
Pharos iBio has been selected as the lead research institute for the 'Structure-based AI Drug Development Support Project' by the Ministry of Health and Welfare, collaborating with Kolon Pharma for a 33-month (Apr 2026 - Dec 2028) project totaling 3.52B KRW (Pharos iBio share: 1.76B KRW).
The project aims to develop next-generation candidates for PHI-701, a pan-EGFR inhibitor for resistant NSCLC, using the AI platform. Pharos iBio handles AI drug design, while Kolon Pharma manages non-clinical and translational research.
The company secures 1.32B KRW in government grants (9.48% of equity of 13.93B KRW) as non-dilutive funding, strengthening R&D without shareholder dilution. The collaboration with Kolon Pharma enhances prospects for co-development and technology transfer, positively impacting long-term shareholder value.
[AI Summary]This government project selection validates Pharos iBio's AI platform and provides non-dilutive capital for R&D, while the partnership with Kolon Pharma expands commercialization potential. Although near-term stock impact may be limited, the mid-to-long-term outlook for pipeline development is positive.
KOSDAQ Filing Information
Filing: Other Management Matters (Voluntary Disclosure) ([Selection of National Project] Signing of Agreement for the 2026 Structure-Based AI New Drug Development Support Project Supervised by the Ministry of Health and Welfare)