Korean Oncology Innovation: Research Highlights from Global Conferences and Economic Impact Analysis

 

1. Executive Summary

South Korean pharmaceutical and biotechnology firms are demonstrating increasing prominence on the global oncology R&D stage, marked by substantial participation and impactful presentations at major international conferences, including the American Association for Cancer Research (AACR), the American Society of Clinical Oncology (ASCO), and the European Society for Medical Oncology (ESMO) during the 2024-2025 period. This report analyzes the key research presented by these companies, evaluates its significance, and assesses the potential economic impact.   

Key research areas highlighted include significant advancements in Antibody-Drug Conjugates (ADCs), with companies like LegoChem Biosciences, Celltrion Group (in partnership with Pinotbio), and Idience showcasing novel platforms, payloads, and linker technologies. Artificial intelligence (AI) is being leveraged for sophisticated diagnostics and biomarker analysis, led by Lunit and Deep Bio, who presented AI models for predicting molecular mutations, treatment response, and enhancing standard pathology workflows. Novel targeted therapies are also a major focus, exemplified by Hanmi Pharmaceutical's diverse pipeline addressing targets like EZH1/2, HER2, MAT2A, and SOS1-KRAS , Onconic Therapeutics' dual PARP/TNKS inhibitor Nesuparib , Abion's c-MET inhibitor Vabametkib , and Daewoong Pharmaceutical's first-in-class candidates. Furthermore, progress is evident in advanced cell therapies, including Curocell's allogeneic CAR-T research , Verismo Therapeutics' novel KIR-CAR platform targeting solid tumors , and NeoImmuneTech's IL-7 therapy showing promise in combination with CAR-T and checkpoint inhibitors.   

These innovations target substantial global oncology markets, such as Non-Small Cell Lung Cancer (NSCLC), Gastric Cancer, Breast Cancer, and Hematologic Malignancies, along with rapidly growing technology segments like ADCs, AI Diagnostics, and CAR-T therapies. Successful clinical development and commercialization of these Korean assets could lead to significant revenue generation and market share capture. Strategic global partnerships, such as the Yuhan/Janssen collaboration for Lazertinib and Lunit's work with AstraZeneca , are proving crucial for late-stage development and market access. A notable strategic focus across several companies involves developing therapies that overcome resistance to existing treatments.   

Overall, the Korean oncology R&D sector exhibits dynamism and innovation, aligning with global therapeutic trends. While clinical development and market access present significant hurdles, the sector is well-positioned for potentially substantial economic impact, driven by a maturing pipeline and increasing global recognition.

2. Introduction

The global oncology landscape is characterized by rapid innovation, fueled by advancements in precision medicine, immunotherapy, targeted agents, and novel therapeutic modalities such as ADCs and cell therapies. Within this dynamic environment, South Korean pharmaceutical and biotechnology companies are transitioning from primarily generic or biosimilar players to significant contributors to global oncology innovation. Their increasing presence and the quality of research presented at premier international scientific meetings underscore this evolution.   

Major oncology conferences, including AACR, ASCO, and ESMO, serve as critical global platforms for the dissemination of cutting-edge research, enabling scientific exchange, fostering collaborations, attracting investment, and establishing credibility within the international community. The AACR Annual Meeting, in particular, is recognized as a leading venue for early discovery and preclinical innovation, making it a strategic showcase for Korean companies often centered on novel research platforms and first-in-class candidates. The high volume of presentations by Korean firms at AACR 2025 signifies a robust domestic R&D pipeline aimed at addressing global oncology challenges.   

This report provides an analysis of the oncology research presented by leading Korean companies at these key international conferences, with a primary focus on AACR 2025 and incorporating relevant data from ESMO and ASCO activities in 2024 and 2025, based on the available information. The objective is to summarize the key scientific findings, evaluate their potential clinical significance and novelty, position them within the relevant competitive landscapes, and estimate the potential economic impact should these innovations reach the market successfully. The analysis is contextualized by incorporating market size forecasts and trends for relevant therapeutic areas (e.g., NSCLC, Gastric Cancer) and technology platforms (e.g., ADCs, AI Diagnostics, CAR-T).   

The methodology relies on the synthesis and analysis of publicly available data, including company press releases, conference abstracts and presentations, specialized news reports covering the biotechnology and pharmaceutical industry, and market research data, primarily sourced from the provided research materials.   

3. Korean Oncology Innovation Showcase at Major Conferences (AACR, ASCO, ESMO 2024-2025)

3.1 Overview of Korean Participation

The significant representation of Korean pharmaceutical and biotech companies at recent major oncology conferences, especially AACR 2025, highlights the country's growing commitment to and investment in oncology R&D. This participation spans a wide range of organizations, from large established pharmaceutical companies diversifying into innovative drugs to specialized biotech firms focused on cutting-edge technologies like ADCs, AI, and cell therapy. The existence of collaborative platforms like the AACR-KCA Joint Conference further emphasizes the strong interplay between domestic research efforts and international scientific exchange. Table 1 provides a snapshot of the key presentations covered in this report.   

Table 1: Summary of Key Korean Company Presentations at Major Oncology Conferences (2024-2025)

Company Name	Conference(s) (Year)	Key Asset(s)/Technology Presented	Target/Mechanism	Indication(s)	Development Stage (approx.)	Source Snippet(s)
Hanmi Pharmaceutical	AACR (2025), ESMO (2024)	HM97662, HM100714, HM100760, HM101207, STING mRNA, p53-mRNA, BH3120	EZH1/2, HER2, MAT2A, SOS1-KRAS, STING, p53, Bispecific (Pentambody)	Various Solid Tumors, HER2+ Cancers, KRAS-mutant Cancers	Preclinical, Phase 1
Lunit	AACR (2025), ESMO (2024)	Lunit SCOPE® IO / AI Platform	AI-driven Histopathology Analysis (TILs, Morphology), Biomarker Prediction	NSCLC (EGFR mut, IO response), Gastric Cancer (IO response), SGC/SDC	Research/Validation
Deep Bio	AACR (2025)	AI Platform (DeepCDx®)	AI-driven IHC Quantification (PD-L1, c-MET), Metastatic Diagnosis (LN)	NSCLC, Breast Cancer	Research/Validation
LegoChem Biosciences (LCB)	AACR (2025)	LCB39, ADC Platform (SOT106, IKS04)	STING Agonist, Various ADC Targets	Solid Tumors	Preclinical (STING), Clinical (ADCs via partners)
Celltrion Group	AACR (2025)	CT-P72, CTPH-02 (w/ Pinotbio), Multi-antibody Platform	HER2 TCE, Dual-Payload ADC	HER2+ Cancers, Others	Preclinical/Early Clinical
Pinotbio	AACR (2025)	ADC Linker Technology	Linker Chemistry (Topo I payload toxicity reduction)	ADC Applications	Platform Technology
Yuhan Corp.	AACR (2025), ESMO (2023/24), WCLC (2024)	Lazertinib (Leclaza), YH32364/ABL104 (w/ ABL Bio)	EGFR TKI (3rd Gen), EGFR x 4-1BB Bispecific	EGFRm NSCLC (1L, Uncommon mutations), Other Solid Tumors (Bispecific)	Phase 3 / Approved (Laz), Phase 1/2 (YH32364)
ABL Bio	AACR (2025)	YH32364/ABL104 (w/ Yuhan)	EGFR x 4-1BB Bispecific	Solid Tumors	Phase 1/2
Abion	AACR (2025), ASCO (2025)	Vabametkib (ABN401), ABN501, ABN202	c-MET Inhibitor, Claudin 3 Ab, Antibody-Cytokine Conjugate	EGFRm NSCLC (c-MET resistance), Other Solid Tumors	Phase 2 (Vabametkib), Preclinical
NeoImmuneTech	ESMO (2024), ASCO (2024)	Efineptakin alfa (NT-I7)	Long-acting IL-7/Fc Fusion	DLBCL (post CAR-T), Pancreatic Cancer, MSS-CRC (combo w/ CPI)	Phase 1b/2a
Verismo Therapeutics	ASCO (2025)	SynKIR™-110 / KIR-CAR Platform	Multi-chain CAR T (Mesothelin target)	Ovarian Cancer, Mesothelioma, Cholangiocarcinoma	Phase 1
Daewoong Pharmaceutical	AACR (2025)	DWP216, DWP217, DWP223	TEAD1 Inhibitor, Arginase Inhibitor, Synthetic Lethality (PARP resistance)	NF2-mutant Tumors, IO Combos, BRCA-mutant Cancers	Preclinical
Onconic Therapeutics	AACR (2025)	Nesuparib	Dual PARP/TNKS Inhibitor	Gastric Cancer	Preclinical/Early Clinical
STCube	AACR (2025)	BTN1A1 / YAP1 Targeted IO	Novel Immune Checkpoint	Colorectal Cancer	Research/Preclinical
Sillajen	AACR (2025)	PBP1510	Anti-PAUF Antibody	Pancreatic Cancer	Phase 1/2a
Idience (Ildong)	AACR (2025)	ID12023, ID12241, ID11916, ID12401	CSC/microRNA, KRAS-mutant, Prostate Cancer (resistance), PARP Inhibitor ADC	Various Solid Tumors	Preclinical
Aptabio	AACR (2025)	APX-343A, Apta-16	Anti-CAF IO, Aptamer-Drug Conjugate (Nucleolin)	Solid Tumors (IO resistance), AML	Preclinical
Handok	AACR (2025)	Small Molecules, TPDs (w/ B&J Biopharma)	EGFR/KRAS Resistance Mechanisms, Targeted Protein Degradation (EGFR)	EGFR/KRAS Mutant Cancers	Preclinical/Early Clinical
Curocell	AACR (2025)	Allogeneic CAR-T Research (Rimqarto/Anbal-cel is autologous)	CAR-T Therapy	T-cell Malignancies (preclin), B-cell Malignancies (Rimqarto)	Research (Allo), Approval Pending (Auto)
Oscotec	AACR (2025)	OCT-598, P4899	Dual EP2/4 Inhibitor, NUAK1/2 Dual Inhibitor	Solid Tumors (Chemo resistance)	Preclinical

  

(Note: Development stages are approximate based on available information. Some ADCs listed under LCB are being developed by partners.)

3.2 Company-Specific Research Summaries and Economic Potential Analysis

3.2.1 Hanmi Pharmaceutical

Hanmi Pharmaceutical showcased a significant and growing commitment to oncology R&D, presenting the highest number of abstracts among Korean companies at AACR for three consecutive years, culminating in 11 abstracts covering 7 novel candidates at AACR 2025. This followed a presentation at ESMO 2024 detailing the Phase 1 trial of their EZH1/2 inhibitor.   

The pipeline presented is diverse, spanning multiple modalities and targets:

• HM97662 (EZH1/2 Dual Inhibitor): This agent targets both EZH1 and EZH2, components of the PRC2 complex involved in epigenetic regulation. Dual inhibition aims to be more effective than targeting EZH2 alone, potentially overcoming resistance mechanisms where EZH1 compensates for EZH2 inhibition. AACR presentations highlighted synergistic effects with chemotherapy and introduced a potential biomarker. A global Phase 1 trial is ongoing in solid tumor patients. The focus on dual inhibition and overcoming resistance positions HM97662 in a competitive but potentially high-impact area of epigenetic therapy.   
• HM100714 (Selective HER2 Inhibitor): This oral covalent inhibitor targets HER2-altered cancers. Data presented at AACR 2025 focused on its potential to overcome resistance to established therapies like Enhertu (trastuzumab deruxtecan) and its efficacy against challenging central nervous system (CNS) metastases, a common issue in HER2+ breast and lung cancers. Addressing resistance and CNS penetration are key differentiation points in the crowded HER2 inhibitor market.   
• HM100760 (Selective MAT2A Inhibitor): Targeting methionine adenosyltransferase 2A (MAT2A) exploits cancer cell metabolic vulnerabilities. Following its initial reveal, AACR 2025 data demonstrated synergistic efficacy when combined with a PRMT5 inhibitor, suggesting potential combination strategies for intractable cancers.   
• HM101207 (SOS1-KRAS Multi-Inhibitor): This novel candidate, unveiled at AACR 2025, targets the interaction between SOS1 and KRAS, preventing the activation of the KRAS oncogene. This represents a distinct approach within the highly competitive field of KRAS inhibition.   
• mRNA Platform: Hanmi is expanding into mRNA therapeutics for oncology. One program involves a STING mRNA-based analog designed to express the STING protein within tumors, activating innate immunity and enhancing anti-tumor response. The STING pathway is a promising immuno-oncology target. Another program uses mRNA to target p53 mutations, prevalent drivers of cancer with currently no approved targeted therapies.Success in the mRNA space could offer significant long-term value.   
• BH3120 (Bispecific Antibody): Developed by Beijing Hanmi using Hanmi's proprietary "Pentambody" platform, this immunotherapy is in Phase 1 trials. This highlights the potential of Hanmi's platform technology for internal development and potentially licensing.   

Hanmi's strategy demonstrates breadth, tackling established pathways like HER2 while exploring novel targets (MAT2A, SOS1) and next-generation modalities (mRNA, bispecifics). The focus on overcoming resistance is a recurring theme. The economic potential is substantial, spanning large markets like NSCLC, breast, ovarian, and potentially bladder cancer, but realization depends heavily on clinical validation, differentiation in competitive fields (HER2, KRAS, EZH1/2), and the successful development of its nascent mRNA platform. The sheer number and diversity of programs presented indicate a significant R&D investment and a strategic ambition to become a major player in innovative oncology.   

3.2.2 Lunit

Lunit has established itself as a leader in AI-powered solutions for cancer diagnostics and therapeutics, leveraging its Lunit SCOPE® suite. The company presented seven posters at AACR 2025 and one at ESMO 2024, showcasing the platform's capabilities across various applications and collaborations.   

Key research highlights include:

• AI for Prediction: Lunit demonstrated AI's ability to predict clinically relevant information from standard H&E pathology slides. This includes predicting EGFR mutation status in NSCLC (in collaboration with AstraZeneca), potentially offering a faster, more accessible alternative to sequencing. Another collaboration showed Lunit SCOPE IO® predicting response to atezolizumab (immunotherapy) in NSCLC by analyzing histologic features. At ESMO 2024, Lunit presented data showing AI-analyzed immune phenotype (based on tumor-infiltrating lymphocytes, TILs) predicted response to Nivolumab plus chemotherapy in advanced gastric cancer, importantly, independent of PD-L1 status. This suggests AI can potentially provide more nuanced predictive biomarkers than current standards.  
• Understanding Resistance and Biology: Lunit's AI tools were applied to complex biological questions. In salivary gland cancer, multi-modal analysis combining AI histology with spatial transcriptomics and sequencing helped identify features associated with response or resistance to neoadjuvant immuno-chemotherapy. Another study identified NSCLC tumors with SCLC-like morphology using AI, correlating this with higher risk of transformation and resistance to EGFR TKIs.   

Lunit's work is significant as it positions AI not merely as an efficiency tool but as a powerful engine for biomarker discovery and prediction in precision oncology. The ability to predict molecular status or treatment response from readily available H&E slides could democratize access to advanced diagnostics. Collaborations with major pharmaceutical companies like AstraZeneca lend validation to their technology. Lunit operates within the rapidly expanding AI in diagnostics market , competing with other AI pathology firms and potentially augmenting or disrupting traditional biomarker testing markets like PD-L1 IHC. The economic potential lies in integrating Lunit SCOPE® into clinical workflows, establishing companion diagnostic partnerships, and ultimately improving the success rate and cost-effectiveness of cancer therapies by better stratifying patients. The focus on generating novel predictive insights beyond established markers, such as the PD-L1 independent prediction in gastric cancer , represents a key strategic direction aiming to provide unique value in treatment decision-making.   

3.2.3 Deep Bio

Deep Bio is another key Korean player in AI-powered digital pathology, focusing on enhancing the accuracy, reproducibility, and efficiency of existing pathology workflows. At AACR 2025, the company presented three studies highlighting its capabilities.   

Research presented included:

• AI-Enhanced Biomarker Quantification: Deep Bio showcased AI models for quantifying standard IHC biomarkers. One study demonstrated AI-based quantification of PD-L1 staining intensity in NSCLC, showing strong correlation with pathologist-assessed Tumor Proportion Scores (TPS). Another applied AI to estimate H-scores for c-MET IHC, again correlating well with pathologist scores and enabling analysis across tumor subtypes.Their DeepCDx® platform underpins this quantitative analysis.   
• AI for Diagnostics: A third study presented a deep learning model for diagnosing metastatic breast cancer in frozen-section sentinel lymph nodes, designed to work effectively even with limited annotations and improve accuracy in this critical intraoperative setting.   

Deep Bio's significance lies in its focus on practical applications of AI to standardize and improve widely used pathology procedures. By providing objective, quantitative analysis of biomarkers like PD-L1 and c-MET, and improving diagnostic accuracy in time-sensitive situations like frozen sections, their technology addresses immediate needs in clinical labs. Deep Bio competes within the AI diagnostics and digital pathology market alongside Lunit and global players. Its economic value proposition centers on delivering efficiency gains, reducing inter-observer variability, and improving the accuracy of established tests within markets like PD-L1 and c-MET testing. While Lunit emphasizes novel predictive capabilities, Deep Bio's strategy appears focused on optimizing and standardizing current diagnostic practices, offering a complementary approach to AI integration in oncology.   

3.2.4 LegoChem Biosciences (LCB)

LegoChem Biosciences (LCB), now part of Orion Group, is widely recognized for its expertise in ADC technology. At AACR 2025, LCB presented five studies, showcasing both its core ADC platform and diversification into immuno-oncology.   

Key presentations included:

• LCB39 (STING Agonist): LCB is developing LCB39, a STING agonist designed to overcome the efficacy and safety limitations observed with earlier candidates in this class, potentially through enhanced tumor penetration and reduced systemic toxicity. Clinical trials are planned for the following year. This marks a strategic expansion into the promising field of innate immunity activation for cancer therapy.   
• ADC Platform: LCB also presented preclinical data on ADCs developed using its proprietary platform technology, including assets like SOT106 and IKS04, which have been out-licensed to global partners. This highlights the success of their platform licensing model.   

LCB's significance stems from its validated ADC platform, which forms the basis for both internal pipeline development and external collaborations, generating licensing revenue and milestone payments. Their move into STING agonists demonstrates strategic diversification into another high-potential IO area, leveraging their chemistry expertise. The ADC market is highly competitive but rapidly growing , validating the value of LCB's platform. The STING agonist field, while still emerging, holds considerable promise, particularly in combination therapies. LCB's economic potential is derived from dual streams: upfront fees, milestones, and royalties from its numerous ADC platform partnerships, and the future value of its internal pipeline, including LCB39, contingent on successful clinical development and demonstrating differentiation. Their strategy exemplifies how a strong technology platform can be leveraged for both internal growth and external value creation through partnerships.   

3.2.5 Celltrion Group (Celltrion & Celltrion Pharm)

Celltrion Group, a global leader in biosimilars, signaled a major strategic expansion into innovative oncology therapeutics at AACR 2025. This move leverages their extensive experience in biologics development and manufacturing.   

Key innovations presented include:

• Multi-Antibody Platform: Celltrion unveiled its proprietary platform for developing multi-specific antibodies, indicating a commitment to complex biologic formats.   
• CT-P72 (HER2-Targeted TCE): An oral presentation focused on CT-P72, a T-cell engager designed to bridge HER2-positive tumor cells and T-cells, thereby enhancing the immune system's attack on the cancer. TCEs represent an advanced immunotherapy modality.   
• CTPH-02 (Dual-Payload ADC Platform): Developed in partnership with ADC technology specialist Pinotbio, Celltrion Pharm presented CTPH-02, an ADC platform capable of carrying two different payloads. This approach aims to enhance treatment efficacy by employing multiple mechanisms of action simultaneously.   

This strategic pivot towards innovative oncology is highly significant for Celltrion. While the biosimilar market provides a strong foundation, the innovator drug market offers higher potential returns, albeit with higher R&D risks. Developing complex modalities like TCEs and dual-payload ADCs positions Celltrion at the forefront of therapeutic innovation. The competitive landscape is intense for HER2-targeted therapies and in the burgeoning TCE and ADC fields. Celltrion's success will depend on validating these novel platforms in clinical trials and demonstrating clear advantages over existing treatments. The economic potential is substantial, allowing Celltrion to capture value in the high-margin innovator drug market, particularly within the rapidly growing ADC segment. This move represents a bold step to leverage their established capabilities for higher-risk, higher-reward innovation in oncology.   

3.2.6 Pinotbio

Pinotbio, collaborating with Celltrion Pharm on ADC development , presented its novel ADC linker technology at AACR 2025. Their technology specifically aims to minimize the risk of interstitial lung disease (ILD), a serious side effect associated with certain ADC payloads, notably topoisomerase I inhibitors like the one used in Enhertu.   

The significance of Pinotbio's technology lies in addressing a critical safety concern that can limit the therapeutic window and applicability of potent ADC payloads. Improving the safety profile of ADCs, particularly those using highly effective but potentially toxic payloads, is a key area of development in the field. Pinotbio operates within the enabling technology segment of the ADC market , where linker and conjugation chemistry are crucial determinants of an ADC's success. Its economic potential stems from licensing its linker technology to ADC developers, enabling the creation of safer and potentially more effective therapies. The partnership with Celltrion provides initial validation and a pathway for application. Success hinges on demonstrating that their linker technology robustly reduces ILD risk in clinical settings while maintaining payload efficacy.   

3.2.7 Yuhan Corporation

Yuhan Corporation stands out as a major Korean pharmaceutical company with a significant success in global oncology R&D, primarily through its third-generation EGFR TKI, Lazertinib (Leclaza), developed in partnership with Janssen (Johnson & Johnson). Recent conference presentations highlight both the continued success of Lazertinib and ongoing innovation.   

Key developments include:

• Lazertinib (EGFR TKI):
  • MARIPOSA Study: Phase 3 results presented at ESMO 2023 and WCLC 2024, and published in the New England Journal of Medicine , showed Lazertinib combined with Amivantamab (J&J's EGFR-MET bispecific antibody) significantly improved PFS compared to Osimertinib (current standard of care) in first-line EGFR-mutated NSCLC (median PFS 23.7 vs 16.6 months, HR 0.70). Longer-term follow-up confirmed consistent benefit. This led to regulatory approvals in the US and EU for the combination. Analysis of resistance mechanisms suggests the combination may alter the biology of acquired resistance compared to osimertinib alone.   
  • PALOMA-3 Study: Demonstrated that a subcutaneous formulation of Amivantamab combined with Lazertinib was non-inferior pharmacokinetically to the IV formulation, with improved safety (fewer infusion reactions, VTEs) and patient convenience.   
  • Uncommon Mutations: A Phase 2 study presented at ESMO 2024 showed Lazertinib monotherapy has promising activity (ORR 50%) in treatment-naïve NSCLC patients with uncommon EGFR mutations (like G719X, L861Q), addressing an unmet need.   
  • Combination Partner: Lazertinib is also being used as a combination backbone in trials for other agents, such as Abion's Vabametkib.   
• YH32364/ABL104 (EGFR x 4-1BB Bispecific): Developed with ABL Bio, this bispecific antibody aims to activate T-cells by targeting EGFR on tumor cells and 4-1BB on T-cells. Presented at AACR 2025, it recently received Phase 1/2 IND approval in Korea.   

Lazertinib's journey represents a landmark achievement for Korean pharmaceutical R&D, demonstrating the ability to develop a best-in-class molecule and successfully partner it for global development and commercialization. The positive MARIPOSA results position the Amivantamab/Lazertinib combination as a new standard of care in first-line EGFRm NSCLC, a highly competitive but large market segment. The development of YH32364 shows Yuhan's continued commitment to innovation in immuno-oncology. The economic impact of Lazertinib is already significant through the J&J partnership (royalties, milestones), validating the potential returns on successful R&D. Continued success and expansion into areas like uncommon mutations and potential future combinations will further enhance its value. YH32364 targets the lucrative bispecific antibody and IO markets. Yuhan's strategy effectively combines internal discovery, strategic partnering for late-stage development, and continued pipeline building.   

3.2.8 ABL Bio

ABL Bio collaborates with Yuhan Corporation on the development of YH32364/ABL104, an EGFR x 4-1BB bispecific antibody. Their joint presentation at AACR 2025 detailed this asset, which aims to enhance anti-tumor T-cell activity.ABL Bio brings expertise in bispecific antibody technology to this partnership. The significance lies in the potential of this novel immuno-oncology approach. The economic potential for ABL Bio is tied to the success of YH32364/ABL104 through the partnership structure with Yuhan, likely involving milestones and royalties.   

3.2.9 Abion

Abion is focused on developing targeted therapies, with its lead asset being Vabametkib (ABN401), a c-MET inhibitor. Presentations at AACR 2025 and a Trials in Progress poster at ASCO 2025 provided updates.   

Key research includes:

• Vabametkib (ABN401): A Phase 2 trial (NCT05541822) is evaluating Vabametkib in combination with Yuhan's Lazertinib for patients with EGFR-mutant NSCLC who have developed resistance to first-line third-generation EGFR TKIs (like Osimertinib or Lazertinib) due to c-MET dysregulation. This targets a specific, clinically relevant resistance mechanism.   
• Pipeline: Abion also presented data on ABN501 (a Claudin 3-targeting antibody) and ABN202 (a novel antibody-cytokine conjugate platform) at AACR 2025.   
• Business Development: The company is actively pursuing licensing partnerships in major markets.   

Abion's strategy of targeting acquired resistance in NSCLC via c-MET inhibition is clinically sound, as MET amplification is a known escape pathway for EGFR TKIs. Combining with Lazertinib leverages a potent and validated EGFR TKI backbone. The c-MET inhibitor landscape includes approved drugs like Novartis's Tabrecta (capmatinib) and Merck KGaA's Tepmetko (tepotinib), as well as pipeline candidates like AbbVie's ADC Telisotuzumab Vedotin. Abion's success with Vabametkib will depend on demonstrating competitive efficacy and safety in this specific resistance setting within the large NSCLC market. Their other pipeline assets (ABN501, ABN202) represent diversification into other novel modalities. Active pursuit of licensing deals suggests a strategy focused on securing external validation and funding to advance their programs.   

3.2.10 NeoImmuneTech

NeoImmuneTech is developing Efineptakin alfa (NT-I7), a long-acting IL-7/Fc fusion protein designed to amplify T-cell responses. Data presented at ESMO 2024 and referenced from ASCO 2024 highlight its potential as a combination therapy partner.   

Key findings include:

• Combination with CAR-T (NIT-112, Phase 1b): In patients with Diffuse Large B-Cell Lymphoma (DLBCL) receiving CD19 CAR-T therapy (tisagenlecleucel), subsequent administration of NT-I7 (at day 21 post-CAR-T) was safe and well-tolerated up to the MTD. Crucially, NT-I7 led to re-expansion of CAR-T cells, increased CAR-T persistence, and enhanced CAR-T stemness (Tscm phenotype). This translated to a high ORR of 81.1% (63.6% CR), comparing favorably to historical controls for the CAR-T therapy alone.   
• Combination with Checkpoint Inhibitors (NIT-110/KEYNOTE A60, Phase 1b/2a): In patients with advanced "cold" tumors typically unresponsive to checkpoint inhibitors (CPIs) alone (pancreatic cancer, microsatellite-stable colorectal cancer), NT-I7 combined with Pembrolizumab showed promising median overall survival (mOS) improvements compared to historical standard-of-care data (Pancreatic: 11.1 months; MSS-CRC: 13.2 months), even in heavily pre-treated populations. Increased CD8 T-cell infiltration into tumors was observed. Biomarker analysis is ongoing to identify predictors of response.   
• Other Potential: Preclinical data suggests synergy with oncolytic viruses and potential applications in treating radiation injury and chemotherapy-induced lymphopenia.   

NT-I7's significance lies in its potential to broadly enhance various T-cell-based immunotherapies. By boosting the number, persistence, and quality (stemness) of T cells, including CAR-T cells, it addresses key limitations of current IO approaches, particularly in challenging settings like solid tumors or post-CAR-T relapse. The IL-7 field has faced challenges , potentially positioning NT-I7 favorably if clinical data continues to be positive. The CAR-T market is expanding rapidly but needs solutions to improve efficacy and durability, especially in solid tumors. NT-I7's economic potential is substantial, primarily as a combination agent that could improve the efficacy, and thus the market value, of numerous other IO therapies across various cancer types. Its potential application in non-oncology settings like radiation countermeasures adds another layer of value. NeoImmuneTech's strategy focuses on demonstrating NT-I7's synergistic value proposition across different IO modalities.   

3.2.11 Verismo Therapeutics

Verismo Therapeutics, a subsidiary of HLB Innovation, is pioneering a novel CAR T-cell platform called KIR-CAR. Their Trials in Progress poster at ASCO 2025 focused on the ongoing STAR-101 Phase 1 clinical trial.   

Key aspects of their technology and trial:

• KIR-CAR Platform: This multi-chain CAR T platform utilizes a modified Natural Killer (NK) cell-derived Killer Immunoglobulin-like Receptor (KIR) paired with DAP12 signaling. This design aims to provide activation and co-stimulation distinct from conventional CAR T pathways, potentially leading to sustained receptor expression, improved long-term T-cell functional persistence, and reduced T-cell exhaustion. This is specifically intended to improve efficacy in challenging solid tumor microenvironments where traditional CAR T cells often fail.   
• STAR-101 Trial (SynKIR™-110): This Phase 1 trial is evaluating the safety and preliminary efficacy of their first KIR-CAR asset, SynKIR™-110, which targets mesothelin, in patients with advanced mesothelin-expressing solid tumors: ovarian cancer, mesothelioma, or cholangiocarcinoma.   

Verismo's significance lies in its development of a potentially differentiated CAR T platform specifically engineered to address the critical challenge of T-cell exhaustion and improve efficacy in solid tumors – a major hurdle for the field. The KIR-CAR mechanism represents a novel approach compared to standard CD28 or 4-1BB co-stimulation domains. The CAR-T market is experiencing explosive growth, but extending its success beyond hematologic malignancies into solid tumors remains a key goal. Verismo competes with numerous companies developing next-generation CAR-T technologies aimed at solid tumors. Its economic potential is very high if the KIR-CAR platform demonstrates superior persistence and efficacy in solid tumors in the ongoing Phase 1 trial and subsequent studies. Success would position Verismo as a leader in the next wave of CAR-T innovation targeting the largest segment of the oncology market.   

3.2.12 Daewoong Pharmaceutical

Daewoong Pharmaceutical presented three novel anti-cancer drug candidates at AACR 2025, each with first-in-class potential and targeting distinct mechanisms.   

• DWP216: A selective TEAD1 inhibitor targeting NF2-mutant tumors, an area with no current targeted therapies.   
• DWP217: An arginase inhibitor designed to counteract immune suppression in the tumor microenvironment, potentially synergistic with PD-1 inhibitors.   
• DWP223: A synthetic lethality agent for BRCA1/2-mutated cancers, including those resistant to existing PARP inhibitors. Preclinical data showed strong anti-tumor effects with low toxicity, and an IND is planned.   

Daewoong's approach focuses on novel targets (TEAD1, Arginase) and addressing resistance (PARP inhibitors). Targeting NF2 mutations and PARP resistance represent specific unmet needs. The PARP inhibitor market is substantial but facing challenges like resistance. The economic potential depends on validating these novel mechanisms and demonstrating clinical benefit, potentially in niche populations initially.   

3.2.13 Onconic Therapeutics

Onconic Therapeutics highlighted Nesuparib at AACR 2025, a dual inhibitor of PARP and Tankyrase (TNKS) being developed for gastric cancer. Preclinical data showed efficacy in both homologous recombination-deficient and -proficient models, distinguishing it from traditional PARP inhibitors which are primarily effective in HR-deficient settings.Nesuparib has received US FDA Orphan Drug Designation for gastric cancer. The dual inhibition mechanism and broader potential efficacy profile are significant differentiators. Success in the gastric cancer market , particularly if it proves effective beyond the typical PARP inhibitor population, could yield substantial economic returns, supported by its ODD status.   

3.2.14 STCube

STCube presented research at AACR 2025 on BTN1A1 as a novel biomarker and immune checkpoint protein in colorectal cancer, along with a dual-targeted immunotherapy approach involving YAP1. The research explores BTN1A1's expression on both immune and tumor cells and its potential role in overcoming immunotherapy resistance. Identifying novel immune checkpoints is crucial for expanding the benefit of immunotherapy. The economic potential is contingent on validating BTN1A1 as a druggable target and demonstrating the efficacy of their therapeutic strategy in clinical trials for colorectal cancer.   

3.2.15 Sillajen

Sillajen presented early safety data from a US-based Phase 1/2a trial of PBP1510, an anti-PAUF antibody therapy for pancreatic cancer, at AACR 2025. The trial is nearing completion of enrollment. Pancreatic cancer remains an area of high unmet medical need. PBP1510 targets the PAUF (Pancreatic Adenocarcinoma Up-regulated Factor) protein. While still early stage, positive safety data is a necessary first step. Significant economic potential exists if PBP1510 demonstrates meaningful efficacy in later-stage trials for this difficult-to-treat cancer.   

3.2.16 Idience (Ildong Pharmaceutical Group)

Idience, Ildong's drug development arm, presented four diverse anti-cancer candidates at AACR 2025 :   

• ID12023: Targeting cancer stem cells via microRNA normalization.
• ID12241: Targeting KRAS-mutant cancers.
• ID11916: Targeting therapy-resistant prostate cancer.
• ID12401: An ADC utilizing a PARP inhibitor as the payload.

This diverse preclinical pipeline targets several high-interest areas: cancer stem cells, the challenging KRAS pathway, treatment resistance in prostate cancer, and the rapidly growing ADC field with a novel payload concept (PARP inhibitor ). The PARP inhibitor ADC is particularly notable for combining two targeted approaches. The economic potential is spread across these different programs, with the ADC holding significant interest given market trends.   

3.2.17 Aptabio

Aptabio presented two candidates at AACR 2025 focused on leveraging the tumor microenvironment (TME) and novel drug delivery :   

• APX-343A: A next-generation immunotherapy targeting cancer-associated fibroblasts (CAFs) in tumors unresponsive to checkpoint inhibitors.
• Apta-16: An aptamer-drug conjugate (ApDC) targeting nucleolin in hematologic cancers like Acute Myeloid Leukemia (AML).

Targeting CAFs represents an effort to modulate the immunosuppressive TME, a key challenge in IO. The ApDC technology offers an alternative targeting and delivery mechanism to antibody-based ADCs. Economic potential depends on validating these novel approaches – targeting CAFs effectively and demonstrating the clinical utility of ApDCs in AML or other cancers.

3.2.18 Handok

Handok presented work at AACR 2025 focused on small molecule therapies targeting resistance mechanisms in EGFR and KRAS mutated cancers. Additionally, in collaboration with B&J Biopharma, Handok is developing Targeted Protein Degraders (TPDs) aimed at increasing efficacy against established targets like EGFR mutations. Addressing resistance is a critical need in targeted therapy. TPDs represent a novel modality gaining significant interest. Handok's economic potential lies in successfully developing differentiated small molecules or TPDs that can overcome resistance in major cancer types driven by EGFR or KRAS mutations.   

3.2.19 Curocell

Curocell presented early-stage research on allogeneic CAR-T therapies for T-cell malignancies at AACR 2025. This comes as the company awaits regulatory approval for its autologous CD19 CAR-T therapy, Rimqarto (Anbal-cel). The move into allogeneic ("off-the-shelf") CAR-T is significant as it aims to overcome the logistical and cost challenges of patient-specific autologous therapies. Success in the allogeneic space could unlock substantial value within the rapidly growing CAR-T market , positioning Curocell at the forefront of next-generation cell therapy in Korea.   

3.2.20 Oscotec

Oscotec, the original developer of Yuhan's Lazertinib, presented its own pipeline of novel small molecule therapies at AACR 2025. This included OCT-598, a dual EP2/4 inhibitor aimed at overcoming chemotherapy resistance, and P4899, a NUAK1/2 dual inhibitor. Oscotec's track record with Lazertinib lends credibility to its discovery capabilities. The economic potential of these early-stage assets depends on validating these novel targets and demonstrating clinical efficacy.   

3.3 Emerging Themes and Technological Trends

Analysis of the presentations reveals several prominent themes and technological trends within the Korean oncology R&D landscape:

• Antibody-Drug Conjugate (ADC) Strength: A significant number of companies, including LCB, Celltrion/Pinotbio, Idience, and Abion, are actively developing ADCs. This focus extends beyond conventional approaches, incorporating novel payloads (e.g., Idience's PARP inhibitor ADC ) and advanced linker technologies designed to improve safety, such as Pinotbio's linker aimed at reducing ILD risk with topoisomerase I inhibitors.This concentration of activity suggests a national strategic focus and developing expertise in a high-growth therapeutic modality, aligning with the global ADC market boom.   
• AI Integration in Diagnostics and Biomarkers: Lunit and Deep Bio are at the vanguard of applying AI to oncology diagnostics. Their work spans from enhancing the efficiency and reproducibility of standard pathology tasks, like IHC scoring (Deep Bio ), to generating novel predictive insights, such as forecasting molecular status (EGFR mutations), treatment response (immunotherapy), and resistance mechanisms directly from H&E images (Lunit ). This mirrors global trends toward AI-driven precision medicine and diagnostics.   
• Targeting Therapeutic Resistance: A critical and recurring theme is the development of strategies to overcome acquired resistance to established therapies. This includes targeting c-MET dysregulation after EGFR TKI failure (Abion in combo with Yuhan's Lazertinib ), developing agents effective against PARP inhibitor-resistant BRCA-mutant cancers (Daewoong ), designing HER2 inhibitors active against known resistance mutations or Enhertu failure (Hanmi ), and using AI to predict resistance development (Lunit ). This focus addresses a major clinical challenge and market need.   
• Exploration of Novel Targets and Pathways: Korean companies are venturing beyond well-trodden paths, investigating novel targets and pathways. Examples include STING agonists (LCB, Hanmi mRNA ), epigenetic targets like EZH1/2 (Hanmi ), metabolic targets like MAT2A (Hanmi ), KRAS pathway modulators like SOS1 inhibitors (Hanmi ), TME components like CAFs (Aptabio ), and other novel kinases or proteins like TEAD1 (Daewoong ), BTN1A1 (STCube ), PAUF (Sillajen ), and Nucleolin (Aptabio ).   
• Adoption of Advanced Therapeutic Modalities: There is clear investment in complex and next-generation therapeutic platforms. This includes bispecific antibodies (Yuhan/ABL Bio, Hanmi/Beijing Hanmi ), T-cell engagers (Celltrion ), mRNA-based therapies (Hanmi ), advanced cell therapies like allogeneic CAR-T (Curocell ) and novel CAR platforms (Verismo's KIR-CAR ), and targeted protein degraders (Handok ).   

The breadth and depth observed across these themes suggest a maturing Korean oncology ecosystem. There is established strength in areas like ADC technology, likely built over time, coexisting with ambitious exploration into cutting-edge fields like AI-driven biomarkers, mRNA therapeutics, and advanced cell therapies. This indicates a strategic shift towards higher-risk, potentially higher-reward innovation aimed at addressing global unmet needs in oncology.

4. Consolidated Economic Outlook for Korean Oncology Pipeline

The research and development activities highlighted by Korean companies at major oncology conferences target segments of the global oncology market with substantial current value and significant projected growth. Capturing even a modest share of these multi-billion dollar markets could translate into considerable economic impact for the Korean bio-industry.

4.1 Aggregated Market Potential

The therapeutic areas and technology platforms where Korean companies are demonstrating innovation represent significant global market opportunities. As summarized in Table 2, key segments like NSCLC therapeutics, ADCs, CAR-T therapy, and AI in diagnostics are projected to experience robust growth, reaching tens or even hundreds of billions of dollars in market value over the next decade.

Table 2: Relevant Oncology Market Size Forecasts Summary

Market Segment	Estimated Size (Base Year)	Forecasted Size (End Year)	CAGR (%)	Key Korean Players Active	Source Snippet(s)
NSCLC Therapeutics	~$27.7B (2024)	~$50B (2030)	10.3%	Hanmi, Lunit, Deep Bio, Yuhan, Abion, Idience, Celltrion, LCB
Gastric Cancer Treatment	~$5.5B (2024)	~$14.5B (2032)	13.0%	Onconic, Lunit, Hanmi, LCB, Celltrion
Antibody-Drug Conjugates (ADCs)	~$10.8B (2023)	~$47.0B (2029)	28.4%	LCB, Celltrion/Pinotbio, Idience, Abion
AI Medical Diagnostics	~$1.71B (2024)	~$4.72B (2029)	22.5%	Lunit, Deep Bio
CAR-T Therapy	~$5.5B (2024)	~$29.0B (2029)	39.6%	Curocell, Verismo, NeoImmuneTech (combo)
PARP Inhibitors	~$8.4B (2024)	~$23.5B (2033)	12.1%	Onconic, Daewoong, Idience
PD-L1 Biomarker Testing	~$0.76B (2024)	~$1.20B (2030)	7.88%	Lunit (AI analysis), Deep Bio (AI analysis)
c-MET Inhibitors (NSCLC)	N/A (Sub-segment)	N/A (Sub-segment)	N/A	Abion, (Deep Bio AI analysis)
STING Agonists	N/A (Emerging)	N/A (Emerging)	N/A	LCB, Hanmi (mRNA)

  

(Note: Market size figures are estimates from various sources and may differ; representative figures are selected for illustration. N/A indicates specific market size data was not available in the provided snippets or represents a sub-segment/emerging area.)

The sheer scale of these markets underscores the magnitude of the economic opportunity. Success in bringing even one or two innovative therapies or technologies to the global market in areas like NSCLC, ADCs, or CAR-T could generate billions in revenue through direct sales, licensing fees, milestone payments, and royalties.

4.2 Factors Influencing Economic Impact

While the potential is vast, realizing this economic impact is contingent on several critical factors:

• Clinical Success and Differentiation: The most significant determinant is the successful navigation of clinical trials. Assets must demonstrate not only safety but also compelling efficacy, ideally offering clear differentiation from or improvement upon existing standards of care. This is particularly crucial in crowded fields like EGFR TKIs or HER2 therapies. Demonstrating benefit in areas of high unmet need (e.g., specific resistance settings, difficult-to-treat cancers like pancreatic or gastric cancer, solid tumor CAR-T efficacy) significantly enhances value.
• Commercialization Strategy and Partnerships: Few Korean companies possess the global infrastructure required for large-scale Phase 3 trials, regulatory filings across multiple regions, and international commercialization. Therefore, strategic partnerships with global pharmaceutical companies, like the Yuhan-Janssen deal for Lazertinib , are often essential for maximizing the reach and economic return of innovative assets. Licensing deals for platform technologies (e.g., LCB's ADC platform ) or specific assets (e.g., Abion seeking partners ) can provide non-dilutive funding, external validation, and access to larger markets.   
• Competitive Landscape Dynamics: The oncology market is intensely competitive. New entrants must contend with established blockbusters and numerous pipeline candidates from global players. Success requires not only clinical efficacy but also strategic positioning, potentially focusing on specific patient niches, combination therapies, or demonstrating advantages in safety, convenience (e.g., oral vs. IV, SC vs. IV ), or cost-effectiveness. The emergence of resistance to targeted therapies creates opportunities for next-generation agents, a strategy pursued by several Korean firms.   
• Pricing, Reimbursement, and Market Access: Gaining regulatory approval is only one step; securing favorable pricing and reimbursement from healthcare systems globally is critical for market uptake, especially for high-cost innovations like CAR-T therapies or potentially premium-priced ADCs and targeted agents. Market access negotiations can be complex and vary significantly by region.   

4.3 Broader Implications for the Korean Bio-Industry

The success of the oncology pipelines presented has implications beyond individual company revenues:

• Enhanced Global Reputation and Competitiveness: Each successful global launch of an innovative drug originating from Korea, following the example of Lazertinib , elevates the perception of the entire Korean biotech sector. Consistent delivery of novel therapies would solidify the country's position as a hub for pharmaceutical innovation, moving beyond its strong base in biosimilars and generics.   
• Attraction of Investment and M&A: Positive clinical data, successful partnerships, and commercial launches significantly increase the attractiveness of Korean biotech companies to international investors and potential acquirers. This influx of capital can fuel further R&D and ecosystem growth, creating a virtuous cycle.
• Domestic Ecosystem Development: Success fosters the development of specialized domestic capabilities, including experienced clinical researchers, regulatory experts familiar with global standards, and advanced manufacturing facilities (like those potentially leveraged by Celltrion ). The synergy observed between therapeutic developers and AI diagnostic companies like Lunit and Deep Bio also points towards a strengthening domestic ecosystem where different technological capabilities can complement each other.   

The substantial market opportunities targeted by Korean oncology innovators represent a significant potential engine for economic growth. However, the pathway from promising research presented at conferences to marketed products generating substantial revenue is long and fraught with challenges. The interplay between strong domestic R&D capabilities, particularly in areas like ADC technology and AI, and the ability to forge effective global partnerships for late-stage development and commercialization appears to be a critical success factor for maximizing the economic potential of this burgeoning pipeline.

5. Conclusion

The research presented by South Korean pharmaceutical and biotechnology companies at major international oncology conferences in 2024 and 2025 paints a picture of a vibrant, increasingly innovative, and ambitious sector. Korean firms are moving beyond incremental advances and are actively developing potentially first-in-class or best-in-class therapies across a diverse range of modalities and targets.

Key strengths are evident in the development of Antibody-Drug Conjugates, leveraging sophisticated platform technologies, and in the application of Artificial Intelligence to enhance diagnostics and biomarker discovery. There is a clear strategic focus on addressing clinically relevant challenges, such as acquired resistance to existing therapies.Furthermore, significant investments are being made in novel immuno-oncology approaches, including bispecific antibodies, T-cell engagers, IL-7 augmentation, and next-generation CAR-T platforms aimed at solid tumors.   

The collective potential of these pipelines is substantial, targeting multi-billion dollar global oncology markets poised for significant growth. Successful translation of these research findings into approved therapies could generate significant economic value through direct sales, licensing revenues, and enhanced global competitiveness for the Korean bio-industry. The success of Yuhan's Lazertinib serves as a powerful precedent.   

However, the path forward requires navigating significant hurdles. Clinical trial success remains the primary determinant, followed by the complexities of global regulatory approval, market access, and intense competition. Strategic international partnerships appear crucial for many companies to overcome these challenges and fully realize the global potential of their innovations.

The future outlook hinges on upcoming clinical trial results, regulatory decisions, and the ability to continue fostering both internal R&D excellence and effective global collaborations. While risks are inherent in drug development, the dynamism, breadth of innovation, and strategic focus demonstrated by Korean companies at these premier conferences signal a clear trajectory towards becoming more significant players in the global effort to combat cancer. Their consistent and increasingly sophisticated presence on the international stage reflects an ambition to lead, not just follow, in key areas of oncology innovation.