July 6, 2016

LegoChem Biosciences, Inc. (“LegoChem”) (KOSDAQ: 141080), a public biopharmaceutical company focused on research and development of novel antibiotics, anticoagulant and anticancer drugs, today announced that it has entered into a Joint Venture Agreement with Geom Therapeutics (“Geom”) to develop and commercialize LCB10-0200, a novel cephalosporin antibiotic targeting multidrug-resistant gram-negative pathogens, such as Pseudomonas and Acinetobacter. Under the Joint Venture, LegoChem acquires majority ownership and board seats in the Board of Directors in return for granting the Joint Venture an exclusive license to develop and commercialize LCB10-0200 worldwide, outside of Korea. LCB retains development and commercialization rights in Korea.

Geom plans to initiate a Phase 1 clinical trial of LCB10-0200 in 2017. By utilizing Geom’s expertise in global antibiotic development, LCB10-0200 will undergo more efficient and faster drug development.

LCB10-0200 is a cephalosporin antibiotic that s...

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