AVEO Oncology Makes Progress As Global Oncology Leader – Continues Integration With LG Chem Life Sciences

INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Edgar Braendle.

The Price of Business recently featured Edgar Braendle, MD, Chief Medical Officer of AVEO Oncology, an LG Chem company.  Dr. Braendle provided our listeners with an update on the progress of AVEO Oncology, its pipeline, and its integration with LG Chem Life Sciences (https://innovation.lgchem.com/).

According to Dr. Braendle, central to AVEO Oncology’s growth strategy is the ongoing development of FOTIVDA® (Tivozanib) for kidney cancer.  In addition to FOTIVDA, AVEO Oncology is developing its investigational drug Ficlatuzumab (formerly known as AV-299) a targeted antibody for the treatment of head & Neck cancer and the drug AV-380 for the treatment of cancer-related cachexia (a complex metabolic syndrome, characterized by malnutrition and severe involuntary weight loss due to the loss of muscle and fat tissue).

AVEO plans to boost its existing oncology business significantly and to become an innovative oncology company that can exert significant influence in the global markets.  AVEO plans to expand its oncology portfolio by investing in own clinical development programs and introducing additional FDA-approved oncology drugs or late-stage clinical development programs targeting US market to significantly expand presence in a short period of time.

LG Chem leadership acknowledged its plan to enhance the competitiveness of AVEO’s new drug pipeline in the U.S. oncology market. This plan would be to develop AVEO Oncology into an innovative pharma company that consistently and continuously introduces new drugs in the broader North American market. Through this strategy, AVEO would have the best chance to take the lead in developing and commercializing new anti-cancer drugs, while LG Chem could further strengthen AVEO’s existing capabilities to grow into a global pharmaceutical company.

The global oncology market is one of the leading sectors of the pharmaceutical and biotechnology industry and is expected to reach USD 315 billion by 2026, up from USD 190 billion in 2021 at a compound annual growth rate of 10.4%. The U.S. currently accounts for more than 40% of this market.