HanAll Biopharma, a subsidiary of Daewoong Pharmaceuticals, said Thursday that it plans to present IM156, an immunotherapy agent, during the upcoming 2018 American Society of Clinical Oncology next month.

The new drug has a mechanism that prevents cancer's growth by inhibiting the energy metabolism of the tumor.

ImmunoMet, a spinoff of the company, is conducting phase 1 clinical trial. HanAll had previously proved the drug’s efficacy for glioblastoma, stomach cancer and lymphoma in a non-clinical trial.

After completing phase 1 clinical trials by the end of this year, the company plans to conduct phase 2 clinical trials next year.

“The company expects that IM156 will become a new drug that will provide hope to patients who have cancer,” an ImmunoMet company official said.

As of the end of last year, HanAll Biopharma owns 11 percent of ImmunoMet’s shares. The company has also signed a profit-sharing contract with ImmunoMet and will share all revenue made from the drug.

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