LG Chem's subsidiary AVEO Oncology is showing results in intractable cancers. AVEO, which was acquired by LG Chem in 2022 for about KRW 750 billion, specializes in developing new anticancer drugs and has recorded annual sales of about KRW 200 billion. AVEO owns Fotivda (tivozanib), which has been approved in the U.S. for the treatment of Stage III or higher renal cell carcinoma. In addition to Fotivda, AVEO is developing first-in-class drugs for refractory cancers such as head and neck cancer and triple-negative breast cancer through novel mechanisms of action.

According to industry sources on the 23rd, AVEO’s head and neck cancer drug candidate, ficlatuzumab, recently entered Phase III clinical trials. F