Bukwang Pharmaceutical Co., Ltd. announced today that first patient in Korea was screened to global Phase 2b study of MLR-1023. It is a novel anti-diabetic agent currently under co-development with Melior Pharmaceuticals I Inc.
Bukwang’s representative said “Global Phase 2b study of MLR-1023 was approved by both US FDA and Korea MFDS, and patients screening is actively ongoing in both US and Korea.” And also mentioned that “current plan is to complete clinical trial by first half of 2019 and complete clinical study report (CSR) by second half of 2019.”
The anti-diabetic market is a huge market, generating about 350 billion KRW (about 310 million USD) annual sales globally. Bukwang’s representative commented “MLR-1023 is expected to make a large influence on the current market when it is successfully developed, because treatments with novel mechanism of action are leading the majority of market sales. By saying so, MLR-1023 has a new mechanism of action that is distinguished from those of currently used as anti-diabetic treatments.”
MLR-1023 is a new drug candidate that selectively activates Lyn kinase which is involved in insulin signaling and ultimately lowers the blood glucose level.
In addition to MLR-1023, Bukwang is strengthening R&D on innovative new drugs such as JM-010 (Levodopa induced dyskinesia). It is under preparation of initiating global clinical trial in second half of 2017 with efforts of reinforcing specialized researchers etc.
Representative also said, “We are planning to further devote our efforts to find the company’s growth engine by advancing into global markets through the development of innovative new drugs.”