South Korean pharmaceutical firm SK Biopharmaceuticals declared lead drug, YKP3089, from its medication development program for treatment of refractory epilepsy, is awarded funding coming from the Korea Drug Development Fund to aid clinical development for the following three years. A contract between the two parties appeared to be signed on February 22nd. The Korea Drug Development Fund found in September 2011 having assets of $1 billion to produce a minimum of ten new drugs by 2019.
An association of three health-related Korean ministries, the Ministry of Knowledge Economy, the Ministry of Education, Science and Technology, as well as the Ministry of Health and Welfare. YKP3089 will be the lead molecule in SK Biopharmaceuticals pipeline. The funding aid acquired will probably be used to support global late Phase 2 medical trials in refractory epilepsy.
Dr. Jeong Woo Cho, Vice President for SK Biopharmaceuticals Drug Development Business, said, "The choice of YKP3089 by the Korean Drug Development Fund is definitely a reputation of its potential to turn into a global blockbuster. If our Phase 2 and Phase 3 medical trials go conveniently, we are able to market the medication in 2017."
"Since the drug has shown marked performance in decreasing pain in a number of animal models of neuropathic pain likewise in epilepsy, we are going to be conducting accompanying Phase 2 trials for the additional indication. The globally neuropathic pain industry is $2.5 billion of size, of course if YKP3089 shows performance numerous types of this particularly pain, the value of a typical drug will probably be superb," added Dr. Cho.
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