Licensing Agreement with Pharmbio Korea
Pharmbio Korea to develop antifungal drug with BioSynectics’ nanotechnology - Korea Biomedical Review-
Pharmbio Korea said Wednesday that it has signed a licensing-in deal with BioSynectics to develop PBK-1819-2, an improved antifungal treatment. The company plans to use BioSynectics’ proprietary nano-conversion technology to reduce the size of the tablet to half the original drug level. The nano-conversion technology also has other advantages such as improved bioavailability, dietary and post-diastolic deviation, and lower side effects.
Pharmbio is preparing a clinical trial for PBK-1819-2 with a goal to launch the product in the first half of 2021, while BioSynectics plans to actively promote talks with major pharmaceutical companies in the U.S., Europe, and China for additional license deals.
The global antifungal drug market, worth $13 billion, is growing steadily. The size of the domestic antifungal drug market is about 150 billion won ($132.3 million). According to data from the Korea Centers for Disease Control and Prevention, fungal infections are increasing every year around the world with a mortality rate of 22.4 percent.
The company expects the antifungal drugs market will continue to expand as the bone marrow transplantation is becoming more common and the opportunistic infection from chronic illness is also increasing with the aging population.
The global sales of the original drug that PBK-1819-2 is referencing were estimated at $750 million in 2018.
[Published 13. March, 2019]
Pharmbio Korea was founded in 1999 by Mr. Bong-Kil Nam. With innovative marketing strategies and constructive partnership with world renowned companies, Pharmbio Korea has continued expanding its scope of services and growing its revenue by 30% (5 year CAGR).
The company developed the first treatment of urinary stone in Korea, UROCITRA. The company is committed to developing original pharmaceutical products with improved efficacy, safety, administration, and compliance of existing products. This is done by re-investing 40% of its revenue in research and development for new pharmaceutical products every year.