April 24, 2024

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[THE INVESTOR] Genexine said on April 13 that its long-acting diabetes drug candidate has got funding of 2.1 billion won (US$1.85 million) from the Korean government.

The Ministry of Health and Welfare will support clinical development of GX-G6, glucagon-like peptide-1 agonist for patients with type 2 diabetes, over the next two years.

The funds will be used for the treatment’s planned phase 1 clinical trials. In January, the company received approval from the Federal Institute for Drugs and Medical Devices, Germany’s medical regulator, to conduct the study in the country. GX-G6 is targeting both weekly and twice-monthly regimen compared to conventional daily therapeutics to enhance patient convenience.

“The clinical research is in the preparation stage to administer the medication after recruitment of 48 healthy volunteers in Germany,” an official at the firm told The Investor.

Following the government funding, Genexine has signed a deal worth 38 billion won with China’s Tasly Pharmaceutical to grant it rights for GX-G6.

According to the GlobalData report, the global type 2 diabetes pharmaceutical market in 2015 was US$31.2 billion, including both branded and generic drugs.

Meanwhile, another of its key drug candidate GX-H9, long-acting human growth hormone, has shown positive interim data from phase 2 clinical trials.

On April 5, the company said GX-H9, which is targeted for the treatment of adult and pediatric growth hormone deficiency, showed that it can provide a once-weekly alternative to current human growth hormone products that need daily dosage.

By Park Han-na (hnpark@heraldcorp.com)