April 20, 2024

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[THE INVESTOR] Korean drug maker Bukwang Pharma said on Jan. 29 that it expects to complete phase 2b clinical trials of its drug candidate for type 2 diabetes by the end of this year.

The potential drug -- MLR-1023 is an oral insulin signal potentiating agent, which is designed to lower blood glucose level by activating the Lyn kinase that controls insulin signaling pathways. It has achieved nearly 50 percent patient enrollment, or 196 people out of 400, in the phase 2b clinical program, since it initiated the studies in September last year, according to the company. 

“We expect to wrap up the studies within this year as the development has been making progress ahead of our planned schedule,” a Bukwang Pharma official said.

The study follows a positive phase 2a clinical trials that were completed in 2016, with the results showing a reduction of glucose and favorable effects on weight.

In 2013, the Korean firm licensed MLR-1023 from US-based Melior Pharmaceuticals for the development and commercialization in Asian countries excluding Japan.

Diabetes affects more than 422 million people around the world and the market is worth US$31 billion. Diabetes type 2 accounts for 90 percent of all diagnosed cases of diabetes in adults.

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