[THE INVESTOR] GC Pharma announced on Dec. 17 it has won approval from the local public health authority to carry out clinical tests on a drug that can be used to treat hemophilia.
The drug company, also known as Green Cross, said the Ministry of Food and Drug Safety has granted approval for testing of the MG1113 on people.
It marks the first time for a locally made treatment for hemophilia to be approved for clinical trials. Hemophilia is a condition in which a patient does not stop bleeding due to the lack of clotting factors.
The MG1113 can be used to revitalize clotting factors, which is different from previous methods that injected such factors to patients.
It can be used to treat both type A and B hemophilia with a smaller dose, the company added.
“We have begun efforts to develop new treatments for patients who have developed tolerance to existing drugs,” GC Pharma said, claiming the upcoming clinical tests will help the company develop its technologies further.
By Song Seung-hyun and newswires (firstname.lastname@example.org)