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March 19, 2024

PharmAbcine’s anti-angiogenic therapy may soon enter clinical trials in US

PUBLISHED : January 23, 2018 - 15:35

UPDATED : January 23, 2018 - 15:35

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[THE INVESTOR] Korea’s biotech firm PharmAbcine said on Jan. 23 it has completed a pre-Investigational New Drug meeting with the US Food and Drug Administration for its lead candidate TTAC0001, paving the way for its phase 2 study launch in the US.

TTAC0001 is a monoclonal antibody against vascular endothelial growth factor receptor 2, or VEGFR-2, which is being studied as a treatment for several cancer types and glioblastoma. 

PharmAbcine, in which Novartis holds a 21 percent stake, completed phase 2a clinical trials of the potential anti-angiogenic treatment in patients with recurrent glioblastoma in Australia, and is planning to soon announce the results.

“We had a pre-IND meeting with the FDA. In the US clinical trials, TTAC0001 may be tested for other indications rather than glioblastoma,” a PharmAbcine official told The Investor, indicating that it could treat a wider range of diseases.

Since it was established in 2008, PharmaAbcine has been actively raising funds for drug development. It has attracted a total of 40 billion won (US$37.37 million) from investors including Novartis, Green Cross and Yuhan. The latest investment was from Shinhan Investment by purchasing 166,000 common shares in PharmaAbcine for 4 billion won

It also plans to float its shares on the tech-laden KOSDAQ market later this year after two failed attempts. Its application for preliminary review for the IPO was denied in 2016, after withdrawing its application in 2015.

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

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