Kolon Life Science wins li­cense for gene ther­apy drug

BioSpectrum (Asia) - - Company News -

Korea based Kolon Life Science has won a li­cense to sell the na­tion’s first gene ther­apy drug for os­teoarthri­tis, a de­gen­er­a­tive joint dis­ease.

The Min­istry of Food and Drug Safety has per­mit­ted the sales of INVOSSA for which Kolon Group has in­vested more than $97 mil­lion over many years. This is the com­pany’s first drug ap­proved by the min­istry. The new drug will be avail­able for sale as early as Septem­ber, with the com­pany plan­ning to con­duct clin­i­cal tests in the United States at the end of the year. It also mulls clin­i­cal test­ing in Ja­pan.

The price is ex­pected to range from 4 mil­lion South Korean Won (SKW) to 5 mil­lion SKW per treat­ment. The global de­gen­er­a­tive joint dis­ease treat­ment mar­ket was worth 45 tril­lion SKW as of last year, with the fig­ure in Korea reach­ing 1 tril­lion SKW. The com­pany ex­pects the new drug to serve as a key profit booster here and abroad. INVOSSA will be used for pa­tients with mod­er­ate os­teoarthri­tis of the knee whose pain per­sists even af­ter con­ven­tional drug and phys­i­cal ther­apy treat­ment. The com­pany es­ti­mates more than 400 mil­lion pa­tients suf­fer from de­gen­er­a­tive joint dis­ease across the globe, and ex­pects the num­ber to rise steadily down the road amid the ag­ing pop­u­la­tion. Kolon Life Science plans to in­vest an ad­di­tional 190 bil­lion SKW in ex­pand­ing its man­u­fac­tur­ing fa­cil­i­ties and clin­i­cal lab­o­ra­tory test­ing.

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