À̹ÌÁö È®´ë [Photo by Withus Pharmaceutical Co.]
South Korea¡¯s Withus Pharmaceutical Co. said on Monday it has signed a partnership agreement with biotech firm Inventage Lab for exclusive contract production of the latter¡¯s investigative hair loss treatment.
Withus Pharm set to go public next month said it will have an exclusive right to production of a long-acting hair loss injectable agent developed on Inventage¡¯s microsphere-based DDS technology for clinical trials in Korea and for commercialization worldwide. Withus Pharm is building a dedicated production line at its Anseong site in Korea.
The new injectable agent features minimized side effects and a more convenient dosing schedule of every month or every three months compared to existing therapies.
Withus Pharm has operated as a CMO for multiple pharmaceutical companies and the latest deal means its reach stretches to injectable formulations beyond oral prescription meds. The company said it anticipates enhanced expertise and revenue with the transaction.
Inventage Lab is a local venture firm specialized in drug delivery improvement on its proprietary microsphere-based DDS platform. A preclinical test of its long-acting hair loss injectable agent was already completed, and a phase 1 trial is due within this year.
Withus Pharm is on path to join the Kosdaq in July, hoping to raise some 25 billion won ($20.4 million) from the IPO.
Book building is scheduled to take place on July 18-19 with public subscription on July 25-26. Lead managers are NH Investment & Securities and Samsung Securities.
By Pulse
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