[Special Stock] Shinpung Pharmaceutical Discusses COVID-19 Treatment R&D with US Drug Repurposing Expert

[Asia Economy Reporter Hyunseok Yoo] Shinpung Pharmaceutical is surging. It appears that news of discussions with Dr. Sean Atkins, a U.S. drug repurposing expert, regarding the research and development of a treatment for the novel coronavirus infection (COVID-19) has had an impact.

As of 10:52 AM on the 26th, Shinpung Pharmaceutical was trading at 11,800 KRW, up 22.79% (2,190 KRW) compared to the previous trading day.

On the previous day, it was reported that Dr. Sean Atkins held an online meeting with Shinpung Pharmaceutical's research team on the 24th (local time). Dr. Sean Atkins shared unpublished data on pyronaridine with Shinpung Pharmaceutical. After reviewing the unpublished data, Shinpung Pharmaceutical's research team reportedly gave a positive evaluation.

Dr. Sean Atkins stated that if collaboration with Shinpung Pharmaceutical proceeds, they plan to submit documents to regulatory agencies in various countries and conduct clinical trials. Dr. Sean Atkins said, "Our company is researching the COVID-19 treatment effects based on the pyronaridine component at two laboratories. One of them is expected to produce specific results soon," adding, "We hope Shinpung Pharmaceutical will also verify the efficacy at the company level."

Dr. Sean Atkins is known to have repeatedly proposed collaboration to Shinpung Pharmaceutical, claiming the COVID-19 treatment effects of the malaria treatment drug 'Piramex' (active ingredient pyronaridine).

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