Daewoong Pharmaceutical Subsidiary I&Therapeutics Signs Agreement for Ocular Pain Treatment Development View original image

[Asia Economy Reporter Seo So-jeong] Daewoong Pharmaceutical's subsidiary I&Therapeutics (CEO Park Jong-deok) announced on the 17th that it has signed a joint research and development agreement (MOU) with GL PharmTech (CEO Wang Hoon-sik), a company specializing in the development of improved new drugs, for the development of a new drug for ocular pain treatment.


I&Therapeutics plans to develop an ocular pain treatment in the form of eye drops by combining its ion channel platform technology with GL PharmTech's formulation development technology.


I&Therapeutics will prepare non-clinical trials including efficacy tests, while GL PharmTech will be responsible for developing the eye drop formulation. Both companies aim to complete the formulation development and begin non-clinical trials by next year.


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Park Jong-deok, CEO of I&Therapeutics, said, "By combining I&Therapeutics' ion channel platform technology with GL PharmTech's formulation development technology, we will develop an ocular pain treatment with excellent efficacy," adding, "We hope this collaboration will improve the quality of life for patients suffering from ocular pain."


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