MedicoX Affiliate MeCoxCureMed Completes 3 Billion KRW Capital Increase for Bojanix and MekVentu Clinical Trials

[Asia Economy Reporter Jang Hyowon] MedicoX, a KOSDAQ-listed company and the largest shareholder of new drug development specialist Mecox Curemed, announced on the 29th that the payment for the recently conducted 3 billion KRW third-party allotment capital increase has been fully completed.

The capital increase, totaling 3 billion KRW, will be invested in the clinical trials of Bozanics, a new drug pipeline developed in-house by Mecox Curemed, currently in Phase 2, and Mecbentu, which is entering Phase 1 clinical trials.

Mecox Curemed has completed detailed planning and selection of institutions related to the Phase 2 clinical trial of Bozanics and the Phase 1 clinical trial of Mecbentu, including clinical trial hospitals, CRO companies, and pharmaceutical manufacturers. With the funding secured, the company plans to promptly commence clinical research.

Bozanics, which is about to enter Phase 2 clinical trials, is a natural product-based arthritis treatment developed in-house. It completed Phase 1 clinical trials last October, confirming tolerability and safety without any adverse reactions in all trial participants.

Mecbentu, entering Phase 1 clinical trials as an oral administration new drug, is an oral anticancer agent. Mecbentu is a route-of-administration changed drug developed from the injectable Bendamustine into an oral form. It applies drug inclusion technology using cyclodextrin, one of Mecox Curemed’s drug delivery technology platforms.

A Mecox Curemed official stated, “Since the clinical plans for each new drug pipeline and the selection of related institutions have all been completed, we plan to proceed with clinical trials swiftly along with securing research funding.”

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