This article was published on March 5, 2025, at 12:54 p.m. on the ChosunBiz MoneyMove site.
Vivozon Pharmaceutical is seeking to attract investment worth 25 billion won for its non-narcotic painkiller Anaprazole (generic name: Opiranzerin). Vivozon Pharmaceutical is promoting the expansion of its formulation ahead of the domestic release of the local new drug 'Anaprazole', the 38th new drug in Korea.
According to investment banking (IB) industry sources on the 5th, Vivozon Pharmaceutical is considering attracting investments through a third-party allocation of new shares or the issuance of redeemable convertible preferred stock (RCPS). The secured funds are planned to be used for the commercialization of 'Anaprazole', international expansion, and company operating funds.
Vivozon Pharmaceutical has successfully developed the non-narcotic painkiller Anaprazole and received product approval from the Ministry of Food and Drug Safety at the end of last year. Anaprazole is an injectable drug used for the control of moderate to severe acute pain, such as surgery, accidents, or burns of third degree or higher. The company plans to release it domestically within the year.
Until now, narcotic painkillers (opioids) have been used for moderate to severe pain. Narcotic painkillers are highly addictive and carry significant risks of side effects. Additionally, there have been ongoing issues with the misuse of medical narcotics, raising the need for the development of alternatives.
To target the painkiller market, Vivozon Pharmaceutical is also developing an oral painkiller. Currently, it is conducting Phase 2 clinical trials in Korea for 90 patients suffering from post-herpetic neuralgia with an oral non-narcotic painkiller candidate substance 'VVZ-2471'. VVZ-2471 is a candidate substance further developed based on the mechanism of action of Anaprazole.
Both Anaprazole and VVZ-2471 work by hindering the transmission of pain signals generated in the periphery to the central nervous system, while also blocking the central nervous system from increasing sensitivity to pain, producing analgesic effects.
Vivozon Pharmaceutical is a KOSDAQ-listed corporation with a market capitalization of around 380 billion won. As a biotech company, it continues to report losses. In 2021, it recorded a loss of 71 billion won, and losses followed in 2022 (-40.7 billion won) and 2023 (-3.4 billion won). However, it turned to profit with a net income of 300 million won in the third quarter of last year, improving its cumulative loss to -1.2 billion won.
Vivozon Group is a biotech company founded by Chairman Lee Doo-hyun in 2008, specializing in the development of new drugs for pain and central nervous system diseases. In September 2020, it acquired Vivozon Pharmaceutical, formerly Inist Bio Pharmaceutical, through its subsidiary Vivozon Healthcare. Chairman Lee pursued a doctoral program in psychology and biopsychology at Korea University and participated in painkiller development while working as a researcher at U.S. companies like Amgen, Johnson & Johnson, and Eli Lilly from the late 1990s to the 2000s.