Myung In Pharm said on the 26th that it has secured the rights to develop, obtain approval for, and commercialize Pharma Two B (P2B) of Israel's Parkinson's disease treatment Paxloria capsules.
Myung In Pharm previously made an equity investment in P2B in 2021, but P2B faced bankruptcy as its liability increased.
Myung In Pharm participated in the bid for the transfer of ownership to acquire all assets related to Paxloria capsules from P2B and was confirmed as the final successful bidder. Accordingly, all rights to the acquisition assets of Paxloria capsules were consolidated under Myung In Pharm.
The company said, "The global intellectual property (IP) of Paxloria capsules has clearly been attributed to Myung In Pharm," and "all authority over three patents registered in 15 countries, including the United States, the United Kingdom, Germany, France, Spain, Italy, Korea, Japan, and China, will be transferred to Myung In Pharm." Myung In Pharm also holds the rights to key assets covering patents, trademarks, and data registered in Israel and the United States.
Paxloria capsules are a pellet formulation manufactured by coating, respectively, rasagiline and pramipexole, the key ingredients for treating Parkinson's disease, with a sustained-release layer. Sustained-release coating is a formulation technology that controls the drug so it does not release all at once in the body but instead releases slowly over a set period. The pellet (small pill or hemispherical granule) formulation precisely controls the drug release pattern, improving absorption efficiency and minimizing side effects.
Myung In Pharm has applied to the Ministery of Food and Drug Safety for product approval for Paxloria capsules. After completing domestic approval, the company plans to produce finished goods at the second dedicated pellet plant in Balan, now under construction, and export them to the global market.
Chief Executive Officer Lee Haeng-myeong of Myung In Pharm said, "With the final approval of the Israeli court, uncertainty over the rights relationships has been clearly resolved, and the IP and core intangible assets have been consolidated into a single rights system of Myung In Pharm." Lee said, "Based on this, we will accelerate the global business of Paxloria capsules and move quickly to conclude overseas partnerships and technology transfer (license-out) agreements."