Chong Kun Dang pharmaceutical(185750) will work with U.S. ophthalmic disease specialist drugmaker Kiora Pharmaceuticals to develop and commercialize in Korea a new drug candidate to treat rare inherited retinal diseases.
Chong Kun Dang pharmaceutical said on the 21st that it signed a license agreement with Kiora for domestic ophthalmic indication development and commercialization of the retinal disease drug candidate "KIO-301."
Under the deal, Chong Kun Dang pharmaceutical will handle everything from domestic clinical development to approval and commercialization of KIO-301. Kiora will receive milestones tied to development and approval stages and royalties from domestic sales.
KIO-301 is a small-molecule new drug candidate being developed with retinitis pigmentosa as the lead indication, a rare inherited retinal disease. Retinitis pigmentosa progressively damages light-sensing photoreceptors, narrowing the field of vision and reducing visual acuity. The domestic patient population is estimated at more than 10,000.
Many treatments under development target specific gene mutations, but KIO-301 is designed to act regardless of gene mutation, which sets it apart.
KIO-301 aims to restore visual function by granting a kind of "light-sensing function" to retinal ganglion cells that remain in the retina even after photoreceptors are damaged. It is a new approach that enables transmission of visual signals by using remaining retinal cells in patients whose photoreceptors have degenerated.
While developing KIO-301 as a treatment for retinitis pigmentosa, Kiora is also pushing to expand indications to other inherited retinal diseases such as choroideremia and Stargardt disease.
With this agreement, Kiora expands the KIO-301 development and commercialization network to Korea, following the United States, Europe, Japan and China. The company is also developing "KIO-104," a drug candidate for macular edema caused by retinal inflammation, in addition to KIO-301.
Kim Young-ju, CEO of Chong Kun Dang pharmaceutical, said, "KIO-301 is a new-mechanism drug candidate not limited to specific gene mutations," and added, "Based on Chong Kun Dang pharmaceutical's accumulated ophthalmology expertise and clinical and regulatory capabilities, we will work with Kiora and global partners to advance domestic development."
Brian M. Strem, Kiora's representative director and CEO, said, "We will work with Chong Kun Dang pharmaceutical to efficiently advance KIO-301's global phase 3 trial and provide new treatment possibilities to domestic retinitis pigmentosa patients."