Daewoong Pharmaceutical, a South Korea-based pharmaceutical company developing various kinds of medical drugs, announced it has spun off a new biotech company, iN Therapeutics, to speed up the development and commercialization of its ion channel drug pipelines.
In addition to the ion channel drug development platform, Daewoong Pharmaceutical also transferred several early-stage ion channel assets to iN Therapeutics. These assets include first-in-class Nav1.7 non-opioid analgesic DWP17061, as well as hearing loss and brain disease therapies.
In preclinical trials, DWP17061 showed excellent efficacy compared to non-steroidal anti-inflammatory drugs, and the company plans to start administering the drug to healthy people within this year.
Photo from Pexels