Humedix said Monday that it has received sales approval for Humia, an osteoarthritis treatment, from the Ministry of Food and Drug Safety.
Humia combines a high-purity hyaluronic acid production technology with the company’s proprietary biopolymer application biotechnology. The treatment is similar to normal joint synovial fluid and has sustained efficacy for six months with only one administration.
By reducing the dosage of the drug, the company has dramatically improved the convenience of patients having to visit hospitals regularly.
The company aims to receive insurance benefits for the drug by the first half of this year and quickly settle in the local market. To reach its goals, the company signed an agreement to supply, sell and license Humia with Huons and Shin Poong Pharmaceutical in January of this year.
Humedix concluded a technology transfer contract with Haibin, a Chinese pharmaceutical company, in 2015 and plans to advance overseas by focusing on Southeast Asia and South American countries such as Vietnam and Mexico.
It will also hold detailed discussions with leading pharmaceutical companies in the U.S., Europe, the Middle East, and other countries, which have shown great interest since the clinical phase of Humia.
“Humia, which applied the biomedical application biotechnology of Humedix, will soon be available in the domestic market shortly,” Humedix CEO Chung Koo-wan said. “We will do our best to enter the global osteoarthritis hyaluronic acid treatment market estimated to be 25 trillion won ($22.1 billion).”