Pharmbio Korea said Wednesday that it has signed a licensing-in deal with BioSynectics to develop PBK-1819-2, an improved antifungal treatment.
|Pharmbio Korea CEO Nam Bong-gil (right) and BioSynectics CEO Kim Kab-sig hold up their licensing agreement at Pharmbio Korea headquarters in Yangjae-dong, southern Seoul, Tuesday.|
The company plans to use BioSynectics’ proprietary nano-conversion technology to reduce the size of the tablet to half the original drug level.
The nano-conversion technology also has other advantages such as improved bioavailability, dietary and post-diastolic deviation, and lower side effects.
Pharmbio is preparing a clinical trial for PBK-1819-2 with a goal to launch the product in the first half of 2021, while BioSynectics plans to actively promote talks with major pharmaceutical companies in the U.S., Europe, and China for additional license deals.
The global antifungal drug market, worth $13 billion, is growing steadily. The size of the domestic antifungal drug market is about 150 billion won ($132.3 million). According to data from the Korea Centers for Disease Control and Prevention, fungal infections are increasing every year around the world with a mortality rate of 22.4 percent.
The company expects the antifungal drugs market will continue to expand as the bone marrow transplantation is becoming more common and the opportunistic infection from chronic illness is also increasing with the aging population.
The global sales of the original drug that PBK-1819-2 is referencing were estimated at $750 million in 2018.