Bukwang Pharmaceutical said Tuesday that it has gathered global researchers to hold a meeting ahead of its phase 2 clinical trials of JM-010, a treatment for levodopa-induced dyskinesia (LID) in Parkinson's patients, in Europe.

The meeting, which will take place in Frankfurt, Germany, from April 25 to 26, will have more than 70 researchers and related officials from three European countries, including Germany, and will discuss phase 2 clinical trial plan and specific directions for JM-010.

The drug, developed by Contera Pharma, a Denmark bio-venture acquired by Bukwang in 2014, is a new drug candidate that treats LID, a disease that many Parkinson's disease patients suffer from after long-term administration of levodopa, a standard treatment for the illness.

The substance has also received an orphan drug designation in Korea in January 2016, with the company confirming its efficacy and safety after completing phase 1 and 2a clinical trial. The company is developing the best in the class of LID treatment.

According to the company, the related U.S. market is around 2 trillion won ($1.7 billion), and no drug has yet been released in Europe.

“We will start recruiting patients in the first half of this year and confirm the results by 2021 at the latest,” a company official said. “If the U.S. clinical trial launch goes as planned, JM-010 development is expected to accelerate further and will soon become the essential treatment for all Parkinson's patients.”