SEOUL,
South Korea, April 25,
2024 /CNW/ -- Onconic Therapeutics, a leading
biotechnology company in Korea, today announced that the Ministry
of Food and Drug Safety (MFDS) of Korea has approved JAQBO
(zastaprazan citrate) for the treatment of erosive gastroesophageal
reflux disease (GERD) in adults.
JAQBO is a next-generation potassium competitive blocker (P-CAB)
expected to become the new standard treatment in the market for
gastric acid related diseases. JAQBO directly binds to proton pumps
in a competitive manner to reduce gastric acid secretion. This
novel mechanism allows quick onset of action regardless of the
acidity level in the stomach, offering immediate symptom relief. In
addition, longer duration of acid suppression with no food effect
could provide a new paradigm in GERD treatment.
The MFDS approval of JAQBO is based on comprehensive results
including the Phase III clinical trial across 28 sites in Korea.
The study demonstrated JAQBO's effectiveness on erosive
esophagitis, with a healing rate of 97.9% after 8 weeks of
treatment. These results were presented at the United European
Gastroenterology Week in October
2023.
Onconic Therapeutics aims to launch JAQBO this year after
listing for National Healthcare Insurance Reimbursement in Korea.
Domestic sales of JAQBO will be handled by Jeil Pharmaceutical,
Onconic Therapeutics's parent company.
In March 2023, JAQBO was licensed
out to Livzon Pharmaceutical Group, the leading seller of PPIs in
China for development and
commercialization, in a deal value of $127.5
million for Greater
China.
Onconic Therapeutics is committed to enhancing gastrointestinal
treatment and improving patient outcomes by expanding additional
indications.
About Onconic Therapeutics
Onconic Therapeutics is a Korean leader in developing novel
drugs. With a focus on innovative research and clinical excellence,
Onconic Therapeutics is dedicated to improving patient outcomes and
providing quality healthcare solutions for cancer and
gastrointestinal disorders.
Forward-Looking Statement
This press release contains forward-looking statements that are
based on our current expectations, forecasts, and assumptions.
These statements involve risks and uncertainties that could cause
actual results to differ materially from those anticipated or
projected. Forward-looking statements include statements about our
future financial performance, business strategy, plans and
objectives. Factors that could cause such differences include but
are not limited to economic conditions, market demand, competitive
pressures, and regulatory changes. We undertake no obligation to
update any forward-looking statements to reflect events or
circumstances after the date of this press release.
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SOURCE Onconic Therapeutics