Daewoong promotes the development of injectable hair loss tx

Signed a contract for joint development of long-lasting hair loss treatment with Inventage Lab

Strengthening the pipeline for various diseases through open innovation

Daewoong is developing long-lasting hair loss treatments for male in earnest through open innovation that introduces promising external technologies.

 

Daewoong (CEO Seng-Ho Jeon) signed a joint development contract with Inventage lab (CEO Ju Hee Kim), a drug delivery system platform venture company, on the 25th, and is conducting joint research, development and commercialization of long-lasting hair loss treatment drugs (IVL3001, IVL3002) owned by Inventage Lab.

 

IVL3001 & IVL3002 jointly developed by Daewoong as a pipeline are injection formulations administered once every 1 or 3 months.

 

Inventage Lab's drug delivery system (DDS) platform technology, IVL-PPF Microsphere® (IVL-Precision Particle Fabrication Microsphere), is equipped with hair loss treatment for male.

 

Finasteride is one of the most proven hair loss treatment ingredients approved by the US Food and Drug Administration (FDA), and has proven its efficacy and safety in preventing hair loss and is widely used.

 

The existing oral formulation of hair loss treatment for male should be taken once a day.

 

However, long-lasting injections are expected to improve patient compliance, improve hair loss treatment, and reduce the likelihood of side effects by minimizing the dose of drugs for the same efficacy.

 

IVL3001 (1 month long-lasting male pattern hair loss treatment) is scheduled to be released in 2024 with a non-clinical study scheduled to be conducted in early 2021, and IVL3002 (3-month-lasting male pattern hair loss treatment) is currently in non-clinical studies.

 

CEO Seng-Ho Jeon said, “Daewoong has a variety of R&D pipelines such as anticancer drugs, CNS, diabetes, and obesity based on long-term continuous injection production and research experience over the past 20 years.” and he added that it plans to accelerate the development of long-lasting hair loss treatments for male to advance into overseas markets based on Daewoong's excellent R&D capabilities and commercialization know-how.

 

Ju Hee Kim, CEO of Inventage Lab said, “It is a very valuable achievement to jointly develop Inventage Lab's long-lasting drug, which is developing innovative new platform technology in this field, with Daewoong, which has development expertise and sales network as a leader in domestic long-lasting injections, and we will do our best to provide better treatment options to 10 million hair loss patients in Korea through close cooperation with Daewoong and to make it a commercially successful drug in the global market.”