Jongkundang has signed a license agreement with Kiora Pharmaceuticals, a U.S. company specializing in eye diseases, for the domestic development and commercialization of the candidate treatment 'KIO-301' for rare genetic retinal diseases.
On August 21, Jongkundang announced that it has entered into a license agreement with Kiora for the domestic development and commercialization of the retinal disease drug candidate 'KIO-301.' Under this agreement, Jongkundang will be responsible for the clinical development, approval, and sales of KIO-301 in South Korea. Kiora will receive an upfront payment, milestone payments at various development stages, and royalties from domestic sales.
The two companies plan to efficiently coordinate a single global Phase 3 clinical trial and explore ways to enhance patient access in South Korea. Kiora has evaluated this agreement as completing its major market network, which includes partnerships in the U.S., Europe, Japan, and China.
KIO-301 is a low-molecular-weight 'molecular photoswitch' candidate treatment primarily being developed for retinitis pigmentosa (RP). RP is a rare genetic disease characterized by the gradual deterioration of photoreceptors in the retina, leading to narrowed vision and decreased eyesight. It is estimated that there are over 10,000 patients in South Korea.
Unlike existing RP treatments that focus on specific gene mutations, KIO-301 is designed to work regardless of the type of gene mutation. It employs a new mechanism that restores the 'light-sensing function' to retinal ganglion cells (RGCs) that remain in the retina after photoreceptor degeneration, thereby recovering visual signal transmission.
Kiora is also pursuing a strategy to expand indications for other genetic retinal diseases, such as choroideremia and Stargardt disease, in addition to RP.
Kim Young-joo, CEO of Jongkundang, stated, "KIO-301 is a new drug candidate with a mechanism that is not limited to specific gene mutations. We will leverage Jongkundang's accumulated expertise in the ophthalmology field and our clinical and regulatory capabilities to collaborate with Kiora and global partners for domestic development."
Brian M. Strem, CEO of Kiora, said, "By collaborating with Jongkundang, we aim to efficiently advance the global Phase 3 trial of KIO-301 and provide new treatment possibilities for RP patients in South Korea."
* This article has been translated by AI.
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