DAEJEON, South Korea and OSONG, South Korea, April 23, 2018 /PRNewswire/ -- Peptron
In addition, Peptron completed the issuance of a convertible bond that raised USD$24 million. The company will use the proceeds of the financing to operate a GMP manufacturing facility to produce SR-exenatide, advance a Phase 2 clinical trial of SR-exenatide in Parkinson's disease, and evaluate SR-exenatide for the treatment of Alzheimer's disease. On April 26 in Osong, Peptron will hold an opening ceremony for the GMP manufacturing facility.
"The support we have received from our NIH collaborators as well as our investors has allowed us to make significant progress in advancing a novel proprietary formulation of SR-exenatide to GMP manufacturing and Phase 2 clinical studies in Parkinson's disease," said Ho-Il Choi, PhD, Chief Executive Officer and Director of Peptron. "Moreover, our new facility enables us to manufacture additional sustained-release formulations of peptide and biologic drugs under GMP conditions to deliver further value in our collaborations with leading pharmaceutical and biotechnology companies."
Parkinson's disease, a chronic and progressive movement disorder, is the second most common neurodegenerative disease, affecting nearly one million people in the United States. A number of studies have proposed GLP-1 receptor agonists as a new treatment for neurodegenerative diseases including Parkinson's disease, Alzheimer's disease, Huntington's disease, traumatic brain injury, stroke, and peripheral neuropathy. However, drug delivery to the CNS across the blood-brain barrier has been a substantial hurdle for the treatment of CNS-related diseases.
"As experienced leaders in developing sustained-released therapeutics, the scientists at Peptron have enhanced the ability of SR-exenatide to cross the blood-brain barrier and deliver long-acting therapeutic effects of the neuroprotective peptide," said Dr. Choi. "Neurodegenerative disorders, such as Parkinson's and Alzheimer's diseases, remain a great unmet medical need for millions of people around the world, and we are dedicated to innovating and advancing therapeutics for these life-altering diseases."
About Peptron Inc.
Since its foundation in 1997, Peptron Inc. has developed the fundamental technologies for creating sustained-release formulations to develop patient-friendly peptide-based medicines with a high technological entrance barrier and excellent product competitiveness for the treatment of life-threatening and chronic diseases. Peptron's two most representative technologies, PeptrEXTM and SmartDepotTM, guide the transformation from the initial research process to the final medication development and successful commercialization phases. With more than 20 years of research and development experience, the team at Peptron has extensive know-how and is committed to innovation. From joint discovery and co-development to licensing and marketing, we collaborate with global pharmaceutical companies to develop medicines of value to patients, partners, and payers. Peptron is headquartered in Daejeon, Korea with GMP manufacturing facilities in Osong, Korea. For more information, please visit www.peptron.com.
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SOURCE Peptron Inc.
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