SEOUL, South Korea, Aug. 20, 2018 /PRNewswire/ -- ViroMed (084990:KS) announced its acquisition of a plasmid DNA production
With CMC (Chemistry, Manufacturing, and Controls) being an important part of the Biologics License Application process, and often the reason for delay in market approval for a new drug in the US, the acquisition comes as a significant milestone for a company conducting late-stage development. Production is considered particularly an important issue in the case of plasmid DNA-based gene medicines as they have never been approved and commercialized as a drug for humans. Securing a manufacturing site is also expected to be a boost in the company's bargaining power for potential out-licensing and marketing partnership deals.
The facility in San Diego is equipped with a 500 L fermenter, cell culture lab and QC test lab, and has extra space for future expansion, making it an ideal site for both biopharmaceutical R&D and commercial-scale plasmid DNA production. With the aim to initiate first test runs within this year and GMP production in the first half of 2019, the company is securing key personnel necessary for the facility operation.
Anticipating the acquisition will add even greater value to the company and its lead product, CEO Sunyoung Kim, DPhil, commented, "We are very excited to secure a plasmid DNA production facility, which has been a major issue for the company. Through the acquisition, we expect to not only maximize the value of VM202 but also create additional business opportunities as we move forward. Taking a step further from an R&D-focused company, it is our vision to become a biopharmaceutical company in our own right that covers all stages of new drug development including R&D, production and quality management. ViroMed is currently the only company conducting Phase IIIs in the US involving plasmid DNA, and we are pleased to be able to demonstrate once again that ViroMed is a global leader in the field of plasmid DNA gene therapy."
VM202, donaperminogene seltoplasmid, is a proprietary, non-viral, potentially regenerative plasmid DNA gene therapy. VM202 is a novel genomic cDNA hybrid human hepatocyte growth factor (HGF) gene with a novel and proprietary coding sequence (HGF-X7) expressing two isoforms needed for optimal therapeutic benefits. Because there is no change in the coding region of the HGF gene, HGF proteins generated from VM202 are identical to wild-type human HGF proteins.
When introduced into the body, HGF protein is expressed from VM202 and induces the formation of new blood vessels, suppresses levels of selective pain mediators, supports regeneration/repair of damaged peripheral nerves, and ameliorates atrophic condition of skeletal muscle.
About ViroMed Co., Ltd. and VM BioPharma
VM BioPharma is the US division of ViroMed Co., Ltd. which develops new and innovative biopharmaceuticals based upon its multiple proprietary scientific platform technologies to meet unmet medical needs. Currently, the company is actively focusing on developing its lead product, plasmid DNA-based drug VM202, at various clinical stages in the U.S., Korea, and China, for cardiovascular and neurological diseases, including PDPN, diabetic foot ulcer (DFU), amyotrophic lateral sclerosis (ALS) and ischemic heart disease (IHD). Visit viromed21.com.
Cathy Carroll, PhD, BSPharmDirector, Strategic Business Developmentcathyc@viromed.co.kr816.337.9962
This press release contains forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans," "will," "outlook" and similar expressions. Forward-looking statements are based on management's current plans, estimates, assumptions, and projections, and speak only as of the date they are made. ViroMed undertakes no obligation to update any forward-looking statement considering new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond the control of the company. Actual results or outcomes may differ materially from those implied by the forward-looking statements because of the impact of a number of factors, many of which are made public in more detail through the company's corporate public announcement in compliance with the Financial Investment Services and Capital Markets Act of the Republic of Korea. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.
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