ImmuneMed said it would present the results of a Covid-19 treatment study in Indonesia in the fourth quarter.

The company plans to apply for a phase 3 trial and emergency use approval apparently in Indonesia.

However, in Korea, the company is believed to have discontinued a local Covid-19 treatment trial and will have to modify its strategy to develop a Covid-19 drug, observers said.

On Thursday, ImmuneMed said it would disclose the outcome of the phase 2 study of Covid-19 treatment candidate, hzVSF-v13, in Indonesia in the fourth quarter.

The company has completed the administration of the drug and is deriving results, it said.

Global trials of hzVSF-v13 were ongoing in several countries, according to ImmuneMed.

“The trials of hzVSF-v13 are progressing in Italy, Russia, and Indonesia. Among them, the results will come first from the study in Indonesia,” an official at ImmuneMed said. “The results from the trials in Russia and Italy will be available two months after the presentation of the Indonesian trial results, and we plan to disclose the results of all the three trials in the fourth quarter.”

If global phase 2 results of the Covid-19 treatment candidate turn out positive, the company will consider a phase 3 trial, it said. It is also mulling an application for emergency use approval overseas.

However, unlike global trials that are progressing actively, the local study hit a snag. ImmuneMed obtained the regulatory nod for a local phase 2 study of hzVSF-v13 for Covid-19 treatment in December, but the company is still recruiting patients.

ImmuneMed said it was not easy to recruit Korean Covid-19 patients who can participate in the local trial.

The company had planned to evaluate hzVSF-v13’s efficacy and safety in Covid-19 patients with moderate to severe symptoms in the local phase 2 study.

We have completed discussions with a clinical trial institution and received a review from an institutional review board (IRB). But we have yet to recruit patients,” an official at ImmuneMed said. “The company is willing to proceed with the local trial, but the plan might not go as intended.”

ImmuneMed aims to go public on the Kosdaq market this year using the technology exception policy, which allows a company with superior technology to be listed with eased criteria. The company will be able to announce the technology evaluation results for an initial public offering as early as next week, it said.

“We applied for technology evaluation in May, and we expect the results will come out by Monday next week,” the ImmuneMed official said.

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