Ahngook Pharmaceuticals said Tuesday it has secured the government’s support to develop AG-B1512, a growth hormone deficiency medication.

The Korea Health Industry Development _{한국보건산업진흥원} has selected AG-B1512 for its project to support the development of new drugs through nonclinical and clinical trials, the company said.

Ahngook Pharmaceutical _안국약품 will receive 1.05 billion won out of the total 1.76 billion won ($1.41 million) expected for the two-year research and hopes to win the approval for Phase 1 clinical trials in advanced countries by next year.

According to the company, AG-B1512 showed 20 to 40 times longer half-life compared to first-generation growth hormone (IGF-1) in an animal trial.

It also confirmed that levels of human insulin-like growth factor-1 (IGF-1), a surrogate marker that stimulates secretion by growth hormone, are maintained until 20 days after single administration.

The company expects to have similar efficacy as the first-generation growth hormone with just one or two administrations a month.