Icure Pharmaceutical, a company specializing in drug delivery systems, has set about to expand oral incrementally modified drug (IMD) pipelines.

The company said Wednesday that it had signed a technology transfer agreement with Hanall Biopharma on IMD for gastroesophageal reflux disease (GERD). Under the contract, Icure secures rights to develop, manufacture and sell GERD IMD under development by Hanall Biopharma.

According to Icure, a two-drug compound of proton pump inhibitor (PPI) mixed with antacid is being actively developed and sold in the PPI market. However, the company’s new technology features a three-drug compound mixing PPI ingredients with two antacids and is expected to show an immediate gastric acid neutralization effect.

The company also expects its new product to lead the market by improving administrative convenience and reducing the tablet size.

Icure said it aims to lead the GERD IMD market by 2027 by applying for a phase 1 clinical trial of its IMD in 2023 and releasing the drug on the market in 2024. In addition, it is preparing for cGMP at its plant in Wanju, North Jeolla Province, expecting its IMD to enter the global market.

Icure also conducts the ethical drug (ETC) business by obtaining approval for more than 110 oral prescription-based medicines and gradually expanding oral drug lines in stages to develop and manufacture oral IMDs.

According to market data, the global GERD market is estimated at around 21 trillion won ($16 billion).