ViroMed is making more progress with its gene therapy, having registered the drug’s compound “donaperminogene seltoplasmid” with the World Health Organization and in the U.S., the company said Thursday.
The official registry of the drug’s international nonproprietary name and U.S.- adopted name moved the Korean biotech company one step closer to global market entry, the company said.
“ViroMed is systematically working on the global commercialization of VM202 thanks to clinical trials underway in the United States and the listing of the drug’s compound,” a company official said.
The novel gene therapy contains the human hepatocyte growth factor (HGF) gene and can produce two isoforms of HGF proteins naturally found in the human body. When injected into the cardiac muscles, it induces new blood vessel formation and cell regeneration, according to ViroMed.
The Korean biotech company has been developing the DNA-based drug for four indications: diabetic neuropathy, diabetic ischemic foot ulcers, amyotrophic lateral sclerosis (Lou Gehrig’s disease), and ischemic heart disease.
The market value of ViroMed shares, headquartered in Seoul with U.S. branches in Atlanta and San Francisco, stood at about 1.8 trillion won ($1.58 billion), ranking ninth among drugmakers in the tech-heavy KOSDAQ market as of last month.
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