Huons said Tuesday it has received approval from the Ministry of Food and Drug Safety to go ahead with domestic phase 3 clinical trials for HU007, a nanocomposite eye drops used for treating dry eye syndrome.
Dry eye syndrome is a common eye condition in which the eye surface gets damaged due to insufficient tear production or excessive tear evaporation. The number of patients suffering from the disorder is on the rise because of the increase of computers, smart devices, air conditioners, and heaters.
Huons 휴온스 plans to start phase 3 clinical trials by the end of this year and plans to get sales approval from the ministry by 2019.
The treatment has proved its safety and efficacy on anti-tear film protection and anti-inflammatory effect for dry eye syndrome after completing phase 2 clinical trials in April of last year.
Currently, anti-inflammatory cyclosporine monotherapy and eye-protecting hyaluronic acid monotherapy are the typical treatments for dry eye syndrome. However, Huons’ nanocomposite eye drops decreases the use of cyclosporine compared to the existing therapies, while improving the convenience of the medication by giving superior tear film protection and anti-inflammatory effects.
“The company plans to complete the phase 3 clinical trials on its nanocomposite eye drops, which will become the new force that drives the dry eye syndrome market,” said Um Ki-han 엄기안, CEO of Huons.
The dry eye syndrome global market is expected to grow to about 5.2 trillion won ($4.6 billion) in 2024, recording an annual growth rate of 7.9 percent. In the domestic market, the number of patients has doubled in the past 10 years, according to a report published by Health Insurance Review & Assessment Service (HIRA).
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