GemVax & KAEL said Thursday that it had signed a contract with Vetter Pharma, a global pharmaceutical manufacturer, to produce drugs for clinical trials of Alzheimer's disease.
Song Hyoung-gon, president of GemVax & KAEL, and Oskar Gold, vice-president of Vetter Pharma, signed the contract at Vetter's headquarters in Ravensburg, Germany, on Feb. 28, company officials said.
|GemVax President Song Hyung-gon (right) and Vetter Pharma Vice President Oskar Gold shake hands after signing the contract in Vetter’s headquarters in Ravensburg in Germany on Feb. 28.|
According to a report by the Pharmaceutical Research and Manufacturers of America (PhRMA) in 2015, the number of failed Alzheimer's pipelines from 1998 to 2014 reportedly totaled 123, while only four new drugs won the approval.
Also, the recent series of failure of clinical trials of the single-agent Alzheimer's disease treatment shows that the development of Alzheimer's disease treatment is never easy, the officials said. However, GV1001 is highly likely to succeed as a treatment for Alzheimer's disease because it inhibits the accumulation of amyloid beta and suppresses the condensation of tau protein, preventing inflammation in neurons, they added.
"We look forward to continuing our multi-faceted partnership in the future," said Vice President Oscar. "We will do our best to make sure that GemVax can successfully conduct clinical trials after receiving the Food and Drug Administration Investigational New Drug (FDA IND).”
GemVax President Song planned to conduct clinical trials, both here and abroad, last year, judging that GV1001 is effective against Alzheimer's disease.
“To strengthen the scientific basis for the treatment mechanism, the agreement with Vetter has been a necessary step in global clinical trials, particularly in the U.S., for winning approvals,” he said.
The company will select a contract research organization as soon as possible and will proceed to the next step, Song said, adding that the company will use all of its resources to complete the global clinical trial of Alzheimer's disease treatment.
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