Huons Global said Monday that it has received approval from the Ministry of Food and Drug Safety to conduct phase 1 and 3 clinical trials for Hutox, its botulinum toxin (BTX) for treating eye wrinkles.
The goal of the trial is to demonstrate the efficacy and safety of Hutox for adults who require moderate or severe treatment for eye wrinkles. The company plans to complete patient registration by the end of this year and obtain sales approval for the treatment by 2020.
“The company is running phase 3 clinical trials for Hutox in the field of treating forehead wrinkles in the U.S., and expect to receive sales approval in Korea next year,” Huons Global CEO Kim Wan-seop said. “We expect to gain synergies in the cosmetics area by acquiring the indication for eye wrinkles improvement in 2020, which will help the treatment to settle in the local market.”
The global botulinum toxin market is estimated at 4 trillion won ($3.5 billion), while the domestic market is worth 100 billion won. Also, as the therapeutic effects for BTX have expanded to eyelid seizures, strabismus and hyperhidrosis the demand for the treatment has been steadily increasing.
The company plans to increase indications in the beauty area before actively expanding into the therapeutic field and will use its various indications in obtaining competitiveness in both domestic and overseas markets.
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