Daewoong Pharmaceutical said Thursday that its botulinum toxin product Nabota (Juveau in the U.S.) was patented as a neurotoxin composition for treating headaches through its U.S. partner, AEON Biopharma, with exclusive rights until 2041.

The patent obtained from the U.S. Patent and Trademark Office (USPTO) recognizes AEON Biopharma's ability to reduce the number of doses and change the location of administration compared to existing botulinum toxin formulations, thus improving the ease of use and reducing side effects.

The patent is expected to support the ongoing phase 2 clinical trials in the U.S. for the treatment of episodic and chronic migraine, said a Daewoong official.

The company is also targeting the global botulinum toxin market by securing approvals for various therapeutic indications, including episodic and chronic migraine, cervical dystonia, gastroparesis, and post-traumatic stress disorder (PTSD). 

According to Fortune Business Insight, the global botulinum toxin market was worth $6.5 billion last year, of which 53 percent was in the therapeutic market and the rest in the aesthetic market. 

"With this patent, we are looking forward to gaining the world's second approval for migraine treatment," Daewoong Pharmaceutical Vice President Park Sung-soo said. "We will work closely with AEON Biopharma to achieve rapid market entry for Nabota in this therapeutic indication."

AEON Biopharma and Daewoong Pharmaceutical signed a partnership agreement in 2019 for the global therapeutic business of Nabota. Accordingly, AEON Biopharma expects to announce phase 2 results for the episodic migraine indication later this year and phase 2 results for the chronic migraine indication next year. 

Additionally, the company plans to exit phase 2 in the cervical dystonia indication this year and enter phase 3 next year. 

Meanwhile, the gastroparesis indication has submitted a phase 2 IND, and the post-traumatic stress disorder (PTSD) indication is in preclinical development.