Onconic Therapeutics partners with Jeil Pharm, Dong-A ST for Jaqbo sale
Onconic Therapeutics said it entered into a strategic partnership with Jeil Pharmaceutical and Dong-A ST for the co-promotion of their newly developed P-CAB (Potassium-Competitive Acid Blocker) drug, Jaqbo, in Korea. Onconic Therapeutics is a subsidiary of Jeil Pharmaceutical.
Jaqbo is a next-generation P-CAB medication for the treatment of gastroesophageal reflux disease (GERD).
This collaboration marks the first partnership between Jeil Pharmaceutical and Dong-A ST. Under the agreement, the two companies will jointly handle the marketing and sales activities of Jaqbo across all hospitals and clinics nationwide.
Dong-A ST brings extensive experience in the gastrointestinal market and combined with Jeil’s robust sales and marketing prowess in gastrointestinal therapeutics, the two companies expect to create significant synergy.
Jaqbo, which received its approval as Korea’s 37th new drug in April, addresses several limitations of existing proton pump inhibitors (PPI) therapies. Traditional PPI medications are known for their delayed onset of action, short half-life, dietary restrictions, and potential for drug interactions. Jaqbo offers faster relief with an immediate effect upon administration and a longer half-life, making it especially effective in alleviating nighttime acid reflux symptoms.
The drug can also be taken without regard to meals, offering enhanced convenience for patients.
According to UBIST, a drug market research firm, the combined sales of P-CAB and PPI drugs in Korea last year reached 912.7 billion won ($682.8 million), with P-CAB accounting for 23.8 percent of the market.
"We hope this collaboration will become a benchmark for successful partnerships in the industry and that Jaqbo will emerge as a blockbuster drug,” Jeil Pharmaceutical CEO Sung Seok-Jae said. “We are committed to delivering an effective treatment solution for GERD patients based on the superior efficacy and safety of Jaqbo.”
Dong-A ST CEO Jeong Jae-hoon also said, “Jaqbo is a groundbreaking medication that overcomes the limitations of existing treatments.”
The company will continue to work closely with Jeil Pharmaceutical to promote the excellence of this drug and expand its market share, Jeong added.