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DAEJEON, South Korea, Aug. 19, 2021 /PRNewswire/ -- PharmAbcine Inc. (KOSDAQ: 208340ks), a clinical-stage biotech company focusing on the development of next-generation antibody therapeutics, today announced it submitted a Patent Cooperation Treaty (PCT), an international patent application, for an anti-ANG2 (Angiopoietin 2) antibody.
The antibody antagonizes ANG2, a pro-angiogenic factor highly expressed on unhealthy blood vessels, which are disorganized and leaky. The inhibition of ANG2 stops the formation of leaky blood vessels and further progression of vascular-related ocular diseases such as AMD (Age-related Macular Degeneration), DME (Diabetic Macular Edema), and DR (Diabetic Retinopathy).
A key feature of this antibody is that it has been modified from an existing anti-ANG2 antibody to have better solubility. This modified antibody has a high concentration formulation, which can show strong therapeutic effects in eye diseases.
The PCT submission will allow the Company to proceed to the national phase which involves submitting applications to regional offices in multiple countries to seek patent protection. The Company already submitted a patent application for the modified antibody in South Korea and plans to finalize the patent filing for the original antibody format in the US, European nations, China, Japan, etc. by the end of August 2021.
According to Allied Market Research, a market research and advisory company, there is a significant growth in the ophthalmic drugs sector caused by the rise in the prevalence of eye diseases from the increase in the geriatric population. The global ophthalmic drugs market generated USD 36,488 million in 2019 and is projected to reach USD 58,134 million by 2027 with a CAGR (Compound Annual Growth Rate) of 5.6%.
"This patent submission will secure the intellectual property rights of our new ANG2-targeting asset," said Dr. Jin-San Yoo, CEO of PharmAbcine. "We are thrilled to expand our pipeline portfolio with the addition of a new candidate which can be an excellent therapeutic option to improve quality of vision and quality of life for patients with retinal diseases."
About PharmAbcine Inc.
PharmAbcine is a clinical-stage biotech company focusing on the development of fully human antibody therapeutics to treat neovascular disorders, tumors, and other medically unmet diseases. It provides therapeutic antibodies for a wide spectrum of indications from oncology, immuno-oncology, ophthalmology, pulmonology, to renal pathology.
PharmAbcine has its own HuPhage library and innovative selection system. PharmAbcine's advanced 3G expression system accommodates high levels of antibody production and steady reproducibility. With these cutting-edge technology platforms, it provides state-of-the art antibody generation services.
PharmAbcine also has unique knowhow in the area of the antibody production, early drug development, and clinical development.
For additional information about PharmAbcine, visit http://www.pharmabcine.com or follow us on Youtube and Linkedin.
For licensing deals, co-development, and collaboration in research or antibody discovery inquiries, please contact:
Business Development Team
E-mail: bd@pharmabcine.com
Office line: +82 70 4279 5100
For investor relations and public relations inquiries, please contact:
IR/PR Team
Paul Kim, Chief Financial Officer
E-mail: paul.kim@pharmabcine.com
Office line: +82 70 4270 2632
Sungjun Park, Associate
E-mail: sungjun.park@pharmabcine.com
Office line: +82 70 4270 2637
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