Chong Kun Dang Pharmaceutical is set to develop and commercialize a new drug candidate for retinal disorders in South Korea through a partnership with Kiora Pharmaceuticals, a U.S.-based company specializing in ophthalmic diseases.
On Friday, Chong Kun Dang announced that it had signed a licensing agreement with Kiora for the domestic development, approval, and commercialization of KIO-301, a promising drug candidate for retinal diseases.
Under the terms of the agreement, Chong Kun Dang will be responsible for the development, regulatory approval, and commercialization of KIO-301 in South Korea. Kiora will receive milestone payments based on development and regulatory progress, as well as royalties from domestic sales.
KIO-301 is a small molecule drug candidate primarily being developed for retinitis pigmentosa (RP), a rare genetic retinal disorder. RP causes progressive degeneration of photoreceptors, resulting in tunnel vision and decreased visual acuity. It’s estimated that over 10,000 patients in South Korea are affected by this condition.
The innovative approach of KIO-301 involves conferring light-sensing capabilities to retinal ganglion cells that remain after photoreceptor degeneration. Designed to work independently of specific genetic mutations, KIO-301 may potentially expand its indications to other hereditary retinal diseases such as choroideremia and Stargardt disease.
Chong Kun Dang plans to leverage its expertise in ophthalmology and its clinical and regulatory capabilities to advance the drug’s development in South Korea. For Kiora, this partnership extends its development and commercialization network for KIO-301 to South Korea, following its established presence in the U.S., Europe, Japan, and China.
Kim Young-joo, Chief Executive Officer (CEO) of Chong Kun Dang, stated that KIO-301 represents a novel therapeutic approach that isn’t limited by specific genetic mutations. It’s committed to collaborating with Kiora and our global partners to drive domestic development, drawing on the ophthalmology expertise and regulatory know-how.
Brian M. Strem, CEO of Kiora, expressed enthusiasm about the partnership, saying that they’re excited to work with Chong Kun Dang, given their strong clinical development, regulatory, and commercialization capabilities. Together, it aims to efficiently advance KIO-301’s global Phase 3 clinical trials and bring new hope to patients with retinitis pigmentosa in South Korea.
Kiora Pharmaceuticals specializes in developing treatments for retinal diseases using small molecule compounds. Beyond KIO-301, the company is also working on KIO-104, a candidate drug for treating macular edema caused by retinal inflammation.
In related news, Chong Kun Dang has recently been making strategic moves in the biopharmaceutical contract development and manufacturing organization (CDMO) sector.
The CDMO field is seen as a gateway to expanded collaborations with global pharmaceutical companies and increased opportunities for international market entry.
As the biopharmaceutical market experiences rapid growth, production capacity has become a key competitive advantage. Chong Kun Dang’s proactive investments in this area are viewed as a strategic move to meet future demand and strengthen its market position.
