HK inno.N acquires a next-generation GLP-1 analog for anti-obesity treatment from Sciwind of China
May 2, 2024
HK inno.N acquires a next-generation GLP-1 analog for anti-obesity treatment from Sciwind of China
Secured 'ecnoglutide’, a novel GLP-1 analog medication of Sciwind, a Chinese biopharmaceutical company
HK inno.N gains exclusive rights for development and commercialization of ecnoglutide in Korea...Phase 3 Clinical Trial is planned
△Glucose Control △Weight Loss △Safety Confirmed...Development of an once-weekly injectable medication for treatment of diabetes and obesity in progress
HK inno.N is set to enter the global market of anti-obesity drugs projected to grow at an annual rate of 30% by licensing in the next-generation GLP-1 analog for obesity treatment from a Chinese biopharmaceutical company. With domestic and global biopharmaceutical firms battling for breaking into the development of ani-obesity medications, HK InnoN is expected to emerge as a strong potential player by securing the new compound planned for phase 3 trials in Korea.
HK inno.N announced on May 2, its signing of a partnership with SCIWIND BIOSCIENCES CO., LTD (hereinafter ‘SCIWIND’), a biopharmaceutical company based in China, and licensing in “ecnoglutide(XW003),” a glucagon-like peptide-1 (GLP-1) analog, for development and commercialization of the anti-obesity therapeutic in Korea
Under the contract, HK inno.N will make an upfront payment to SCIWIND, along with milestone payments and royalties based on post-release sales, and is granted exclusive rights for development and commercialization of ecnoglutide within Korea.
Ecnoglutide acquired by HK inno.N is a glucagon-like peptide 1 (GLP-1) analog. It is an injectable treatment of once-weekly dosing regimen, and a phase 3 clinical trial is in progress in China for type 2 diabetes mellitus and obesity. Phase 2 clinical studies in China and Australia confirmed its efficacy in reducing blood sugar levels and body weight along with confirming a favorable safety profile. Under this contract, HK inno.N is to conduct a phase 3 clinical trial for ecnoglutide on type 2 diabetes mellitus and obesity, concurrently.
"The acquisition of ecnoglutide marks the HK inno.N’s entry into the rapidly growing global market of anti-obesity therapeutics," Dalwon Kwak, CEO of HK inno.N announced. “Building on the blockbuster success of K-CAB, a gastroesophageal reflux disease (GERD) drug, we will work in close partnerships with SCIWIND to develop ecnoglutide into a product of sales generation up to more than KRW 100 billion in the anti-obesity drug market in Korea."
Hai Pan, CEO of SCIWIND said " We are delighted to have this opportunity of partnership with HK inno.N, which has demonstrated outstanding capabilities in product development and commercialization " and further added, "Ecnoglutide, a GLP-1 analog, has demonstrated its therapeutic effect on type 2 diabetes mellitus and obesity and favorable safety and tolerability outcomes through clinical trials.”
With the yearly trend of an ongoing increase in the number of overweight or obese people worldwide, the market for obesity treatment is expanding rapidly following the unprecedented level of demand. The global market for the GLP-1-based anti-obesity drugs is projected to show an annual growth rate of 30%, hitting KRW 100 trillion by 2030.
The domestic market for anti-obesity medications is also expected to show an explosive growth rate, from KRW 170 billion in 2022 to KRW 720 billion by 2030, driven by increasing rates of overweight and obesity prevalence among the population.
SCIWIND, the licensor of this partnership with HK inno.N, is a Chinese biopharmaceutical company founded in 2017, and has developed a strong expertise in the research and development of GLP-1 peptide with multiple proprietary technologies. Its main product pipeline includes the long-acting GLP-1 analog ecnoglutide (Phase 3), oral tablet formulation of ecnoglutide XW004 (Phase 1), and oral small molecule GLP-1 receptor agonist XW014 (Phase 1). (The End)
[Reference information]
▶ Glucagon-like peptide-1(GLP-1) analog
Glucagon-like peptide-1(GLP-1) is an incretin hormone secreted from the intestine on intake of food, and strongly exerts its effect of stimulating secretion of insulin, which plays an important role in regulating blood sugar levels. GLP-1 analog is a class of medication that has a similar effect to GLP-1, a hormone in the human body that increases the secretion of insulin.
GLP-1 analog has a mechanism of action that regulates blood sugar levels by stimulating insulin secretion. It was originally used for patients with type 2 Diabetes Mellitus when first developed, but it also demonstrated the effect of promoting weight loss in diabetic patients, and is used as an obesity treatment.