KainosMed Receives Approval for KOSDAQ Listing Review... Boosting Parkinson's Disease Treatment Development

[Asia Economy Reporter Yoo Hyun-seok] Kainosmed, a developer of central nervous system (CNS) drugs, has passed the listing review on the KOSDAQ market. This will accelerate the development of a treatment for multiple system atrophy (MSA), an indication expansion disease along with Parkinson's disease treatment.

Kainosmed announced on the 14th that the Korea Exchange approved the preliminary review for the merger listing between Kainosmed and Hana Financial No.11 SPAC on the 13th.

Founded in 2007, Kainosmed is developing new drugs for degenerative brain diseases, viral diseases, and cancer. Recently, it has been focusing on developing a Parkinson's disease treatment (KM-819). Although the number of Parkinson's patients is increasing due to population aging, only temporary symptom relief drugs exist, so there is a high demand for disease-modifying treatments that halt disease progression.

KM-819 is a disease-modifying treatment targeting the FAF1 protein to fundamentally block the progression of Parkinson's disease. It completed Phase 1 clinical trials in South Korea in 2017. The Phase 1 results confirmed that KM-819 is a highly safe drug without side effects, and its efficacy was verified in several animal models.

Kainosmed plans to start Phase 2 clinical trials of KM-819 in the United States this year through its U.S. subsidiary, and discussions with U.S. bio-specialized venture investment companies interested in investing are in the final stages.

Kainosmed will expand the indication of KM-819 to the rare disease multiple system atrophy and conduct clinical trials. Multiple system atrophy shows motor disorder symptoms and autonomic nervous system abnormalities similar to Parkinson's disease but progresses faster and has a higher mortality rate. It is a rare disease with no available treatment drugs.

Lee Ki-seop, CEO of Kainosmed, said, "Passing the KOSDAQ listing review has provided a foundation to further focus on developing CNS drugs such as Parkinson's disease treatment and multiple system atrophy," adding, "We will do our best for the global clinical success of the Parkinson's disease treatment."

Meanwhile, besides Parkinson's disease treatment, Kainosmed is also developing AIDS treatments, epigenetic anticancer drugs, and cytotoxic anticancer drugs.