Medipron "Paid-in Capital Increase Completed, Expanding Investment in New Drug Development"

[Asia Economy Reporter Hyunseok Yoo] Mediphron, a biopharmaceutical company specializing in new drug development, announced on the 8th that the payment of 15 billion KRW for the third-party allotment capital increase has been completed.

Through this capital increase, Mediphron has secured a foundation to expand its new drug development capabilities. The company plans to invest the funds in the development of non-narcotic analgesics, Alzheimer's dementia treatments, and the expansion of new pipelines.

First, the company plans to conduct Phase 1 clinical trials for the non-narcotic analgesic this year. The non-narcotic analgesic has shown effectiveness in suppressing various neuropathic pains such as diabetic neuropathy, postherpetic neuralgia, postoperative pain, and cancer pain, which are not relieved by typical anti-inflammatory analgesics.

Investment in Alzheimer's dementia treatments will also be expanded. MDR-0214, for which a patent was filed last year, inhibits tau phosphorylation, thereby preventing degeneration and aggregation. Additionally, it is expected to have superior therapeutic effects due to its higher Blood-Brain-Barrier permeability compared to antibody drugs. NLRP3 inhibitory dementia treatments aimed at Alzheimer's disease through inflammasome regulation are currently one of the most notable fields.

Inflammasomes are observed in various diseases such as diabetes and non-alcoholic steatohepatitis, and Mediphron is developing them as a platform technology that can be expanded to various indications in the future.

Meanwhile, Mediphron recruited Jaehong Lim, former professor of pharmacology at the University of Oxford, UK, as the head of the central research institute last October. Lim Jaehong stated, “By establishing a collaborative system with T Scientific, the new largest shareholder, and bio companies with which it has cooperative and investment relationships, we can enhance synergy to secure new pipelines. To expand new pipelines, we plan to invest in the development of therapeutic agents for intractable chronic diseases using ion channel modulators owned by Mediphron.”