KainosMed "Establishing a Foundation for Global Expansion... Maximizing Corporate Value"

[Asia Economy Reporter Hyunseok Yoo] Lee Gisub, CEO of KainosMed, stated on the 31st, "This year, we will maximize corporate value not only through new drug development projects such as Parkinson's disease treatments but also by entering the U.S. healthcare market."

At the regular shareholders' meeting held that day, CEO Lee said, "KainosMed has laid the foundation for global market entry in the fields of new drugs and healthcare this year."

KainosMed plans to submit the clinical trial application (IND) for Phase 2 clinical trials of multiple system atrophy to the Ministry of Food and Drug Safety in the second quarter of this year, and through its U.S. subsidiary Fascinate, submit the Phase 2 IND for the Parkinson's disease treatment (KM819) to the FDA this summer.

He explained, "Recently, big pharma companies such as Biogen and Sanofi have halted Phase 2 clinical trials targeting alpha-synuclein for Parkinson's disease due to lack of efficacy. Unlike these companies' drugs that directly remove pathological proteins like alpha-synuclein, KM819 has a comprehensive approach that protects nerve cells and activates autophagy, making it more noteworthy."

CEO Lee added, "As we have expanded our scope through joint cancer drug research and development with the U.S. biotech Emmaus Life Sciences and entry into the U.S. market and bio new drug development, the new drug development business will be further strengthened."

KainosMed recently formed a strategic partnership with Emmaus Life Sciences for joint new drug development and agreed to collaborate on the commercialization of several new drugs, including the cancer drug 'IRAK4 inhibitor.' Additionally, they recruited Professor Eunhee Kim from Chungnam National University, who developed the core technology of KM819, as the Head of the Biopharmaceutical Division (Vice President). Vice President Kim is an authority on FAF1, the target substance of KM819, and plans to develop bio new drugs using FAF1 at KainosMed in the future.

In addition to sales of the AIDS treatment drug (KM023) in China, entry into emerging markets will also be accelerated. CEO Lee said, "We expect NDA approval for the AIDS treatment drug soon," and added, "The establishment of a joint venture in Singapore with Jangsu ID is also expected to boost entry into emerging markets such as India."

KainosMed will also enter the U.S. healthcare market through the joint venture Diversity United. He said, "We plan to sign a supply contract in the second half of the year," and added, "We expect this business to become a cash cow for KainosMed going forward."

Meanwhile, at the regular shareholders' meeting held that day, KainosMed approved the financial statements, stock option grants, and limits on director and auditor remuneration as originally proposed.