[Focus K-Bio] Gwak Byung-joo, CEO of GNT Pharma, "Confident in Joining the '10 Trillion Club' by 2030 with 'Multi-target' New Drug"

Interview with Gwak Byung-joo, CEO of GNT Pharma
Stroke New Drug Nellonemdaz & Dementia New Drug Chrisdesalazine
"Differentiated by 'Multi-target'... Scalability as an Advantage"
IPO Planned Within the Year... Accelerating Production Facility Securing

Gwak Byung-ju, CEO of GNT Pharma (Photo by GNT Pharma)

[Asia Economy Reporter Kim Ji-hee] "Through the technology transfer of the stroke new drug ‘Nellonemdaz,’ we expect sales of over 100 billion KRW next year. If global sales of Nellonemdaz and the new drug for canine cognitive dysfunction ‘Jedacure’ begin in earnest, achieving 10 trillion KRW in sales by 2030 is entirely possible."

On the 13th, at the headquarters of Genetipharma in Yongin, Gyeonggi Province, CEO Kwak Byung-joo expressed confidence while introducing key pipelines such as Nellonemdaz and the Alzheimer’s dementia new drug ‘Chrisdesalazine.’ Genetipharma is a venture company founded in 1998 by eight professors in the fields of neuroscience, pharmacology, and cell biology. After focusing on developing new drugs for brain diseases for a long time, development results have recently begun to materialize one by one.

CEO Kwak cites ‘multi-targeting’ as the biggest differentiator of their new drugs. Nellonemdaz simultaneously controls glutamate and reactive oxygen species, which cause neuronal cell death. Chrisdesalazine is a drug that simultaneously eliminates reactive oxygen species and inflammation caused by microsomal prostaglandin E2 synthase-1 (mPGES-1), the main cause of degenerative brain diseases. Nellonemdaz has already entered Phase 3 clinical trials in China and submitted a Phase 3 clinical trial plan to the Ministry of Food and Drug Safety in Korea last month. Chrisdesalazine is scheduled for Institutional Review Board (IRB) review for Phase 1b clinical trials at the end of this month.

These new drugs are both the present and future growth engines of Genetipharma. CEO Kwak said, "They are all highly scalable new drugs," adding, "One new drug with the same active ingredient can become different pipelines applicable to various diseases." According to him, Nellonemdaz can be used not only for stroke but also for traumatic brain injury and spinal cord injury, while Chrisdesalazine can be applied to treat Lou Gehrig’s disease and Parkinson’s disease. In particular, Chrisdesalazine has been confirmed to inhibit ‘mPGES-1,’ a target of next-generation anti-inflammatory analgesics. He explained, "Unlike existing anti-inflammatory drugs that cause stomach damage and myocardial infarction with long-term use, ours does not cause stomach damage," and added, "If development as an anti-inflammatory drug is accelerated next year, it could also treat inflammation caused by COVID-19."

Jedacure, recently launched domestically, is a veterinary medicine developed by shifting focus to companion dogs during the development of Chrisdesalazine. It has shown rapid results, supplying to over 300 animal hospitals within a month of launch. CEO Kwak said, "The market for cognitive dysfunction new drugs for companion animals is estimated at about 1 trillion KRW annually, with the domestic market around 18 billion KRW," and added, "We are preparing to conduct additional clinical trials if necessary to enter major overseas markets under the Genetipharma name."

Not only Jedacure but all major pipelines ultimately aim for global expansion. However, the specific overseas entry strategies differ by product. He said, "Nellonemdaz has been in contact with many big pharma companies, and once Phase 2 results are released, technology transfer will proceed quickly." Regarding Chrisdesalazine, he emphasized, "Requests for technology transfer are higher than for Nellonemdaz, but our strategy is to conduct clinical trials ourselves until the end," and added, "We will maximize the value of the new drug by achieving direct commercialization."

Along with the launch of Jedacure and the main new drug development entering the main track this year, Genetipharma is pursuing an initial public offering (IPO) for the first time in 23 years since its founding in 1998. One of the main reasons for going public at this point is to secure production facilities. CEO Kwak explained, "We expect that by 2025, global sales of Nellonemdaz and Chrisdesalazine as a Lou Gehrig’s disease drug will be possible, so production bases capable of obtaining approval in the US and Europe are needed," and added, "If we establish a foundation for long-term growth with the funds raised after listing, investors will welcome it as well."