EvicsGen Reveals Outstanding Pipeline Development Status

DXVX recently announced on the 23rd that Evixgen, which it has decided to acquire, has disclosed the development status of its pipeline. Evixgen, in which DXVX recently decided to acquire approximately 63% of shares, is a new drug development specialized company possessing excellent pipelines for ophthalmic diseases such as dry eye syndrome and macular degeneration, as well as atopic dermatitis.

Evixgen is currently focusing on dry eye syndrome, which has the highest commercialization potential. It has completed Phase 1 clinical trials in South Korea through Bundang Seoul National University Hospital, Seoul National University Hospital, Samsung Seoul Hospital, and Catholic St. Mary’s Hospital, and plans to conduct simultaneous Phase 2 clinical trials in both South Korea and the United States. Through a drug repositioning strategy, it significantly reduces side effects of existing drugs or mechanisms while developing effective treatments in the long term.

The treatment for age-related macular degeneration is being developed as both an injectable and an eye drop. It is expected to develop new drugs that increase efficacy and reduce side effects through differentiated mechanisms from existing treatments, such as inhibition of neovascularization and vascular endothelial growth factor receptors. In particular, for the macular degeneration eye drops, in rabbit models, anti-neovascularization efficacy was confirmed at doses 5 to 20 times lower than existing drugs, and the anti-neovascularization effect was maintained even 28 days after administration when the efficacy of existing drugs had disappeared. For the injectable, Phase 1 clinical trials have been completed through Seoul National University Hospital (main branch) and Seoul Boramae Hospital.

The atopic dermatitis treatment is being developed with a new mechanism for improving inflammatory diseases using non-steroidal substances. It is expected to alleviate side effects such as itching, burning sensation, herpes eczema, and skin diseases that appear in existing treatments. Phase 1 clinical trials are planned to resume in the first half of next year through Asan Medical Center, Sinchon Severance Hospital, and H Plus Yangji Hospital.

An Evixgen official stated, “By participating in national new drug development projects and expanding collaboration with the parent company DXVX, we will rapidly advance the development of the pipeline, pass the technology evaluation in 2024, and pursue an IPO in 2025.” He added, “We plan to continuously secure excellent talent and enhance the pipeline value through successful clinical progress of ophthalmic-related pipelines such as dry eye syndrome and macular degeneration held by Evixgen.”

Meanwhile, the global market size for macular degeneration was approximately 15 trillion KRW last year and is expected to approach about 30 trillion KRW by 2030. The markets for dry eye syndrome and atopic dermatitis treatments are projected to reach 30 trillion KRW and 36 trillion KRW respectively by 2030, up from 15 trillion KRW and 18 trillion KRW last year.