Asan Pharmaceutical Invests 2 Billion KRW in Degenerative Brain Disease Diagnosis Company Pamir Therapeutics

Exclusive Domestic Distribution Rights Secured for Parkinson's Disease In Vitro Diagnostic Kit

Asan Pharmaceutical, a company specializing in in vitro diagnostics (CEO Yeom Jeong-gyu), announced on the 21st that it has invested 2 billion KRW in Pamir Therapeutics (CEO Moon Cheol-gi), a company developing in vitro diagnostic kits for degenerative brain diseases, and signed a strategic business agreement for the "sales and supply of Parkinson's disease in vitro diagnostic kits."

Through this strategic investment and business agreement, Pamir Therapeutics will be responsible for the research and development and supply of Parkinson's disease in vitro diagnostic kits. Asan Pharmaceutical will secure exclusive domestic distribution rights for the Parkinson's disease in vitro diagnostic kits and handle sales and marketing activities.

Early diagnosis of Parkinson's disease is important because symptoms can be effectively controlled with early treatment. The two companies plan to pioneer a new Parkinson's disease diagnostic market by combining Pamir Therapeutics' early diagnosis technology for Parkinson's disease with Asan Pharmaceutical's sales capabilities and expertise in diagnostic devices.

Pamir Therapeutics, established in 2019 as a research-focused company, has proven the clinical efficacy of blood microRNA biomarkers through clinical trials. It is currently developing real-time PCR-based in vitro diagnostic kits for Parkinson's disease and Alzheimer's disease and plans to initiate confirmatory clinical trials for approval from the Ministry of Food and Drug Safety.

Asan Pharmaceutical specializes in manufacturing and selling in vitro diagnostic reagents and equipment, laboratory instruments and equipment, and culture media. Founded in 1971 as Samgwang Chemical Trading Company, it contributed to the development of the domestic diagnostic testing field by importing and manufacturing diagnostic reagents, including hepatitis diagnostic reagents, in a then-undeveloped clinical testing sector.

Moon Cheol-gi, CEO of Pamir Therapeutics, said, "With the rapid increase in Parkinson's disease patients due to population aging, the need for Parkinson's disease in vitro diagnostic kits is growing," adding, "We signed a strategic business agreement with Asan Pharmaceutical to quickly enter the Parkinson's disease in vitro diagnostic market after product approval."

Yeom Jeong-gyu, CEO of Asan Pharmaceutical, said, "Through this investment and strategic partnership, we hope to provide patients with high-quality and accurate test results at reasonable prices for Parkinson's disease in vitro diagnostic kits, contributing to improving the quality of life for Parkinson's disease patients."