[BioUSA] Lee Jung-kyu "Big Pharma's Growing Interest in Pulmonary Fibrosis, Full Betting on Clinical Trials for Technology Export"

Interview with Lee Jung-kyu, CEO of BridgeBio
"BBT-877 Phase 2 Progressing Smoothly... Market Growth Expected"

"It seems that big pharma companies have become more interested in idiopathic pulmonary fibrosis (IPF). We have made a 'full bet' with the large-scale Phase 2 clinical trial of BBT-877. We are focusing on the clinical trial and aim to achieve technology export as early as this year."

Lee Jung-kyu, CEO of Bridge Biotherapeutics, is being interviewed by Asia Economy in San Diego, California, USA, where the 2024 BIO International Convention (BIO USA) is being held.
[Photo by Lee Chun-hee]

At the 2024 BIO International Convention (BIO USA) held in San Diego, California, USA, on the 4th (local time), Lee Jung-kyu, CEO of Bridge Biotherapeutics, said, "During this exhibition, we had about 50 meetings, including with 15 big pharma companies," and explained, "Since the Phase 2 clinical trial of BBT-877 is progressing smoothly, we felt a high level of interest."

BBT-877 is currently the most anticipated candidate drug at Bridge Biotherapeutics. The company expects to capture a significant market share in the IPF treatment field, where unmet needs remain high. IPF is a type of interstitial lung disease characterized by symptoms such as shortness of breath and coughing. As the lungs become stiff (fibrotic), symptoms worsen, leading to chronic respiratory distress and hypoxemia. The exact cause has not yet been clearly identified, and current treatments only slow further decline in lung function without providing a fundamental cure.

BBT-877 is undergoing a Phase 2 clinical trial involving a total of 120 patients in the United States and South Korea. CEO Lee reported, "As of today (the 4th), we have enrolled the 105th patient, achieving 87.5% of our target, and the trial is progressing well." He added, "We plan to complete patient enrollment by August to September and aim to finish the clinical trial in the first half of next year." He particularly noted, "Patient recruitment is proceeding quickly," explaining, "This indicates that those willing to participate in the trial view BBT-877 positively." Regarding the scale of this clinical trial, he emphasized it as a 'full bet.' He said, "Enrolling 120 patients is quite a large number," and added, "Unlike other trials that seem to be 'testing the waters,' recruiting many patients has led big pharma to have different expectations."

He also placed considerable expectations on the market growth potential. According to the global market research firm Research and Markets, the IPF treatment market is expected to grow from $3.1 billion in 2020 to $6.1 billion (approximately 8.418 trillion KRW) by 2030, at an average annual growth rate of 7%. CEO Lee said, "Currently, the drug is used only for severe to moderate patients," and expressed hope that "if the drug is administered to early-stage patients with sufficient lung capacity, the market could expand to as much as 15 trillion KRW."

BBT-877 is also considering expanding its indications to cancer treatments, including ovarian cancer and immuno-oncology resistant cancers. CEO Lee explained, "BBT-877 inhibits the activity of autotaxin, which converts lysophosphatidylcholine (LPC) in the human body into lysophosphatidic acid (LPA), a phospholipid that induces fibrosis or tumor formation." He added, "Some of the related receptors are involved in IPF, while others are involved in cancer development, so we see potential for oncological indications as well." In the IPF treatment area, Bridge Biotherapeutics is also developing BBT-209 and BBT-301, which have different mechanisms of action from BBT-877. CEO Lee said, "Once some investment is secured, we plan to select one of these two drugs and proceed directly to Phase 2 clinical trials," adding, "Although we are still in a conservative stage, we also expect efficacy through combination therapy."

Bridge Biotherapeutics initially pursued a 'No Research Development Only (NRDO)' model but has recently transformed into a 'self-development' company that discovers compounds from the early stages. NRDO is a business model that advances preclinical or early clinical stage compounds acquired from others and then re-licenses them. BBT-877 was introduced from LegoChem Biosciences at the preclinical stage in 2017. CEO Lee said, "Since our IPO in 2019, we have been increasing the proportion of self-developed compounds," and explained, "Although we initially introduced compounds, the need for in-house development naturally arose, leading to this evolution." Next month, the company plans to conduct a paid-in capital increase worth 26 billion KRW. Regarding this, he said, "It will mainly be used to advance key clinical projects such as BBT-877," emphasizing, "We have invested over 40 billion KRW since acquiring BBT-877, so we have high expectations."