Daewoong Pharmaceutical said that the Indian health regulators have approved phase 1 clinical trial of its DWRX2003, a Covid-19 treatment.

Daewoong Pharmaceutical has received the go-ahead for phase 1 clinical trial of its Covid-19 treatment, DWRX2003, in India. (Daewoong)

"DWRX2003 has a mechanism to inhibit viral proliferation by activating cell autophagy," the company said. "We have already conducted an in vivo efficacy test on animals to confirm the effect of reducing virus titer in rhinorrhea and lung tissue after Covid-19 infection."

The company will conduct the phase 1 clinical trial in about 30 healthy subjects from August and complete the phase 1 trial in the second half of this year. Afterward, it plans to begin phase 2 and 3 clinical trials for mild and moderate patients within this year, and apply for local approval as soon as it secures the results.

Before applying for the clinical trial, the company signed a license and joint development agreement with Mankind Pharma, India's third-largest pharmaceutical company, to speed up clinical trials of DWRX2003 and quickly supply the drug locally.

Daewoong Pharmaceutical's India subsidiary will conduct the phase 1 clinical trial along with Mankind Pharma, which will be in charge of the remaining phase 2 and 3 clinical trials.

The Korean company plans to use the data for submitting approval permits in advanced markets, such as the U.S. and Europe.

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