Daewoong Pharmaceutical said it would enter the treatment market for botulinum toxin (BTX) in the U.S. with Nabota.
|Daewoong's U.S. partner, AEON Biopharma, has received approval from the FDA to conduct phase 2 trials for Nabota in treating cervical dystonia. (Daewoong)|
The company stressed that AEON Biopharma, the company's U.S. partner for the botulinum toxin treatment business, has received approval from the U.S. Food and Drug Administration (FDA) to conduct phase 2 clinical trials for using Nabota, its BTX, in treating cervical dystonia.
Cervical dystonia is a chronic disease that cannot be cured due to a neurological abnormality in which the neck muscles cramp, contract, or return to an abnormal position. There are an estimated 000 people in the United States suffering from the disease, while BTX administration is currently the only standard treatment.
The company expects the trials to begin by the first half of 2021.
AEON Biopharma is the exclusive partner of Daewoong Pharmaceutical's BTX treatment business in advanced countries and has exclusive rights related to commercialization such as licensing, importing, and selling Daewoong's products for therapeutic purposes in the United States, Europe, and Canada.
The U.S. company also plans to continuously acquire additional indications for treatment in addition to cervical muscle dystonia.
According to Daewoong, the U.S. BTX treatment market is about twice the size of the beauty market and is a promising market that grows more than 9 percent annually, while Allergan currently accounts holds over 94 percent of this market.
"As there is no clear competitor in the U.S. BTX treatment market other than Allergan, we expect that AEON Biopharma will be able to secure a high market share when entering the market," said Park Sung-soo, head of Daewoong's Nabota business division. "The company also expects that by providing excellent products at reasonable prices to U.S. patients, it will also serve the United States' public interest."
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