JW Pharma to participate in S.Korea’s new drug project

South Korea's JW Pharmaceutical announced on Monday that its experimental hair loss drug, JW0061, has been selected for a two-year funding program by the Korea Drug Development Fund (KDDF), the country's premier public funder of pharmaceutical research and development.

JW0061, described as a groundbreaking drug candidate, aims to tackle hair loss by targeting the Wnt signaling pathway, a critical mechanism involved in skin and hair follicle development.

"The drug uniquely activates a new target, GFRA1, which is unrelated to male hormones," a company source said. "As a result, JW0061 is expected to be safe and effective for both male and female patients experiencing hair loss."

The funding boost from KDDF comes as JW Pharmaceutical is actively conducting toxicity assessments for the drug with the goal of launching clinical trials next year.

The company also revealed ongoing efforts to optimize a transdermal (patch-type) formulation, offering patients a more convenient treatment application.

The KDDF is a national consortium backed by three South Korean government ministries and is recognized as the largest public source of drug R&D funding in the country.

This funding initiative will cover non-clinical trial costs for JW0061 over the next two years.

Write to Hyun-Ah Oh at 5hyun@hankyung.com