Daewoong to develop eye drops for diabetic retinopathy

South Korea's Daewoong Pharmaceutical is venturing into the development of a product that can easily treat diabetic retinopathy in the form of eye drops.

Currently, patients with this condition need to visit an ophthalmologist and receive injections into their eyes for treatment.

Daewoong Therapeutics, a subsidiary of Daewoong Pharmaceutical, announced on Friday that it has received approval for the clinical phase 1 investigational new drug (IND) application for an eye drop candidate substance called DWRX2008 for the treatment of diabetic retinopathy from the South Korean Ministry of Food and Drug Safety.

The main ingredient of the product is enavogliflozin, which is the same as that of Envlo, a domestic No. 36 new drug from Daewoong Pharmaceutical.

Diabetic retinopathy is a condition where retinal blood circulation is impaired due to diabetes, leading to vision impairment, and even blindness. Patients have to receive direct injections into their eyes to prevent the formation of neovascularization. Due to the fear and pain associated with receiving eye injections, there is a high demand for new treatment options.

The company explained that putting DWRX2008 into the eyes in the form of eye drops could lower intraocular blood sugar levels. It can also inhibit the secretion of vascular endothelial growth factor (VEGF), which affects the formation of neovascularization.

Animal experiments on primates and others showed similar effects to Bayer-Regeneron's blockbuster drug, Eylea (generic name aflibercept), after two months of administration. Eylea, an injectable drug, is a global blockbuster that generated sales of nearly $9.8 billion last year.

"DWRX2008 could be a game-changer in replacing antibody injections," CEO of Daewoong Therapeutics Kang Bok-ki said. "It could provide a new treatment alternative for patients who are unresponsive to existing therapies."

Write to Ji-Hyun Lee at bluesky@hankyung.com