Kwangdong introduces new drug candidate for pediatric myopia

South Korean pharmaceutical company Kwangdong Pharmaceutical announced on Monday that it has signed a contract with Hong Kong-based Zhaoke Ophthalmology Ltd. to introduce a new drug candidate for pediatric myopia called NVK002.

The drug was developed by the American pharmaceutical company Vyluma and is known to work on the central nervous system to expand the pupil.

Zhaoke holds the Asian regional rights to NVK002, and as part of the contract, Kwangdong Pharmaceutical will have exclusive sales rights for importing and distributing the drug in Korea.

CEO of Kwangdong Pharmaceutical, Choi Seong-won, said that the company expects NVK002 to play a key role in expanding its ophthalmic drug portfolio. He added that the company will focus on developing synergy with NVK002 through continuous research and development and introducing new drugs.

Li Xiaoyi, CEO of Zhaoke, expressed confidence that NVK002 will develop into an innovative drug that suppresses the progression of myopia in more pediatric and adolescent populations.

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