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Photo: Daewon Pharmaceutical |
[Alpha Biz= Cha Hye Young] SEOUL, Oct. 16 — Daewon Pharmaceutical announced on Wednesday that it has terminated its joint development project with Raphas for DW-1022, a microneedle patch under development for the treatment of obesity.
The company said the decision reflects a strategic shift to focus on other key drug development programs, including potassium-competitive acid blockers (P-CABs) and uterine fibroid therapeutics.
Daewon recently transferred its entire 100% stake in patents and related rights for DW-1022 to Raphas, which will now continue the development in collaboration with a Chinese pharmaceutical partner.
A Daewon Pharmaceutical spokesperson stated,
“Daewon will no longer participate in the development of DW-1022. After completing Phase 1 clinical trials through joint development, we thoroughly reviewed the next steps and concluded that focusing on other pipelines would be more effective than continuing the microneedle patch project.”
DW-1022 is a transdermal microneedle patch formulation based on semaglutide, the same active ingredient used in the popular injectable obesity drug Wegovy. The patch aims to reduce the discomfort and compliance burden associated with injectable formulations.
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