South Korea-based biopharmaceutical company, GC Biopharma Corporation plans to launch its first-in-class medications for rare disorders. The new drug will be available to patients across all the global markets.
The South Korean drug industry has become highly competitive over the years. Advancements happen at a fast pace in pharma all with the assistance of government funds and upliftments from time to time. There are several leading pharma companies, including GC Biopharma that hold a monopoly in the healthcare and pharma space. Although sizably smaller than the western counterparts such as Europe and the US, innovations are on a rise across the South Korean pharma sector which was valued at 25.4 trillion South Korean won in 2021.
With innovation, GC Biopharma desires to go a step forward. The corporation has signed a purchase agreement with Catalyst Biosciences, a US-based research and clinical development biopharmaceutical company. Via this agreement GC Biopharma has gained the orphan haematology disorder treatment candidates of Catalyst Biosciences.
Among a total of 3 candidates, only one has been disclosed so far. One of them is a treatment candidate for Marzeptacog alfa also known as MarzAA, a rare bleeding disorder. According to GC Biopharma, the treatment candidate has already gone through phase 3 global clinical trials. Till now, they have received quite a positive response in clinical trials.
GC Biopharma is one of the leading players in South Korea’s healthcare sector. As per the company head, Huh Eun-Chul, they are confident that the new drug will make orphan disorders like MarzAA more administrable and manageable.
There have been no detailed revaluations but GC Biopharma plans to disclose them at the right time. However, they do call out their goal to enhance the treatments for patients suffering from different orphan disorders.
The purchase agreement has turned out well for Catalyst Biosciences. They have started to see a 55 percent rise in pre-market trading due to their fresh assets sale to GC Biopharma group.
The bleeding disorder treatment market has grown in the last few decades. It is expected that the market will multiply by 7.8 percent from 2022 to 2030. The current $14 million worth of treatment and cure market can reach a rough estimation of 26 million in the next 7 years. South Korea is anticipated to become a major pharma partner by the same interval in the Asia-Pacific region.
GC Biopharma is focusing on improving customer experience as well as expanding to an international customer base. With the agreement announcements, the company CEO Eun-Chul also shed light on their GreenGene F and Green Mono drugs used for treating haemophilia type A, a commonly found rare bleeding disorder. The Korean health authorities have approved both drugs. A good chunk of success in the control and prevention of bleeding episodes in patients has been visible through their intake.
Lately, GC Biopharma Corp. is indulging in more advancements in public health. The newly established Fil-finish Plant along with the BARYCELA varicella vaccine received pre-qualification from World Health Organization (WHO). GC Biopharma is devoted to enhancing the quality of healthcare solutions and aspires to continue to do so.