Mundipharma partners on osteoarthritis treatment in South Korea
UK-based Mundipharma has entered into a strategic partnership with Kolon Life Science (KS Kosdaq: 102940) to market Invossa, which has been hailed as the world's first cell-medicated gene therapy for osteoarthritis and is expected to be approved by the South Korean Ministry of Food and Drug Safety (MFDS), in the second quarter of 2017.
Invossa is an intra-articular injection that is non-surgical treatment option. Demonstrating sustained pain reduction and functional improvement of articular joint for two years following a single injection in clinical trials. Kolon Life Sciences is the official Asia licensee for US regenerative medicine company TissueGene, which developed Invossa.
Under the terms of the partnership, Mundipharma will be responsible for the marketing and distribution of Invossa to general and semi-private hospitals, while Kolon Pharma will take responsibility for the general practitioner market. Invossais exported globally by Mitsubishi Tanabe.
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