Day: January 26, 2023

“Expected to change GERD drug market landscape”

• Application for product approval of Fexuclue, a new drug for gastroesophageal reflux disease (GERD), has been completely submitted to Colombia, Vietnam, and Saudi Arabia
• NDA submissions in 11 countries completed in the shortest time among K-pharma new drugs… accelerating expansions into $1.61 billion market

SEOUL, South Korea, Jan. 26, 2023 /PRNewswire/ — Daewoong Pharmaceutical’s Fexuclue (active ingredient: Fexuprazan) is attracting attention as a game changer in the global gastroesophageal reflux disease (GERD) treatment market as it applied for approval in 11 countries across the world within one year after approval in Korea.

The company said on the 25th that it recently submitted a new drug application (NDA) for Fexuclue, a GERD drug, in Saudi Arabia. With this application, Daewoong completed NDA applications in 11 countries around the world in one year after securing permission for Fexuclue in Korea.

According to the 2021 data of IQVIA Global MIDAS, a pharmaceutical market research firm, the cumulative anti-ulcer drug market in 11 countries where Daewoong Pharmaceutical has submitted product approvals is estimated to be worth $1.61 billion (2 trillion won). The 11 countries in which the company has thus far submitted applications for Fexuclue approval include Brazil, the Philippines, Indonesia, Thailand, Mexico, Chile, Ecuador, Peru, Colombia, Vietnam, and Saudi Arabia.

Daewoong has also completed the submission of NDA for all four Latin American countries (Colombia, Ecuador, Peru, and Chile) that signed out-license agreements in 2021, and submitted an NDA to Vietnam to further accelerate its advance into the Asian market.

Based on the recent achievement to make a partnership with 15 countries, the company plans to further accelerate its global expansion for the growth of its blockbuster new drug. First of all, it plans to apply for product approval in 30 countries across the world by 2025 and launch in 100 countries by 2030. In particular, it won product approval in the Philippines in November last year for the first time in the world, and this year it will submit an application for product approval to advance into China, which has grown into the world’s largest anti-ulcer drug market beyond the United States with a market size of $3.53 billion (4.37 trillion won) as of 2021.

Fexuclue Tablet is a new drug for GERD officially launched by Daewoong Pharmaceutical in Korea in July last year and is a potassium-competitive acid blocker (P-CAB) drug. By improving the drawbacks of existing proton pump inhibitors (PPIs), it binds to the proton pump without activating gastric acid and quickly and stably inhibits the secretion of gastric acid. There are two indications it has secured so far: treatment of erosive GERD (40 mg) and improvement of gastric mucosal lesions in acute and chronic gastritis (10 mg). In particular, Fexuclue is the only P-CAB drug for gastritis indications in Korea. The compound patent expires approximately in 2036, with extension potential.

Seng-ho Jeon, CEO of Daewoong Pharmaceutical, said, “The fact that Fexuclue completed applications for approval in the most countries in such a short period of time after approval among new drugs developed in Korea proves our cumulative know-how and ability to develop global new blockbuster drugs. Along with the sequential expansion of overseas approval and launch, we will accelerate not only the expansion of indications through the promotion of multifaceted clinical trials but also but also diversify formulation to improve the value of product.”

Daewoong Pharmaceutical is conducting phase 3 clinical trials for additional indications for maintenance therapy after treatment of erosive GERD and prevention of ulcers caused by non-steroidal anti-inflammatory drugs (NSAIDs), and also commenced on clinical trials for eradicating Helicobacter pylori. In addition, it is preparing to expand its lineup through the development of orally disintegrating tablets and IV formulations (injections) for patient convenience.

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The scalability, security and composability of Flow blockchain will power the next generation of creativity, utility and value for the growing Doodles community

MIAMI, Fla.,, Jan. 25, 2023 /PRNewswire/ — Doodles, a leading Web3 media and entertainment franchise, will launch the highly anticipated Doodles 2 on Flow blockchain, the platform powering next-generation games, apps and digital assets, and home to brands like the NBA, NFL, Ticketmaster and Mattel.

The multi-chain expansion supports a wider range of creative and technical possibilities, enabling the next generation of Doodles products. The first is Doodles 2, a new NFT experience that allows holders to personalize their own Doodle on-chain, choosing their look with attributes like body, hairstyle, emotion, apparel and accessories. Wearable collections will be released via limited-edition IRL drops tied to specific events and brand collaborations with notable partners and public figures. These wearables can be sold, bought and traded on the Gaia marketplace.

With no gas fees and a seamless consumer checkout experience on Flow, Doodles 2 holders can enjoy endless customization of their own personalized, dynamic NFT identities to use across social networks, gaming platforms, live events, streaming content, retail activations and other imaginative moments.

“Doodles 2 is the perfect combination of self-expression, collecting, and community, inside a frictionless app that’s powered by blockchain technology,” said Jordan Castro, Co-Founder and Head of Product at Doodles. “We’ve productized the community’s desire to customize their Doodles so that it matches their IRL vibe exactly. Tech aside, Doodles 2 is the passport that’s used in all of our products – experiences, games, apps, music, animation releases, to bring further personalization, customization and rewards to our fans.”

Flow’s frictionless onboarding and world-class security, safety and recoverability make inviting people into the colorful world of Doodles just as easy for Web3 newcomers as it is for natives in the space.

“Doodles is one of the most recognizable brands in Web3, with a community as vibrant as the Doodles themselves,” said Dieter Shirley, Chief Architect of Flow. “With Doodles 2, they are unlocking more value for their existing community, while setting the stage for many more folks to join the joyful, inclusive world of Doodles. Their vision of accessible, interactive, and personalized fun is exactly the kind of project we had in mind when we designed Flow. I’m so excited for the launch!”

The Doodles 2 launch on the Flow blockchain will also mark the start of a future of strong cross-interoperability with Ethereum.

“We’re excited to continue investing in Doodles’ core collections on Ethereum, while also connecting Doodles everywhere our community lives and creates,” said Julian Holguin, CEO of Doodles. “As we grow our brand across other verticals like animation and music, Flow’s accessible and seamless onboarding experience enables us to capture audiences that are introduced through traditional media channels. We believe the combination of Ethereum and Flow is the ideal format to support and invest in our core Web3 community, while opening the gates to welcome new collectors.”

The first step of the Doodles 2 product experience opens to Doodles holders on January 31, with full details here in the coming days. If holders don’t own a Dooplicator, they can purchase one on OpenSea. For those who own a Dooplicator, but not a Doodle, holders will soon be able to lend out their Doodle on a future marketplace.

Doodles  is a series of digital collectibles derived from characters created by world-renowned artist Burnt Toast. Since its launch in October 2021, Doodles has quickly become one of the most promising projects born out of the Web3 boom thanks to its inclusive characters, experiential immersive activations, and passionate community. The brand has developed into a multi-faceted franchise that spans animation, gaming, merchandise, music and live events with notable partnerships and investors. For more information on Doodles, visit doodles.app. Join our online communities on Twitter, Instagram and Discord.

Flow is a decentralized layer one blockchain designed to support exceptional experiences for consumers at mainstream scale, from easy onboarding to ongoing utility. Frictionless, secure and eco-friendly, Flow empowers developers to innovate and push the limits that will bring the next billion to Web3. Today, Flow is home to a thriving ecosystem of creators from top brands, development studios, venture-backed startups, crypto leaders, and more. For more information, visit www.flow.com.

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