[Press Release]PharmAbcine’s Phase 1 Ophthalmology Program PMC-403 Selected by the KDDF for Government-initiated Drug Development Program

6 Dec 2023
TitlePharmAbcine’s Phase 1 Ophthalmology Program PMC-403 Selected by the KDDF for Government-initiated Drug Development Program
CategoryPress Release

PharmAbcine’s Phase 1 Ophthalmology Program PMC-403 Selected by the KDDF for Government-initiated Drug Development Program

  • Research agreement signed with the KDDF as PMC-403 is selected for the Third National new Drug Development Project in 2023
  • PharmAbcine will receive funding support over the 2 years of PMC-403 clinical development for the Phase 1 nAMD clinical study in Korea

DAEJEON, South Korea, Dec 4, 2023 / -- PharmAbcine Inc. (KOSDAQ: 208340ks), a clinical-stage biotech company focusing on next-generation antibody therapeutics, announces that PMC-403, a TIE2-activating antibody program, has been selected by the Korea Drug Development Fund (KDDF) for the Third National New Drug Development Project in 2023.

The Company signed a research agreement with the KDDF to fund the Phase 1 clinical study for patients with neovascular age-related macular degeneration (nAMD) in Korea. PMC-403 is currently undergoing a Phase 1 clinical study in Korea for patients with nAMD who show suboptimal response to currently available therapy. PharmAbcine anticipates two years of support for clinical development expenses from the KDDF.

During this project, PharmAbcine aims to evaluate the safety and tolerability of PMC-403, determining the maximum tolerated dose (MTD) and establishing the recommended phase 2 dose (RP2D) essential for progressing to the Phase 2 clinical study.

PMC-403 emerges as a potential game-changer with a novel mechanism of action, activating the TIE2 receptor and normalizing leaky pathological blood vessels. Studies have shown that in aged human blood vessels, there is a reduction in the number of TIE2 receptors compared to young human blood vessels. This supports that the TIE2 receptor could potentially serve as the biomarker for aging blood vessels and vascular-related diseases.

Dr. Weon Sup Lee, Head of R&D/CTO at PharmAbcine and the research director for this project, emphasizes that “the Phase 1 study in Korea has great significance, being the world’s first clinical trial for a TIE2 agonist.” He also commented, “The clinical results from PMC-403 will be pivotal data contributing to evaluating the safety and efficacy of TIE2 agonistic antibody, and will set the stage for future advancements in this field.”

Dr. Jin-San Yoo, President & CEO of PharmAbcine, commented “PMC-403 is differentiated from standard anti-VEGF inhibitors by its unique mechanism of normalizing blood vessels. PMC-403 will likely be a game-changer in the ocular diseases market.” Dr. Yoo also expressed PharmAbcine’s commitment to successfully complete the Phase 1 study and engage in ongoing discussions with global pharmaceutical partners to out-license the PMC-403 program.

About PharmAbcine Inc.

PharmAbcine is a clinical stage public company developing next generation IgG based therapeutics to treat cancer, neovascular eye diseases, and vascular related unmet needs.

The Company’s main pipeline include clinical assets olinvacimab and PMC-403, and an IND-approved potential first-in-class asset PMC-309.

Olinvacimab, the Company’s lead asset, is undergoing a Phase 2 trial in combination with MSD’s pembrolizumab for mTNBC patients in Australia. The Company entered the Phase 2 study to reconfirm the encouraging result from Phase 1b olinvacimab-pembrolizumab trial, delivering 50% ORR, 67% DCR, and clean safety profile.
PMC-403 is a novel TIE2-activating antibody that stabilizes dysfunctional leaky disorganized pathological vessels and can be used for vascular-related eye disease, including wet AMD (Age-related Macular Degeneration). PMC-403 is currently undergoing Phase 1 trial for neovascular AMD patients in Korea. PMC-403 is also being explored to expand into wider therapeutic areas related to pathological vessels including vessel-related rare disease and chronic kidney disease.

PMC-309, a novel anti-VISTA-antagonizing IgG in pan pH, is an immune checkpoint regulator that targets MDSC (myeloid derived suppressor cells) and M2 macrophages which play pivotal role in maintaining immunosuppressive TME (Tumor Microenvironment).

PMC-005, is an anti-EGFRviii IgG that only binds to EGFRviii expressed on cancer cells and can be applied to various modalities including CAR-T, CAR-NK, CAR-Macrophage, T cell/NK cell engager, and Radio-Immunotherapy.

For additional information about PharmAbcine, visit http://www.pharmabcine.com or follow on Youtube and LinkedIn.

For licensing deals, joint venture, co-development, and collaboration in research or antibody discovery inquiries, please contact:

Business Development Team

E-mail: bd@pharmabcine.com

Office line: +82 70 4279 5100

For investor relations and public relations inquiries, please contact:

IR/PR Team

E-mail: pmc_dis@pharmabcine.com

     2F, Research Building 2, 70,

     Yuseong-daero 1689 beon-gil,
     Yuseong-gu, Daejeon, 34047, Republic of Korea

     HQ +82-42-863-2017 

     R&D Center +82-42-861-2017

     Investor Relations +70-4294-6097 

     FAX +82-42-863-2080 

     COPYRIGHT BY PharmAbcine Inc.