China-based Lee’s Pharmaceutical Holdings Ltd (HKG: 0950) subsidiary Zhaoke Ophthalmology Ltd (HKG: 6622) has announced a distribution and supply agreement with South Korea’s Kwangdong Pharmaceutical Co., Ltd for NVK002, an atropine external use eye solution. Under the terms of the agreement, Kwangdong will assume import, publicity, distribution, marketing, and sales rights for the drug in South Korea. In return, Zhaoke will receive an undisclosed amount of upfront payment, along with regulatory and marketing milestone payments.
NVK-002: A Promising Treatment for Myopia in Children
NVK-002 is a preservative-free investigative eye drop product designed to halt the progression of myopia in children aged 3 to 17, administered nocturnally. Lee’s Pharma secured a licensing deal with US firm Nevakar Inc. in October 2020, gaining exclusive development, manufacturing, and commercialization rights to NVK-002 in Greater China, South Korea, and Southeast Asia. The Phase III CHAMP study confirmed the drug’s safety and efficacy as a potential treatment for myopia in children. Nevakar’s subsidiary Vyluma is planning to make a market filing for the drug in the US during the first quarter of this year.
Expanding Access to Innovative Eye Care Solutions
This distribution agreement with Kwangdong Pharmaceutical marks a significant step in expanding access to NVK-002 for patients in South Korea, providing a valuable treatment option for managing myopia in children and adolescents.-Fineline Info & Tech
