LG Chem to start trials on knee arthritis treatment
LG Chem got the nod to start Phase 1 and 2 clinical trials of its osteoarthritis treatment candidate LG34053 in Korea, the company said Thursday.
With the permission of the Ministry of Food and Drug Safety, LG Chem will conduct trials on a total of 140 knee osteoarthritis patients with light and moderate symptoms to test its safety, efficacy and tolerability. Clinical trials will take place at Samsung Medical Center.
The company will then expand the trials to Australia. The company said it plans to have Phase 3 clinical trials in the United States, with the goal of marketing the product by 2028.
LG Chem said its pre-clinical trials of the drug showed that it was efficient in reducing pain as well as improving cartilage damage.
“The start of clinical trials of the osteoarthritis treatment candidate will be an important milestone for LG Chem’s new drug business,” said Son Jee-woong, president of LG Chem’s life science business. “We will offer a new option to treat osteoarthritis for patients who have been suffering from the disease across the globe.”
The osteoarthritis treatment market in the world’s major seven countries including the United States, Japan, Germany, France, Italy and Spain is expected to reach 2 trillion won ($1.7 billion) by 2028, according to LG Chem.
BY SARAH CHEA [firstname.lastname@example.org]