Kyungdong Pharmaceutical, MOU with P2K Bio for Dry Eye Treatment Development

[Financial News] Kyungdong Pharmaceutical announced on the 27th that it has signed a memorandum of understanding (MOU) with the pharmaceutical and bio venture company P2K Bio for the joint development of a dry eye treatment.
The signing ceremony held at the Kyungdong Pharmaceutical headquarters in Gwacheon, Gyeonggi-do, was attended by Ryu Gisung and Kim Kyunghoon, co-CEOs of Kyungdong Pharmaceutical, Park Yoonsang, CEO of P2K Bio, and key executives from both companies.
Through this agreement, the two companies will cooperate in the research and development and commercialization of dry eye treatments. They plan to closely collaborate on new product research and development, including preclinical and clinical trials, to achieve detailed goals sequentially.
P2K Bio, established in 2022, is a pharmaceutical and bio venture company developing formulation technologies for chemical and biopharmaceuticals, pulmonary inhalation drug delivery technologies, and microneedle platform technologies.
Ryu Gisung, CEO of Kyungdong Pharmaceutical, said, "With the agreement with P2K Bio, we will lay the foundation for the development of a dry eye treatment," adding, "We hope to expand our product line by adding ophthalmic agents to Kyungdong Pharmaceutical's pipeline."
Meanwhile, according to data from the Health Insurance Review and Assessment Service, more than 2 million people visit hospitals for dry eye disease each year over the past decade. The dry eye market is expected to continue expanding due to various factors such as aging, smartphone use, and fine dust.
dschoi@fnnews.com Choi Doo-sun Reporter