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Seoul, Korea, May 30, 2021 /PRNewswire/ – Nexturn Bio Inc., a subsidiary of Nexturn Bioscience Co., Ltd. May 26day Acquired 50% of the shares of RosVivo Therapeutics Inc. (“Rosvivo”), a new drug developer in the United States, in approximately USD 5.5 million.
Therefore, Nexturn Bio Inc. cooperates to develop and utilize miRNA technology to target diabetes, obesity, non-alcoholic fatty liver (NAFLD), gastrointestinal (GI) dyskinesia, and COVID-19.
Nexturn Bio Inc. decided to invest in RosVivo and its miRNA technology through due diligence and valuation of industry-leading law firms, patent companies, strategic consulting firms and companies. Domestic and foreign accounting firms. Nexturn also consulted with a number of key opinion leaders in the fields of endocrinology and gastroenterology, and received positive feedback on the efficacy of new drugs.
According to market reports Global market insights, The global diabetes drug market is valued at approximately $65.5 billion (USD) in 2019 year. The world’s top pharmaceutical companies such as AstraZeneca, Novo Nordisk, Eli Lilly and Sanofi have increased their revenue by participating in early diabetes development drug.This corresponds to One April 2020 Learn Provided by GoodRx, the US telemedicine platform provides prescription drug comparison Price, where Describe diabetes as an expensive chronic disease.The average cost of a diabetic patient is about 222 USD with USD 476 Monthly non-insulin and insulin medications.
However, despite such high out-of-pocket costs, today’s conventional diabetes drugs still do not solve the problems of frequent dosing and various side effects.Many diabetes treatments rely on relief Symptoms, of which Is temporary Effective. Therefore, there is an urgent need to develop a drug to treat the root cause of diabetes.
RosVivo’s new miRNA drug RSVI-301 significantly reduces the frequency of injections, showing extend Effect, and alleviate side effects such as gastrointestinal motility disorder in animal research. It is expected that RSVI-301 will become a first-class diabetes drug.
“We think this project is not only a successful investment, but also an excellent opportunity to work with RosVivo to develop innovative diabetes treatments.,” An official from Nexturn Bio Inc. said: “We will do our best to demonstrate the market potential of RosVivo’s miRNA-based pipeline as an innovative anti-diabetic drug.”
In addition to the anti-diabetic pipeline RSVI-301, RosVivo also plans to cooperate with Established Universities and medical institutions have begun clinical trials of another RosVivo treatment pipeline called RSVI-305/306, which will target COVID-19.
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Source: NEXTURN Bio Inc.
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