Preparing for IPO
On November 29, the Korea Ministry of Food and Drug Safety approved the phase 1 clinical trial of HY209 for the treatment of dementia.
HY209 is a novel inflammasome inhibitor developed by Shaperon, a biotech company based in Seoul. The main ingredient of HY209 is taurodeoxycholic acid (a component of bile acids) that can suppress the production of proinflammatory cytokines.
In the pre-clinical studies with the Alzheimer’s disease (AD) mouse models, HY209 reduced the AD pathologies and cognitive dysfunction.
The phase 1 study will start next year and is expected to take about one and a half years to confirm the safety, tolerability, and pharmacokinetics of HY209. A total of 86 healthy volunteers will participate in this clinical trial.
Meanwhile, Shaperon passed the technology evaluation for KOSDAQ listing in November and has a plan to proceed with the Initial Public Offering (IPO) in the first half of next year.