Kolon Life Science has filed for approval from the Ministry of Food and Drug Safety to market Invossa, the world’s first medicine for the degenerative joint disease. Invossa is the first gene therapy which treats arthritis with a normal gene of donors. It is the result of 17 years of its investments in biotechnology.
Kolon Life Science announced on July 11 that it requested the Ministry of Food and Drug Safety for permission to introduce to the domestic market Invossa, its treatment for degenerative arthritis, on the 8th.
Invossa is a cell-mediated medicine that has a three-to-one ratio of normal cartilage cells to transgenic cartilage cells. Since the medicine treats degenerative arthritis by injecting it into the joint cavity of a patient without surgery, it is easy to use, according to the company.
Kolon Life Science said, “Through the clinical trials in Korea, Invossa was found to reduce osteoarthritis pain, slow down degeneration and improve cartilages. As the medicine for degenerative arthritis, it verified the efficacy and safety.”
The company successfully completed the Korea clinical trials for Invossa in April and proved its efficacy in conferences at home and abroad, such as The Osteoarthritis Research Society International (OARSI) and International Society for Cellular Therapy (ISCT), through the clinical trials.
With the request of permission to market the product, Kolon Life Science has become the nation’s first company to commercialize gene therapy and has laid the groundwork to jump into a global leading gene therapy developer, according to iindustry sources. In addition, gene therapy is a promising market. The global gene therapy market was worth US$280 million (321.66 billion won) last year but it is expected to grow to US$5 million (574.4 billion won) by 2020.