Celltrion reveals development in COVID-19 phase 3 drug trial

Celltrion has completed the third phase of its COVID-19 drug testing after administering the experimental coronavirus antibody treatment to 1,300 individuals who participated in this stage of the clinical trial.

The COVID-19 drug under trial

As per The Korea Herald, this phase 3 is the final step in the human tests of the medicine that was named Regkirona or CT-P59. It was mentioned that the trials are being done in 13 nations that include the U.S., South Korea, Romania, and Spain.

Based on the report, the said drug has been approved in Korea for emergency use and was issued an authorization in February. It was then used to treat patients with mild symptoms in adults and those belonging to high-risk groups. Celltrion shared that they did not find any unusual reaction from a group of patients who received the drug.

The next step for the Korean biopharmaceutical company based in Incheon is to gather the results of the tests and forward them to overseas and local health authorities. Celltrion may do this within the last week of June this year.

“Celltrion has secured enough patients for phase 3 clinical study and expects to speed up discussions to export the COVID-19 antibody treatment,” a company official said. “We will focus on successfully completing the phase 3 clinical trial by the first half this year.”

The company is said to have already produced enough doses of the tested drug for 100,000 people. And once Celltrion secured all the necessary documents and approval for Regkirona, it has the capacity to produce the treatment for at least three million people per year.

Celltrion’s board welcomes the founders’ sons

Meanwhile, Celltrion founder Seo Jung Jin’s two sons have reportedly joined the company’s board of non-listed holding entities. The move was done to prepare for the second-generation management and generational shift. The sons’ entrance to Celltrion’s board also comes after Seo resigned last year.

Maeil Kyeongje News reported that the eldest son, Seo Jin Seok, will be taking the vacated seat of his father as the board chairman of Celltrion Holdings. He was also assigned as the head of the company’s managing board last month during a shareholder’s meeting.

Finally, Seo Joon Serk, the younger brother of Jin Seok, will be the board director of Celltrion Healthcare Holdings, the largest shareholder of Celltrion Healthcare that was established only last year.