RGN-259 is a sterile, preservative-free topical eye drop for ophthalmic indications whose active ingredient is Thymosin beta 4 (TB4).
The company will receive a $5.92m investment from Global Pharmaceutical Industry Development Fund to support selected Korean pharma or bioventure firms developing new drugs for the global market.
The fund was created by the Korean Ministry of Health and Welfare and is managed by InterVest, a healthcare venture capital firm in Korea.
Additionally, the company will also secure $1.36m investment from E&Investment, a Korean venture capital firm.
The total fund will be used to develop RGN-259/GBT-201 for dry eye syndrome and neurotrophic keratopathy in the US through a recently created US joint venture between G-treeBNT and RegeneRx, ReGenTree.
Commenting on the investment, RegeneRx president and chief executive officer JJ Finkelstein said: "This will provide a sizable amount of new capital for the joint venture and should definitely expedite clinical development."
RGN-259 is a sterile, preservative-free topical eye drop for ophthalmic indications whose active ingredient is Thymosin beta 4 (TB4).
In two US Phase II clinical trials conducted in patients with moderate and severe dry eye syndrome, RGN-259 showed significant improvements in several signs and symptoms of dry eye, as well as positive trends in other outcome measures.