NeuroBo Pharma Inks Pact with MThera Pharma To treat Diabetic Neuropathy

NeuroBo Pharmaceuticals, Inc., a biotech company in the clinical stage that specializes in addressing cardiometabolic diseases, revealed the completion of a unique licensing deal with MThera Pharma Co., Ltd. (MTHERA) has the rights to NB-01 for treating painful diabetic neuropathy.

The agreement permits MTHERA to carry out research and clinical trials, including a possible phase 3 clinical trial in the United States and South Korea, towards the future marketing of NB-01. The financial details of the agreement were not made public.

"Finalizing this agreement for NB-01 is an important milestone for NeuroBo, reflecting our stated commitment to out-license our legacy assets in order to focus on the continued clinical development of DA-1726 and DA-1241," stated Hyung Heon Kim, president and chief executive officer of NeuroBo. "MTHERA has extensive experience in manufacturing, quality control and clinical development of natural medicines and botanical drugs, making the company an ideal partner to continue the development of NB-01."

"Based on the positive phase 2 efficacy results for NB-01 for diabetic neuropathy, we intend to develop it as a potential treatment for peripheral diabetes," stated Dr. Mi Won Sohn, chief executive officer of MTHERA. "Utilizing our SyMthomics platform technology, we can clearly identify the mechanism of action and active ingredients of NB-01 to assist in predicting its clinical efficacy as an innovative treatment, with the intent of advancing NB-01 into the next phase of clinical development. We are grateful to NeuroBo for the opportunity to further advance NB-01, and to potentially bring this promising therapy to patients in need."

Based in Seoul, South Korea, MThera Pharma Co., Ltd. is focusing on creating innovative botanical drug treatments for chronic incurable diseases like Parkinson's disease, dementia, and inflammatory bowel disease, utilizing unique multi-component/multi-target-driven therapies to target various causes of the conditions.