TaiGen Announces FDA Approval of IND for Its Flu Antiviral TG-1000
TAIPEI, Taiwan, Nov. 1, 2020 /PRNewswire/ -- TaiGen Biotechnology Company, Limited ("TaiGen") (Taiwan: 4157) announced today that U.S. Food and Drug Administration ("FDA") has approved the Investigation New Drug (IND) application for TG-1000, a novel treatment for influenza A and B.
TG-1000 is a novel pan-influenza antiviral, which interrupts viral replication and transmission via a cap-snatching mechanism and is able to do this effectively against influenza-A, influenza-B, avian flu H7N9, and Tamiflu-resistant viruses. The first US patent for TG-1000 was successfully prosecuted and granted by the United States Patent and Trademark Office on Jan 14th, 2020.
Kuo-Lung Huang, the Chairman and CEO of TaiGen notes, "Influenza is a life threatening disease with significant unmet medical needs and high medical burden. With the IND approval in place, we are ready and eager to extend the clinical study of TG-1000 to the U.S. in the near future."
According to Global Data, the global market for influenza antivirals reached 2.34 billion USD in 2019 and is estimated to reach 5.03 billion USD by 2026 at a CAGR of 11.5%. Currently the market is comprised primarily of the neuraminidase inhibitor oseltamivir and the newly developed endonuclease inhibitor baloxavir. With the recent introduction of baloxavir into the market, institutional investment analysts expect the market share of endonuclease inhibitors to increase at the expense of neuraminidase inhibitors. TaiGen's TG-1000 is poised to take full advantage of this development.
About TaiGen Biotechnology
TaiGen Biotechnology is a leading research-based and market-driven biotechnology company in Taiwan with a wholly-owned subsidiary in Beijing, China. In addition to TG-1000, TaiGen has three other in-house discovered NCEs: Taigexyn®, a novel non-fluorinated quinolone available in both oral and intravenous formulations, TG-3000, a chemokine receptor antagonist for stem cell transplantation and chemosensitization, and Furaprevir, a HCV protease inhibitor for treatment of chronic hepatitis infection. Taigexyn® is already on the market in the mainland China and Taiwan, TG-3000 has completed Phase 2 clinical studies, and Furaprevir is currently in Phase 3 clinical development.