Bridge Biotherapeutics to Expand Investment on R&D < Bio < - Korea Biomedical Review

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Bridge Biotherapeutics said Friday that it recorded sales of 1.3 billion won ($11.3 million) and a net loss of 11.7 billion won based on consolidated financial statements in the first half of this year.

The new drug developer added that it spent 9 billion won on research and development in the first six months.

In an online investor relation (IR) conference, Bridge Bio said the company drastically beefed up its R&D workforce as its primary pipelines progressed, and new pipelines were added, leading to a 45 percent increase in ordinary R & R&D expense. The number of R&D personnel also soared 64 percent, from 14 to 23.

Bridge Bios R&D pipelines include BBT-401, a drug candidate for ulcerative colitis undergoing phase 2a clinical trial in five countries, including the U.S., Korea, and Eastern Europe. Its results are to be announced in the next half of the year. In addition, it has almost completed preparing for the administration of drugs on patients in phase 1 trial in China.

Besides, BBT-176, being developed as a non-small cell lung cancer treatment, and BBT-207, a potential new drug developed for the first time by the company, will expand its anticancer pipelines. Also, BBT-877, under development as the first-in-class candidate material for idiopathic pulmonary fibrosis, is undergoing additional study based on a C-type meeting with the U.S. Food and Drug Administration.

Along with ongoing clinical trial agenda, we plan to build up a competitive portfolio by adopting new candidate material for anticancer and fibrosis therapies, CEO Lee Jung-kue said. Based on progress in new development and discovery tasks planned for this year, we will focus on strengthening the companys value as a new innovative drug developer.

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Bridge Biotherapeutics to Expand Investment on R&D < Bio < - Korea Biomedical Review