Owl Bio Selected for Scale-up TIPS... Speeds Up Development of Once-Monthly Obesity Treatment
OWL Bio, a company specializing in long-acting injectable (LAI) formulations, announced on July 31 that it has been selected as a final recipient for the Ministry of Health and Welfare’s “Scale-up TIPS” program.
With this national project selection, the company will receive a total of 4 billion won in research and development funding, including 3 billion won in government support. The funding will be dedicated to a phase 1 clinical trial for a "once-monthly sustained-release GLP-1 receptor agonist peptide obesity treatment."
OWL Bio aims to complete a global phase 1 clinical trial for its obesity treatment injection using its proprietary drug delivery platform technology, X-Tina. The once-monthly sustained-release formulation reduces the injection frequency from the existing weekly administration to once a month, significantly improving patient convenience. The formulation eliminates excessive initial drug release—a factor identified as a major cause of side effects—and allows the use of ultra-fine needles, which helps reduce pain during administration.
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OWL Bio plans to expedite completion of the global phase 1 clinical trial for this pipeline and accelerate technology transfer agreements with global pharmaceutical companies. A company representative stated, “We will focus the government funding on the phase 1 clinical trial to speed up development and also intensify preparations for partnerships with global pharmaceutical firms and for a KOSDAQ listing through the special technology track.”
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