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Kringle Pharma Submits IND Application for Spinal Cord Injury Drug to U.S. FDA; Shares Jump 7%

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Kringle Pharma (TYO:4884) submitted an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) to initiate a phase three clinical trial in the U.S. for acute spinal cord injury drug oremepermin alfa.

The proprietary recombinant human HGF therapeutic, Oremepermin alfa, completed phase one/two and phase three trials in Japan for acute spinal cord injury, the late-stage clinical biopharmaceutical company said in a Thursday filing with the Japan bourse.

The company is carrying out an additional Phase 3 trial to support a future regulatory submission, while the drug has secured orphan drug designation for acute SCI in Japan, the U.S. and Europe, it said.

Shares of Kringle Pharma added nearly 7% in recent trade.

What else is happening in Asia?

Asia

Beijing Compass Technology Development Seeks Up to 500 Million Yuan in Bank Credit Lines

The board of Beijing Compass Technology Development (SHE:300803) approved applications for comprehensive credit lines from three banks to fund working capital loans and related business needs, according to a Wednesday aftermarket filing with the Shenzhen bourse.The company will seek up to 250 million yuan from Agricultural Bank of China with a one-year term, up to 150 million yuan from Xiamen International Bank with a three-year term, and up to 100 million yuan from Industrial Bank with a one-year term.Shares of the investment software developer were down 2% in recent trade.

SHE:300803
Asia

Liquidators Issue Final Notice to Creditors for ST Group Units' Dissolution

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SGX:DRX
Asia

South Korean President, Trump Discuss Warships Construction

South Korean President Lee Jae Myung and U.S. President Donald Trump met on Tuesday on the sidelines of the UN General Assembly to discuss defense and industrial collaboration, including naval shipbuilding.Lee said he expects tangible results from the bilateral partnership, highlighting South Korea's growth strategy in semiconductors, artificial intelligence, and the "7 SEED" initiative targeting small modular reactors, nuclear fusion, and renewables, according to a press release from the South Korean president's office on Wednesday.

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