(MENAFN- GlobeNewsWire - Nasdaq) JAKARTA, Indonesia and NEW YORK, Sept. 30, 2024 (GLOBE NEWSWIRE) -- LeaderMed Group (LeaderMed), a global Pharmaceutical development company, and Combiphar, a leading Indonesian pharmaceutical company in Southeast Asia, announce the formation of a joint venture (JV) to conduct the Phase 3 clinical trial of LM-008, a novel GLP-1 dual agonist, in Indonesia. LeaderMed and Combiphar will also collaborate to bring to the Indonesian market many other metabolic health related treatments, including UltraSculpt. UltraSculpt is a cutting-edge body contouring treatment for targeted fat reduction and skin tightening, which has received strong consumer demand both as a standalone treatment as well as a complementary treatment to LM-008.
This strategic collaboration underscores the significant market potential in Indonesia, a country with one of the highest diabetes prevalence rates and the fourth largest population globally. With over 36 million diabetes patients, representing 13% of the Indonesian population, and with one in every three adults being overweight or obese, Indonesia has an urgent need for effective and affordable treatment options. LM-008, with its unique safety and efficacy profile, will be a one-of-a-kind diabetes and/or obesity treatment in the Indonesian market, and is poised to meet this critical need. Additionally, The Indonesian Ministry of Health, under Minister Budi Gunadi Sadikin, has given guidance on accelerated approval for LM-008, with the Phase 3 clinical trial expected to commence in late 2024. This endorsement is a testament to the drug's potential and the government's commitment to addressing the country's diabetes and obesity crisis.
"We are excited to partner with Combiphar on this critical initiative," said Dr. Joanne Jiang, Chief Executive Officer of LeaderMed Group. "The unique mechanism of the drug and the diabetes and/or obesity profiles of Indonesian and Southeast Asian patients are well matched, and our collaboration with Combiphar will allow us to bring LM-008 and UltraSculpt to market quickly and effectively, addressing the significant unmet need in this region."
"Combiphar is proud to collaborate with LeaderMed on this groundbreaking project," added Michael Wanandi, Chief Executive Officer of Combiphar Indonesia. "This is a significant milestone in bringing innovative treatments to Southeast Asia to improve and save the lives of millions of patients, and we are committed to ensuring its success through this joint venture," Michael revealed.
About LM-008
LM-008 is a globally patented GLP-1 GCGR dual agonist to be developed, manufactured, and commercialized by LeaderMed. It is designed to reduce HbA1c levels and improve lipid profiles, conditions that are highly prevalent in diabetes and/or obesity patients. With its dual-targeted mechanism, LM-008 regulates blood glucose levels, appetite, and basal metabolism in a holistic way to achieve a safer, more efficacious treatment solution for patients.
About UltraSculpt
UltraSculpt is a globally patented and FDA cleared non-invasive body contouring device fine-tuned over 7 years of R&D to permanently reduce stubborn fat pockets and increase skin tightness. Clinical studies show UltraSculpt reduces waistlines by 3-7 cm in one 30-minute, painless treatment.
About LeaderMed Group
LeaderMed Group is a pharmaceutical development company with global operations focused on metabolic health and increasing patient quality of life. It has extensive new drug development experience and successful global approval and launch history. For more information, visit .
About Combiphar
Known as a pharmaceutical company in Indonesia, Combiphar was founded in 1971. Currently Combiphar is transforming into a leading consumer health company in Indonesia and growing rapidly as a leading pharmaceutical company in Southeast Asia, dedicated to "Championing a Healthy Tomorrow". For more information, visit .
Contact:
Grace Chen, 732-692-4675
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