Autotelic Bio announced on the 2nd that its 'ATB-101', a FDC (fixed dose combination) new drug for chronic diseases, has been approved by the Ministry of Food and Drug Safety for phase 1 clinical trial. It also announced the signing of a joint development contract with Firson on the same day.

Autotelic Bio's new drug ATB-101 is the world's first candidate to treat diabetes and hypertension at the same time, proving the synergistic effect on the treatment of circulatory diseases in animal models, and based on the results, a composition patent was also obtained in January 2019. Currently, there is not a single combination treatment for diabetes and hypertension in the market, providing Autotelic Bio broader opportunities to enter into a new market.

Phase 1 clinical trials will be conducted at domestic clinical trial institutions to confirm safety and pharmacokinetic characteristics. Autotelic Bio signed a joint development contract for ATB-101 with Jeil Pharmaceutical in January 2019, followed by an additional joint development contract with Firson. 

Through this agreement, Firson will cooperate with Autotelic Bio for the commercialization of ATB-101, and Autotelic Bio will receive an upfront fee and milestone payment from Firson, as well as sales-based royalties during the contract period. 

Autotelic Bio has distribution right for domestic and global territories (excluding China and Japan), while Jeil Pharmaceutical has distribution right for China and Japan. ATB-101 is expected to be launched in the first half of 2024.