Daewoong, Oscotec to develop new natural pharmaceutical product for arthritis

Daewoong Pharm said on September 10 that it has signed a memorandum of understanding with Oscotec Inc., a local bone specialized bioengineering company to develop BT-201, a natural drug candidate for treatment of arthritis. The lead compound was funded by the government until 2006.

Under the agreement, Daewoong is to provide an upfront payment to Oscotec.

Following commercialization of th...