Bukwang Pharma subsidiary raises 3 billion won

Contera Pharma, a Danish subsidiary of South Korea based Bukwang Pharmaceutical, has attracted 3 billion won in Series A from Medici Investments. Conterapa expects JM-010, which is underway in Europe, to accelerate its Phase 2 clinical trials.

JM-010, developed by Contera Pharma, is a drug for the treatment of Parkinson's disease-induced levodopa anomalies (LID), which is mainly used by Parkinson's patients. As a new drug candidate for treatment, levodopa is effective for patients with Parkinson's disease, who develop abnormal dyskinesias such as dyspnea and muscle tension disorder that move the body irregularly over a long period of time appear. 

Conterapa, along with Bukwang Pharm, has conducted Phase I clinical trials in Korea and confirmed safety and efficacy in Germany. No specific side effects have been reported. Currently, the three countries in Europe (France, Germany, Spain) have begun the meeting for Phase 2 clinical trials and are scheduled to be completed within two years.