Daewoong Pharm launches V-OLET after 3-year patent dispute
The South Korean bioengineering company now aims to further expand its presence in the domestic and overseas markets with its second medical esthetic lineup following wrinkle remover Nabota.
According to sources on Monday, the Intellectual Property Trial and Appeal Board (IPTAB) finally accepted Daewoong Pharmaceutical’s claim against an unnamed American medical center, the original patent holder of local removal of fat accumulation without surgery, early this month.
Their dispute dates back to February 2018, when Daewoong Pharmaceutical argued the patent should be invalid because the invention related to the method for manufacturing a pharmaceutical composition for local removal of fat accumulation without surgery, including deoxycholic salt, has no novelty and non-obviousness, for which a patent is usually granted.
The IPTAB ruled partial nullification in August 2020, but the higher court, Patent Court of Korea, cancelled the ruling, saying all patent rights should be invalid.
V-OLET is indicated to reduce excessive jaw fat and improve protruded lower jaw in adults. In a Phase 3 clinical study in Korea, the product demonstrated safety and efficacy with 71.6 percent of the subjects showing improvement in jaw fat at week 12.
With the local launch, Daewoong Pharmaceutical will actively seek to export its latest esthetic medicine to overseas market.
Daewoong Pharmaceutical shares finished Tuesday up 1.76 percent at 144,500 won ($122.67) in Seoul.
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