The peptic ulcer therapeutics market is expected to reach $47.7 billion globally by 2030, with gastric ulcers growing at a CAGR of up to 3%. By product, the proton pump inhibitor (PPI) segment holds the largest share, but the emergence of high CAGR products such as P-CABs is expected to accelerate the expansion of the market. In 2023, outpatient prescriptions for PPIs in Korea are expected to reach 690 billion won, with a growth rate of 3%, but prescriptions for P-CABs are expected to reach 210 billion won, with a growth rate of 48% year-on-year. The global P-CAB market is also expected to reach 1.87 trillion won in 2030, with a CAGR of 25.7%.

P-CAB represents a novel class of drugs effectively inhibiting gastric acid secretion. It achieves this by competitively binding K+ ions to H+/K+-ATPase without the need for activation by gastric acid, rapidly and strongly suppressing gastric acid secretion. Furthermore, it acts on both active and inactive H+/K+-ATPase and is characterized by low individual variability and drug-drug interaction potential compared to PPIs, which are predominantly metabolized by CYP2C19. P-CAB is acid stable, resulting in a long gastric residence time, prolonged duration of action and convenience of use independent of meals.

ID120040002 (padoprazan) entered the clinic based on the remarkable efficacy and safety profile and successfully confirmed tolerability, pharmacokinetic and pharmacodynamic profiles in the Phase 1 study. The IND for the Phase 2 trial in ERD has been approved in 2024H1 (MFDS) and the trial is now underway. In addition, we signed a research collaboration agreement with Daewon Pharmaceutical in May 2024, which is expected to further accelerate development.