Seoul: SK Biopharmaceuticals Co., the biopharmaceutical arm of SK Group, announced that it has obtained approval to market two of its new drugs in China, marking a significant step towards its expansion in the neighboring country.

According to Yonhap News Agency, the new drug application (NDA) approvals were granted roughly one year after Ignis Therapeutics, a joint venture between SK Biopharmaceuticals and global investment firm 6 Dimensions Capital, submitted applications last December for the epilepsy treatment Cenobamate and the sleep-disorder drug Solriamfetol. Ignis Therapeutics, in which SK Biopharmaceuticals owns a 41 percent stake, will manage the development and commercialization of both drugs in China.

SK Biopharmaceuticals CEO Lee Dong-hoon stated that the approval is a result of their long-term collaboration with Ignis Therapeutics and marks a critical milestone in the global expansion of Cenobamate and Solriamfetol. China represents one of the world's largest markets for epilepsy drugs, with an estimated 11 million people affected by the condition and a market value projected at US$1.1 billion in 2024.

Additionally, China has an estimated 170 million people with obstructive sleep apnea (OSA), positioning Solriamfetol as a potential treatment for individuals suffering from excessive daytime sleepiness associated with OSA.