TOKYO, Jul 06 (Pulse News Wire) – RIBOMIC Inc. (4591.T) received notification of funding allocation totaling ¥17.7 million for the development of its achondroplasia treatment drug, umedaptanib pegol, under the Rare Disease Medicinal Product Research and Development Support Program for fiscal year 2026.
The program, managed by the National Institute of Biomedical Innovation, Health, and Nutrition, supports research and development costs necessary for manufacturing and marketing approval applications, up to half of eligible expenses per fiscal year for up to three fiscal years. Umedaptanib pegol is currently undergoing Phase III clinical trials, with the first patient enrolled as previously reported on July 02, 2026. The drug has shown significant growth-promoting effects in Phase II trials and was designated as an orphan drug by the Ministry of Health, Labour and Welfare on May 30, 2025.
Achondroplasia affects approximately one in every 25,000 newborns, making it a rare condition requiring effective treatments. RIBOMIC plans to accelerate development towards securing regulatory approval for umedaptanib pegol. The company expects minimal impact on its fiscal year ending March 2027 due to this funding.
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