LeaderMed Group (LeaderMed), a global pharmaceutical development company, and Combiphar, a leading Indonesian pharmaceutical company in Southeast Asia, announce the formation of a joint venture (JV) to conduct the Phase 3 clinical trial of LM-008, a novel GLP-1 dual agonist, in Indonesia. LeaderMed and Combiphar will also collaborate to bring to the Indonesian market many other metabolic health related treatments, including UltraSculpt. UltraSculpt is a cutting-edge body contouring treatment for targeted fat reduction and skin tightening, which has received strong consumer demand both as a standalone treatment as well as a complementary treatment to LM-008.

This strategic collaboration underscores the significant market potential in Indonesia, a country with one of the highest diabetes prevalence rates and the fourth largest population globally. With over 36 million diabetes patients, representing 13% of the Indonesian population, and with one in every three adults being overweight or obese, Indonesia has an urgent need for effective and affordable treatment options. LM-008, with its unique safety and efficacy profile, will be a one-of-a-kind diabetes and/or obesity treatment in the Indonesian market, and is poised to meet this critical need. Additionally, The Indonesian Ministry of Health, under Minister Budi Gunadi Sadikin, has given guidance on accelerated approval for LM-008, with the Phase 3 clinical trial expected to commence in late 2024. This endorsement is a testament to the drug’s potential and the government’s commitment to addressing the country’s diabetes and obesity crisis.

"We are excited to partner with Combiphar on this critical initiative," said Dr. Joanne Jiang, Chief Executive Officer of LeaderMed Group. "The unique mechanism of the drug and the diabetes and/or obesity profiles of Indonesian and Southeast Asian patients are well matched, and our collaboration with Combiphar will allow us to bring LM-008 and UltraSculpt to market quickly and effectively, addressing the significant unmet need in this region."

"Combiphar is proud to collaborate with LeaderMed on this groundbreaking project," added Michael Wanandi, Chief Executive Officer of Combiphar Indonesia. "This is a significant milestone in bringing innovative treatments to Southeast Asia to improve and save the lives of millions of patients, and we are committed to ensuring its success through this joint venture," Michael revealed.