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New drug approval and launch
Key players in the market are actively pursuing approvals for their innovative drugs designed to treat treatment resistant depression and subsequently launching them in the market. These efforts are anticipated to significantly contribute to market growth in the coming years. For instance, Denovo Biopharma LLC, a clinical-stage biopharmaceutical company specializing in biomarker-driven precision medicines, received authorization from the U.S. Food and Drug Administration (FDA) in January 2022 for its investigational new drug (IND) application of DB104 (liafensine) for treatment resistant depression (TRD). This milestone allows Denovo to initiate a global Phase 2b clinical trial to evaluate the safety and effectiveness of liafensine in TRD patients.
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