HONG KONG, Feb. 18 /PRNewswire-Asia/ -- Obio Pharmaceutical Holdings Ltd ("Obio"/ "the Company") announced its business growth ticket to the international pharmaceutical arena. With a strong product pipeline in drug development, backed up by strong international investors including Yangtze Ventures Limited (New World Group, Shui On Group, Tai Sang Land Properties Limited, Yu Hwa Chinese Products Group, YangtzeKiang Garment Manufacturing Company Limited), Avanta Capital, Group of prominent Swiss investors, Simplex Capital Fund (Korea based), Japanese investors Mr. Haruyoshi Taguchi and Mr. Takatoshi Nakamura, PE Lifestyle (HK) Limited (subsidiary of Singapore listed company -- Goldtron Limited), Obio is taking off and adopting more aggressive measures to drive the growth of the Company.
The research based emerging pharmaceutical company has just had a facelift by appointing seasoned pharmaceutical executives to the Board so as to further overhaul its research and development activities and heighten its competitive edge. External research collaborations will continue to be the pillars of the Company to boost innovations and confirm experimental data in the future.
Mr. Abraham Chan, Director of the Company, said on the press conference of the Company dated February 9, 2009, "Obio plans to reinforce the global development strategy by focusing its researches on the globally prevalent but underserved diseases such as diabetes and influenza."
Amongst the drug candidates in the portfolio relating to the influenza virus and life-style diseases, Obio has managed to get two drugs patented at present. Drug DC9703, which targets Diabetes II, has been granted patents in USA and South Africa. The Company has also successfully patented the AK20 in China, which treats Nonalcoholic Steatohepatitis (NASH/ nonalcoholic fatty liver disease).
Besides the two patented drugs, Obio has also discovered an antiviral drug candidate -- TG21 that could tackle avian and human influenza virus. Thanks to the US Food and Drug Administration (FDA) and EU European Medicines Agency (EMA) previous approval of the active ingredient of TG21 as an orphan drug, its safety profile is assured. As cases of resistance to the mainstream medical intervention -- Tamiflu are on the rise, TG21 can be considered an alternative drug preparing for possible pandemic threat. TG21 works on a different mechanism to that of both Tamiflu and Relenza, which are Neuraminidase Inhibitors. TG21 does not work on the same target so the influenza virus is less likely to develop resistance to TG21.
A US Patent Attorney has prepared a patentability report for TG21, application of patents has also been filed on TG21 and pending approval. As a drug research and discovery company, Obio is in process to apply for a fast track mode to accelerate drug registration given the needs of effective treatment for lethal influenza viruses are unmet, and actively negotiating partnership with large pharmaceuticals companies to produce the drug.
Apart from the aforementioned drug candidates, the Company continues to push research of its candidates in life-style and Parkinson disease arenas. The Company believes that its research focus will achieve the Company vision to research and develop novel drugs, and bring them into the market through co-development with other prestigious pharmaceutical companies.
Dr. Bill Chan, Director and Chief Technical Officer of the Company, said, "All the drug candidates on hand should be able to capture the attention from the pharmaceutical industries. Some of them have high chance to become blockbuster drugs after analyzing the market demand. Now, Obio holds all the aces and ready to launch its products; the growth strategy in launching the blockbuster drugs together with other pharmaceutical companies will certainly accelerate the company growth and could then further reinvest in the drug discovery process."
Mr. K C Cheng, Director and Chief Financial Officer said, "Obio's board is satisfied with the current development and strives to achieve the Company's mission by putting the company onto a listed company platform as soon as possible and continues to research, develop and commercialize novel medicines for the underserved diseases affecting millions of patients worldwide."
About Obio Pharmaceutical Holdings Limited
Obio is a Hong Kong-based international pharmaceutical company. Obio targets to research, develop and commercialize novel medicines for the underserved diseases affecting millions of patients worldwide. Obio is a knowledge-based, technology driven pharmaceutical company, dedicated to the research and development of novel drugs, and bringing them into the market through co-development with other prestigious pharmaceutical companies. Obio's research center is located at Beijing and researches are often contracted to outside prestigious medical institutes for confirmation of experiment data. Details please refer to http://www.obiopharma.com .
For more information, please contact: JOVIAN Financial Communications Ltd Angel Y Y Yeung / Alice Choi Tel +852-2154-7810 Fax: +852-2854-2012 Email: firstname.lastname@example.org / email@example.com
|SOURCE Obio Pharmaceutical Holdings Limited|
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