Research Based Emerging Pharmaceutical Company Now with Two Patented Drugs & Multinational Investor Pool and Prominent Research Team Drive Novel and Safe Blockbuster Antiviral Influenza Drug Discovery to Be Launched in 2011
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 .
