Pacgen Biopharmaceuticals announced that it has entered into collaboration research and development agreements with New Summit Biopharma to develop PAC-113 for the treatment of oral candidiasis for commercialization in China
VANCOUVER, BRITISH COLUMBIA, CANADA | January 27, 2010 | Pacgen Biopharmaceuticals Corporation ("Pacgen" or the "Company") (TSX VENTURE:PGA) announced today that it has entered into collaboration research and development agreements with New Summit Biopharma Co. ("New Summit Bio"), to develop PAC-113 for the treatment of oral candidiasis for commercialization in China. Under the terms of the agreements, New Summit Bio will collaborate with Pacgen to raise funding and develop PAC-113 for the Chinese market.
Shanghai based New Summit Bio is a collaborative research organization focusing on providing research and development service and investment for new drug development in China. New Summit Bio offers total solutions to new drug commercialization by collaboration with major national science parks and integration of regional R&D resources. New Summit Bio is currently involved in 157 preclinical projects and 17 clinical projects. In addition, 15 projects are at new drug registration stage, 5 projects are undergoing commercial production, and 6 projects are expected to receive regulatory approval in China in 2010.
"Pacgen is very pleased to collaborate with New Summit Bio to develop PAC-113 for the Chinese market," said Dr. Y.C Lee, Chief Executive Officer of Pacgen. He added "China represents a key market potential for PAC-113, as the incidence of oral candidiasis in China has increased significantly in recent years due to extensive use of antibiotics." "The collaboration between Pacgen and New Summit Bio represents a new milestone in drug development between China and foreign countries. We are committed to working with Pacgen in raising fund, and coordinating the research and development with top R&D organizations to expedite development of PAC-113," said Dr. Jun Ren, Chief Executive Officer of New Summit Bio. "We believe PAC-113 has a significant market potential for the treatment of oral candidiasis in China," added Dr. Ren. Both parties intend to finalize their development plan after meeting with the Chinese regulatory department, State Food and Drug Administration.
About Pacgen
Pacgen is a life science technology transfer company focused on the commercial development of novel therapeutic drug candidates up to Phase II, proof of concept efficacy in human. Pacgen sources innovative therapeutic drug candidates globally, and develops these drug candidates in accordance to the United States Food and Drug Administration regulatory standards to feed the product development pipelines of the pharmaceuticals industry. Pacgen’s technology portfolio is composed of PAC-113, an anti-fungal for the treatment of oral Candidiasis, and PAC-G31P, a novel peptide therapeutic designed to treat inflammatory diseases characterized by non-beneficial neutrophil.
PAC-113 is a 12 amino-acid antimicrobial peptide derived from a naturally occurring histatin protein found in human saliva. This peptide alters the permeability of fungal cell membranes causing cell death. In June 2008, Pacgen announced positive results from its Phase IIb clinical trial demonstrating that PAC-113 is effective in the treatment of oral Candidiasis and compares favourably to the efficacy demonstrated by Nystatin, a current standard of care. PAC-G31P is a small recombinant protein that is a synthetic analogue of the human cytokine called Interleukin-8 which is the key chemokine involved in neutrophil recruitment. PAC-G31P is currently being investigated in preclinical studies for its potential to treat inflammatory diseases characterized by non-beneficial neutrophil. For additional information, please visit www.pacgenbiopharm.com.
SOURCE: Pacgen Biopharmaceuticals
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Pacgen Biopharmaceuticals announced that it has entered into collaboration research and development agreements with New Summit Biopharma to develop PAC-113 for the treatment of oral candidiasis for commercialization in China
VANCOUVER, BRITISH COLUMBIA, CANADA | January 27, 2010 | Pacgen Biopharmaceuticals Corporation ("Pacgen" or the "Company") (TSX VENTURE:PGA) announced today that it has entered into collaboration research and development agreements with New Summit Biopharma Co. ("New Summit Bio"), to develop PAC-113 for the treatment of oral candidiasis for commercialization in China. Under the terms of the agreements, New Summit Bio will collaborate with Pacgen to raise funding and develop PAC-113 for the Chinese market.
Shanghai based New Summit Bio is a collaborative research organization focusing on providing research and development service and investment for new drug development in China. New Summit Bio offers total solutions to new drug commercialization by collaboration with major national science parks and integration of regional R&D resources. New Summit Bio is currently involved in 157 preclinical projects and 17 clinical projects. In addition, 15 projects are at new drug registration stage, 5 projects are undergoing commercial production, and 6 projects are expected to receive regulatory approval in China in 2010.
"Pacgen is very pleased to collaborate with New Summit Bio to develop PAC-113 for the Chinese market," said Dr. Y.C Lee, Chief Executive Officer of Pacgen. He added "China represents a key market potential for PAC-113, as the incidence of oral candidiasis in China has increased significantly in recent years due to extensive use of antibiotics." "The collaboration between Pacgen and New Summit Bio represents a new milestone in drug development between China and foreign countries. We are committed to working with Pacgen in raising fund, and coordinating the research and development with top R&D organizations to expedite development of PAC-113," said Dr. Jun Ren, Chief Executive Officer of New Summit Bio. "We believe PAC-113 has a significant market potential for the treatment of oral candidiasis in China," added Dr. Ren. Both parties intend to finalize their development plan after meeting with the Chinese regulatory department, State Food and Drug Administration.
About Pacgen
Pacgen is a life science technology transfer company focused on the commercial development of novel therapeutic drug candidates up to Phase II, proof of concept efficacy in human. Pacgen sources innovative therapeutic drug candidates globally, and develops these drug candidates in accordance to the United States Food and Drug Administration regulatory standards to feed the product development pipelines of the pharmaceuticals industry. Pacgen’s technology portfolio is composed of PAC-113, an anti-fungal for the treatment of oral Candidiasis, and PAC-G31P, a novel peptide therapeutic designed to treat inflammatory diseases characterized by non-beneficial neutrophil.
PAC-113 is a 12 amino-acid antimicrobial peptide derived from a naturally occurring histatin protein found in human saliva. This peptide alters the permeability of fungal cell membranes causing cell death. In June 2008, Pacgen announced positive results from its Phase IIb clinical trial demonstrating that PAC-113 is effective in the treatment of oral Candidiasis and compares favourably to the efficacy demonstrated by Nystatin, a current standard of care. PAC-G31P is a small recombinant protein that is a synthetic analogue of the human cytokine called Interleukin-8 which is the key chemokine involved in neutrophil recruitment. PAC-G31P is currently being investigated in preclinical studies for its potential to treat inflammatory diseases characterized by non-beneficial neutrophil. For additional information, please visit www.pacgenbiopharm.com.
SOURCE: Pacgen Biopharmaceuticals
Post Views: 46
