Aida Pharmaceuticals Receives Approval and Commences Phase II Trials of Potential Cancer Treatment
- Category: Proteins and Peptides
- Published on Wednesday, 10 January 2007 02:00
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HANGZHOU, China | Jan 09, 2006 | Aida Pharmaceuticals, Inc. (OTC Bulletin Board: AIDA - News), one of mainland China's leading pharmaceutical companies, today announced that the State Food and Drug Administration (SFDA) of China has officially approved the commencement of Phase II clinical trials of the genetic cancer treatment Rh-Apo2L,the Category A biopharmaceutical currently in development phase by the Company's subsidiary Shanghai Qiaer Biotechnology Co., Ltd..
Aida Pharmaceuticals previously announced its plans to begin Phase II trials throughout mainland China this year. These trials will take place in approximately 20 hospitals in major metropolitan candidate areas including Beijing, Tianjin, Shanghai, Hangzhou, Nanjing, Suzhou, Fuzhou, Hefei, Jinan, Chengdu, Changsha, Wuhan, Dalian and Guangzhou. The Phase II trials will analyze the effect of Rh-Apo2L on two types of tumors chosen from the following cancers: advanced inert lymphoma, malignant melanoma, soft tissue sarcoma, pancreatic cancer, kidney cancer, non-small cell lung cancer and colorectal cancer. The trials will analyze the specific efficacy of Rh-Apo2L in approximately 100 patients. Additionally, the Company will continue to analyze the dosage and effectiveness of the drug as well as other drugs' interactions with Rh-Apo2L.
Chairman of Aida Pharmaceuticals, Jin Biao stated, "This approval will allow us to contiguously move forward with our development plans for Rh-Apo2L. This potentially revolutionary cancer treatment has received a great deal of attention this year including awards and grants from the state and federal governments. Last quarter, Aida announced plans to build a GMP certified manufacturing facility for Rh-Apo2L. The facility will be built in the Jianggan Hi-Tech development zone in Hangzhou, China. We remain on track to break ground on the project early this year and we anticipate the phase I construction to be completed by year-end 2007. This facility will have the final capacity to produce up to eight million doses of Rh-Apo2L. We believe that we have the resources and man power to finish Phase II and Phase III trials in order to bring Rh-Apo2L to market by 2008. In its first year of production, pending all necessary approvals and allowances, we believe Rh-Apo2L will generate potential EBITDA of $50 million on potential sales of $75 million."
Rh-Apo2L is Category A, anti-tumor biological agent researched and developed by Shanghai Qiaer Biotechnology Co., Ltd., a newly acquired subsidiary of Aida Pharmaceuticals. Rh-Apo2L is a broad spectrum genetic cell apoptosis (cell- killing) agent, which the Company expects to be used for the treatment of a variety of cancerous tumors. Research and Development of Rh-Apo2L is sponsored and supported by several national and municipal funds. One patent of Rh-Apo2L has been granted by Chinese Patent Bureau, two additional patents are currently in process. To learn more about Rh-Apo2L, please visit http://www.equityperformancegroup.com/aida_einvestor_kit/QiaerBiotechFAQ.pdf .
About Aida Pharmaceuticals:
Aida Pharmaceuticals is a product-focused pharmaceuticals company engaged in the formulation, clinical testing, registration, manufacture, sales and marketing of advanced pharmaceutical and genetic products in mainland China. The Company's mission is to discover, develop and market meaningful new therapies that improve human health. Aida Pharmaceuticals, in operation since March 1999, is headquartered in Hangzhou, China with manufacturing, distribution and sales points throughout mainland China. Aida is GMP certified in China and ISO9002 certified for quality assurance and ISO14000 certified for ecologically-friendly practices. Aida is now producing and marketing a patented prescription drug in China: Etimicin Sulfate. It is the first antibiotic developed in China and is regarded as a category "A" drug by the State Food and Drug Administration of China.
Aida Pharmaceuticals, Inc.
31 Dingjiang Road
Hangzhou, China 310016
Equity Performance Group
Safe Harbor Statement:
Under the Private Securities Litigation Reform Act of 1995: This press release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on Aida Pharmaceuticals, Inc.'s management's current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to Aida Pharmaceuticals, Inc. as of the date of the press release, and it assumes no obligation to update or alter its forward looking statements whether as a result of new information, future events or otherwise. These forward-looking statements may relate to, among other things, plans and timing for the introduction or enhancement of our services and products, clinical trial results, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Further information on risks or other factors that could affect Aida Pharmaceuticals, Inc.'s results of operations is detailed in its filings with the United States Securities and Exchange Commission available at http://www.sec.gov.
SOURCE: Aida Pharmaceuticals, Inc.