MegaPro Biomedical completed capital increase and introduced new strategic partners
MegaPro Biomedical is a start-up company focusing on the development of nano drug dosage forms and has successfully used its nano-cell drug platform to develop new drugs and completed a number of pre-clinical developments. Since 2017, Giant Biomedical has negotiated with China Chemical & Pharmaceutical Co. (1701) for strategic collaboration and in discussion for the use of technology platforms and enhance the value of products. Sinochem is optimistic about the development of Giant Biomedical and the potential of the nano drug dosage form market, and therefore participated in the series D fundraising of MegaPro, becoming an important strategic partner; in addition to investing in the equity of Giant Biomedical, China Chemical & Pharmaceutical Co. has also obtained the authorization of Giant Biomedical's nano-cell technology to promote the development of future products and accelerate the mass production and marketing of listed products.
Dr. Jassy Wang, general manager of MegaPro Biomedical, states that the company's nano-cell technology mainly uses the coating technology of hydrophobic drugs through polymers. Converting hydrophobic drugs to hydrophilic drugs and maintain nanoscale size, the drugs have the advantages of reducing side effects of hydrophobic drug solvents, increasing dosage and slow release. The addition of China Chemical & Pharmaceutical Co. will draw the company's future development items closer to market demand and accelerate the development of more new dosage forms or new applications. It is envisioned that MegaPro will become a leader in the development of nano-drugs.
At present, MPB-1734, the first product of the nanocell technology platform, has completed the company's internal development preparations, and phase I clinical trials are expected to begin in 2020. The other two MegaPro products in the second phase of clinical trials have also made breakthroughs. MPB-1514 is currently the only injection-type iron preparation made of non-sugars on the market.
Trials with 30 subjects have been completed so far; MPB-1523 MRI hepatocellular carcinoma contrast agent has also completed the acceptance of 30 subjects so far, and the aforementioned two clinical trials are expected to be completed in 2020. The development of each item is going smoothly, and the prospects of development are promising.