Chung Mei Biopharma Co Ltd (中美生技醫藥) yesterday inked a technology transfer agreement with the Development Center for Biotechnology (DCB, 生物技術開發中心) to commercialize DCB-BO130, a new botanical drug for melanoma, the most dangerous type of skin cancer.
The drug is made from extracts of Crassocephalum crepidioides, a common herb also known as fireweed.
The herb’s anti-inflammatory properties were discovered by Academica Sinica researchers, who passed their findings on to the center for further research, Chung Mei Biopharma chairman Lin Ben-yuan (林本源) said, adding that the transfer represents the nation’s biggest-ever technology transfer agreement.
The US Food and Drug Administration (FDA) on March 20 approved DCB-BO130’s phase 1b/2a clinical trials, the company said, adding that it plans to seek permission from local health authorities to begin clinical trials before the end of the year.
The drug is expected to gain New Drug Application approval from the FDA in the third quarter of 2024, the company said.
To speed up commercialization efforts, Chung Mei Biopharma is planning to apply for Orphan Drug Designation from the FDA next year to gain prioritized clinical trial reviews and other benefits such as tax exemptions and 10-year exclusivity, the company said.
In addition, Chung Mei Biopharma is to develop DCB-BO130 as a combination treatment for melanoma and develop supplement products based on the herb’s anti-inflammatory attributes, it said.
The company hopes to offer the drug at a more accessible price than existing melanoma treatments, which can cost from NT$100,000 to NT$1.28 million (US$3,315 to US$42,432) per month, it said.
Botanical drugs have significantly lower toxicity and less side effects than conventional, small-molecule drugs, and their market potential remains relatively untapped, DCB president and chief operating officer Lawrence Gan (甘良生) said.
The market for botanical drugs is expected to reach US$26.6 billion by the end of this year, while the market for melanoma treatments is expected to surge from US$1.34 billion to US$5.64 billion by 2023, Gan said.
Founded in 2014, Chung Mei Biopharma is an affiliate of Chung Mei Enterprise Group (中美集團), which is headed by its flagship unit, Chung Mei Pharmaceutical Co Ltd (中美兄弟製藥), a drug manufacturer that was founded in 1936 and produces Taiwan’s top-selling stool softeners and treatments for parasitic roundworm.
Lin, who is also president of Chung Mei Pharmaceutical, said that Chung Mei Biopharma is seeking to make its debut on the local bourse through its new drug development affiliate.
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
‘IMMENSE SWAY’: The top 50 companies, based on market cap, shape everything from technology to consumer trends, advisory firm Visual Capitalist said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) was ranked the 10th-most valuable company globally this year, market information advisory firm Visual Capitalist said. TSMC sat on a market cap of about US$915 billion as of Monday last week, making it the 10th-most valuable company in the world and No. 1 in Asia, the publisher said in its “50 Most Valuable Companies in the World” list. Visual Capitalist described TSMC as the world’s largest dedicated semiconductor foundry operator that rolls out chips for major tech names such as US consumer electronics brand Apple Inc, and artificial intelligence (AI) chip designers Nvidia Corp and Advanced
Saudi Arabian Oil Co (Aramco), the Saudi state-owned oil giant, yesterday posted first-quarter profits of US$26 billion, down 4.6 percent from the prior year as falling global oil prices undermine the kingdom’s multitrillion-dollar development plans. Aramco had revenues of US$108.1 billion over the quarter, the company reported in a filing on Riyadh’s Tadawul stock exchange. The company saw US$107.2 billion in revenues and profits of US$27.2 billion for the same period last year. Saudi Arabia has promised to invest US$600 billion in the US over the course of US President Donald Trump’s second term. Trump, who is set to touch
SKEPTICAL: An economist said it is possible US and Chinese officials would walk away from the meeting saying talks were productive, without reducing tariffs at all US President Donald Trump hailed a “total reset” in US-China trade relations, ahead of a second day of talks yesterday between top officials from Washington and Beijing aimed at de-escalating trade tensions sparked by his aggressive tariff rollout. In a Truth Social post early yesterday, Trump praised the “very good” discussions and deemed them “a total reset negotiated in a friendly, but constructive, manner.” The second day of closed-door meetings between US Secretary of the Treasury Scott Bessent, US Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng (何立峰) were due to restart yesterday morning, said a person familiar
RSS