Shares in biotechnology firm CHO Pharma Inc (醣基生醫), which specializes in glycan-based technology platforms, saw brisk trading yesterday during its debut on the Taipei Exchange’s (TPEX) Emerging Stock Board.
The stock jumped to an intraday high of NT$107 from its opening price of NT$50 before closing at NT$83 in its first session with more than 6.38 million shares changing hands.
The company is developing glycan-based antibody and vaccine treatments for a variety of cancers, as well as influenza and autoimmune diseases.
A vaccine for refractory or relapsed follicular lymphoma called CHO-H01 has made the most headway, as the US Food and Drug Administration has given the green light to conduct a phase I clinical trial in the US, which is expected to begin next quarter, the company said.
The company is also developing CHO-A04, a broad-spectrum cancer antibody that is engineered to kill cancer cells in more than 10 cancer types by targeting novel carbohydrate antigens, it said.
The treatments are based on the findings of former Academia Sinica president Wong Chi-huey (翁啟惠), who is recognized as a pioneering researcher in glycoscience and carbohydrate chemistry.
While Wong has been caught in the fallout of the controversy surrounding OBI Pharma Inc (浩鼎), whose breast cancer immunotherapy is also based on his research into carbohydrate antigens, market observers remain upbeat on CHO Pharma Inc’s advantage in the field, where its rivals remain challenged by significant technical barriers.
CHO Pharma reported a net loss of NT$134.57 million (US$4.44 million) in the first half of this year, which widened from a net loss of NT$102.36 million a year earlier.
Separately, EirGenix Inc (台康生技), a joint venture between government agencies and private sector investors, on Tuesday announced that its has received clearance from the Ministry of Economic Affair’s Industrial Bureau to proceed with plans to seek listing on the Taipei Exchange.
The company is focused on biosimilar development and pharmaceutical contract development and manufacturing organization.
It said that EG12014, a biosimilar product that is equivalent to trastuzumab, a monoclonal antibody used to treat breast cancer, completed a phase I clinical trial in Europe earlier this year, and that it is finalizing data collection for phase III studies from more than 200 research centers across 20 countries.
The company said it has also expanded its production output of EG12014 to three 1,000 liter batches, reaching a new milestone in the manufacturing process development, it said, adding that a new production plant at the Hsinchu Science Park is slated to be completed next year.
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