2017/6/15
TaiRx shows its potential in new cancer drug development and will be listed on the emerging stock market on June 20th.
TaiRx, Inc. (6580) held a pre-opening legal briefing session at the Far East Hotel in Taipei on June 15th, which hopes to inject new blood into Taiwan’s despondent biotech stock market. With sufficient capabilities and careful management, new medicines are absolutely indispensable for the future of human health!
TaiRx is a new drug development company focusing on highly innovative research and development, especially cancer treatment. Aside from important shareholders such as Formosa Laboratories, Inc., O-Bank, China Development Financial, and Top Taiwan Venture Capital, many investment companies were also attracted to the scene in hopes of catching a glimpse of TaiRx’s future plan and investment potential.
TaiRx’s main pipeline includes CVM-1118, a small molecule cancer treatment, after six years of hard work and management from the founders, Dr. Du-Shieng Chien and Dr. Yi-Wen Chu. CVM-1118 started out as a compound in a school lab and were sent to professionally certified lab around the world to complete pre-clinical studies and drug product manufacturing based on international standard. CVM-1118 was approved by the US and Taiwan FDA to enter human clinical trial. Dr. Chien is an expert in new drug development and participated in the world’s first orally administered cancer treatment Nexavar® before returning to Taiwan. He invited his colleagues from Bayer in order to reproduce the success story and allowed CVM-1118 to enter clinical trial in such a short period of time. Another important founder in Taiwan is its Senior Vice President, Dr. Yi-Wen Chu, who specializes in cancer biology and research. She discovered the unique anti-VM inhibition mechanism of CVM-1118, which not only attracted the attention of Science Magazine, but also the interest of many global big pharma. CVM-1118 had already conducted Phase I clinical trial in both the US and Taiwan and established safe dose in human body and the results were published in ASCO this year. The next step for CVM-1118 is to conduct multi-nation, multi-center Phase II clinical trial in patients with hepatocellular carcinoma and colorectal cancer to test its efficacy. Once TaiRx obtains proof of concept, the compound will be out-licensed to global big pharma for global development.
In addition to CVM-1118, TaiRx’s development pipeline also includes an add-on therapy to sepsis treatment, Rexis®. By regulating the patient’s immune system and its function, it can hopefully increase the survival rate of sepsis patient. This product has received approval from Taiwan FDA to conduct Phase III pivotal trial in six hospitals across the island. Another NCE, Zelnite® can be used for critically ill patients as intravenous injection. Zelnite® is strongly recommended by many medical associations across the world to be added into TPN solution in order to make for the loss of trace element in patients to increase anti-oxidization function. Zelnite® was developed in collaboration with Formosa Laboratories, Inc. and Nang Kuang Pharmaceutical Co. Ltd. and had already submitted its NDA in Taiwan. We hope to receive its approval in the near future and make it onto the market. This will allow TaiRx to continue increase its product pipeline in order to balance to value and risk of development for the benefits of our shareholders.
Dr. Du-Shieng Chien announced that TaiRx has been approved by the Taipei Exchange and will be listed on the emerging stock exchange on June 20th. TaiRx is also in contact with many global pharmaceutical companies and establishing collaboration channel in order to expand its Asian market. Taiwan wishes to slowly move towards globalization and allow the world to see Taiwan’s capability in new drug development.