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| Monday, 16 December 2019, 08:30 HKT/SGT | |
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| Granted Subsidy of RMB4 Million |
HONG KONG, Dec 16, 2019 - (ACN Newswire) - TOT BIOPHARM International Company Limited ("TOT BIOPHARM" or the "Company"; stock code: 1875.HK) is pleased to announce that the Company, a high-tech enterprise located in the Suzhou Industrial Park, was successfully listed on the Main Board of the Stock Exchange of Hong Kong on 8 November this year. Benefitting from the support of Financial Management Services Office for the Suzhou Industrial Park to companies listing, the Company has been included on the roster of "Suzhou Industrial Park-2019 Awarded Listed Enterprises and Subsidies" with a grant of RMB4 million.
TOT BIOPHARM is a clinical-stage biopharmaceutical company. Since its inception in 2009, TOT BIOPHARM has been based in the Suzhou Industrial Park with a focus on the development and commercialization of innovative oncology drugs and therapies, with the aim of building a leading brand of oncology treatments trusted by patients and their families as well as medical professionals in China. The Company has a comprehensive portfolio of oncology drug candidates, highlighted by monoclonal antibodies (mAb), antibody drug conjugates (ADC), oncolytic virus products and specialty oncology drugs such as liposome drugs. Currently, its comprehensive product pipeline consists of 12 drug candidates, including seven biological and five chemical drugs, and 11 of which are developed in-house. TOT BIOPHARM's drug candidates and combination therapies covered nine of the top 10 types of cancer in China in terms of the number of people afflicted.
Equipped with full industry value chain that covers research and development, clinical trials, production and commercialization, the Company adopts an open platform business model that accommodates the oncology drug industrial value chain, hence it can collaborate with third-party business partners at different stages of the industry value chain, to ensure overall efficiency and balance risks, arming it with mature commercialization capability.
In July 2019, the abbreviated new drug application (ANDA) for the chemical drug TOZ309 (temozolomide), which was developed by the Company to treat malignant glioma, was approved by the National Medical Products Administration (NMPA). Commercialization of the drug is expected to start in 2020. In addition, the Company is carrying out Phase III clinical trials for TAB008, which is a bevacizumab biosimilar for treating non-squamous non-small-cell lung cancer (a common type of lung cancer), and expected to be launched in late 2020 or early 2021. The Company has other major products in the pipeline and plans to launch them to the market gradually in the next five years, to broaden its income sources and boost its cash flow.
Ms. Yeh-Huang, Chun-Ying, General Manager of TOT BIOPHARM, said, "We are pleased to have achieved the goal of listing in Hong Kong, having our landing in the international capital market. The listing has not only enhanced the Company's capital strength, but is also proof of investors' recognition and support for the Company. Looking ahead, we will continue to develop new medicines using innovative technologies and, for cancer patients, provide them with new and more effective treatments, in order to achieve growth in results to reward investors for their support."
Topic: Press release summary
Sectors: Daily Finance, Daily News, BioTech
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