EQS-News: Development of biomedical technology has led to unprecedented collaboration for a new start-up: Strategic Cooperation between MegaPro and China Chemical & Pharmaceutical Co.

EQS-News / 13/12/2019 / 15:42 UTC+8 
 
*Development of biomedical technology has led to unprecedented collaboration 
for a new start-up: Strategic Cooperation between MegaPro and China Chemical 
& Pharmaceutical Co.* 
 
MegaPro Biomedical, founded 2015, focused on the development of 
nanomedicines has successfully used the nanomicelle platform to develop two 
new drugs and completed a number of preclinical developments. Since 2017, 
MegaPro and China Chemical & Pharmaceutical Co., Ltd. (CCPC, TPE: 1701) have 
conducted strategic cooperation and negotiations to elaborate the 
applications of technology platforms and enhance the value of products 
development. CCPC is optimistic about the potential of MegaPro and the 
growth of the nanomedicine market. Therefore CCPC decided to participate in 
the D round financing of MegaPro, becoming an important strategic partner. 
In addition to investing in the equity shares of Megapro, CCPC has also 
obtained its nanomicelle technology license to promote future products and 
accelerate the mass production and marketing of nanomedicines. 
 
According to Dr. Jassy Wang, CEO of MegaPro, the company's nanomicelle 
technology mainly uses the well-designed encapsulation technology of 
macromolecules to change hydrophobic drugs into hydrophilic formulations, 
which is maintained at nanometer dimensions. The advantage includes reducing 
the side effects of listed drug by passive targeting, increasing drug 
dosages, sustained release, and other benefits. With CCPC's participation, 
it would make MegaPro more appealing to market demands and accelerate the 
development of more new candidate drugs and their applications. It is It is 
anticipated that MegaPro would become a leader in Nanomedicines market . 
Currently, the first product of the nanomicelle technology platform, 
MPB-1734, has completed the company's internal development preparations, and 
the phase 1 clinical study is expected to begin in 2020. On the other hand, 
two other MegaPro products in clinical phase 2 study have also made 
breakthrough progress. MPB-1514 is currently the only non-saccharide based 
intravenous iron injection on the market, with 30 trials of subjects having 
been completed; as for MPB-1523, a MRI HCC patient contrast agent, so far 
the receiving process of 30 subject trials has been completed, and both 
clinical trials aforementioned are expected to be completed in 2020. As the 
development of all items are progressing smoothly, further advancements and 
prospects are highly anticipated. 
 
Document: http://n.eqs.com/c/fncls.ssp?u=PKSOENJTNM [1] 
Document title: Development of biomedical technology has led to 
unprecedented collaboration for a new start-up: Strategic Cooperation 
between MegaPro and China Chemical & Pharmaceutical Co. 
 
13/12/2019 Dissemination of a Marketing Press Release, transmitted by EQS 
Group. 
The issuer is solely responsible for the content of this announcement. 
 
Media archive at www.todayir.com 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=f950af4832ba756c735ebcc9fe2bf3a1&application_id=935591&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

December 13, 2019 02:42 ET (07:42 GMT)