The New Year's festivities for biotech stocks continue to unfold, with at least 17 companies sharing good news in just a month and a half to start the year, including Bora Pharmaceuticals, MegaPro Bio, PharmaEngine and Foresee Pharmaceuticals, Medigen Vaccine Biologics, Taimed Biologics, OBI Pharma Inc. and PharmaEssentia, NaviFUS Corp. and others.
NaviFUS announced a pilot trial of its neuronavigation-guided focused ultrasound system in combination with Bevacizumab for the treatment of recurrent multiple neuroglioblastoma, which was approved by the U.S. FDA.
TWi Biotechnology Inc.'s AC-203 for the treatment of simple hereditary epidermolytic blisters and cold sores, has been approved by the UK's MHRA to undergo Phase II/III clinical trials, which are expected to be completed within three years. As there is currently no drug available for the treatment of this condition, the company is optimistic about the future licensing opportunities.
PharmaEssentia continues to expand the indications for its long-acting interferon P1101 for relapsed or refractory adult T-cell leukaemia/lymphoma, for which a Phase II clinical trial has been filed with Japan’s Pharmaceuticals and Medical. Devices Agency (PMDA).
MegaPro Bio's MPB-1523 MRI contrast medium for hepatocellular carcinoma was licensed to a Chinese pharmaceutical company for approximately RMB200 million, with a sign-on bonus of RMB25 million, an R&D milestone of RMB115 million and a sales milestone of RMB60 million, and an approximate 10% royalties after the drug launch.
More licensing agreements and drug approvals also create growth momentum. PharmaEngine’s strategic partner IPSEN obtained U.S FDA’s approval for Onivyde a first-line combination therapy for the treatment of metastatic pancreas; Foresee Pharmaceuticals’s new drug for prostate cancer is expected to apply for approval in the second half of the year after reaching the target of the Phase III data in China.
The acquisition of Upsher-Smith, a century-old U.S. pharmaceutical company, by Bora Pharmaceuticals at a price of US$210 million is expected to drive Bora's revenue to exceed NT$20 billion this year, making it the leading biotech stock.
With significant progress in drug licensing and clinical development, and the stable growth of most companies' performance, the biopharmaceutical industry is expected to create a new chapter in the new year.
