On the 20th, Original BioMedicals Co. Ltd. (OBM) submitted documents to the GreTai Securities Market for listing on the emerging stock market, with the expected debut of trading on March 29th, with a reference price (broker subscription price) of NT$20 per share. Currently, negotiations for authorization cooperation are underway with three major products.
Established on December 5, 2011, OBM has a paid-up capital of NT$655 million and was previously listed on the emerging stock market in 2016. Currently chaired by Kun-Da Wu, as of February 29, 2024, the shareholding ratio of directors and supervisors is 8.57%. The main products are non-new chemical entity (NCE) drug development. In 2022, the company incurred a pre-tax loss of NT$40.27 million, with a loss per share of NT$0.86, and in 2023, a pre-tax loss of NT$59.67 million, with a loss per share of NT$1.27.
Since its inception, OBM has mainly engaged in the development of NCE drugs, with a focus on new dosage forms, new dosages, new indications, and innovative controlled release systems. This technological platform can be applied to various drug main components to adjust the half-life of drugs, increase efficacy, reduce side effects, and shorten development time. To date, the company has independently completed two major drug development technologies, including nanocomposite micelle technology and triggered controlled release technology.
During the investors' conference on the 20th, the management team stated that the current strategy is primarily focused on authorization cooperation. However, if the backend costs are controllable and the success rate is relatively high, and the market potential is significant, they may decide to retain and develop the products themselves. The pace of the company was somewhat disrupted by the pandemic over the past three years. However, China has a significant demand for pharmaceuticals. In recent years, pharmaceutical companies have shifted their focus from heavyweight NCE drugs to the development of new dosage forms, which can realize profits earlier and also have a certain degree of niche market. Since the pandemic was lifted last year, OBM has been actively engaging with the mainland market. Currently, negotiations for authorization cooperation are underway with three major products.
OBM-B01 Cyanide Compound Drug is a compound drug composed of FDA-approved drugs Hydroxocobalamin, Deferoxamine, and a buffering solvent, which can neutralize the toxic gas of fire smoke. Animal tests suggest that it can reduce cyanide toxicity by over 30 minutes at a concentration of 50-100 ppm in humans. It is planned to submit an Investigational New Drug (IND) application in the second half of this year.
OBM-CL Backline Antibiotic Formulation is mainly composed of Colistin, also known as polymyxin E, which is currently used as a clinical backline antibiotic. After the company's product is encapsulated by patented nanocomposite micelle technology and then improved by another patented triggered controlled release technology, its safety increases, the effective dose required for clinical use decreases, the dosing frequency decreases, and it has advantages in treating moderate to severe infections, effectively reducing toxicity and enhancing efficacy.
OBM-A01 Radiation Injury Prevention/Treatment Drug Development Project is mainly composed of amifostine, which uses patented micelle and triggered controlled release technology and a special prescription to extend its half-life, providing preventive drugs for units such as nuclear power plants, military chemical nuclear, and hospitals using proton radiation therapy that may have radiation hazards. Currently, phase I clinical trials are ongoing in the United States.
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