BRIM Biotech announced on the evening of the 11th that its board of directors has approved an investment of NT$400 million to acquire intangible assets from Sinphar Biotech and TheratOcular Biotek. The assets include the rights to two eye drop formulations: TO-O-1001 for glaucoma and TO-O-1002 for wet age-related macular degeneration (AMD).
BRIM Biotech noted that TheratOcular Biotek is a subsidiary of Metagone Biotech, which holds a 56.14% stake in the company. The acquired assets are the rights to two technology transfer projects authorized exclusively to Sinphar Biotech by the Industrial Technology Research Institute (ITRI): "Glaucoma Treatment Eye Drops" and "Wet AMD Treatment Eye Drops."
Upon obtaining ITRI's consent for the "transfer of rights," BRIM Biotech will assume and succeed to the rights and obligations of Sinphar Biotech under the technology transfer agreements, as well as the research and development achievements of TheratOcular Biotek.
In late April, ITRI announced that its "Innovative Dual-Target Glaucoma Drug" had won the prestigious Edison Award's Gold Prize for 2024, often referred to as the "Oscars of Innovation." This drug, which has been transferred to Sinphar and TheratOcular Biotek, is already in the clinical trial phase.
ITRI explained that the "Innovative Dual-Target Glaucoma Drug" offers superior efficacy compared to existing treatments. It features the "3S" characteristics: Smart, enhancing trabecular meshwork drainage; Sharp, targeting high intraocular pressure in glaucoma patients who are not adequately served by current drugs, maintaining maximum pressure-lowering efficacy for 6 to 8 hours post-administration and achieving pressure reduction three times more effective than major international brands; and Safe, reducing the risk of red eye and adverse drug interactions, thus providing a safer treatment option. The drug has already secured technical patents in the U.S., Europe, and other markets and has completed Phase I clinical trials, with preparations underway for Phase II.
This strategic acquisition by BRIM Biotech signifies a substantial step forward in expanding its portfolio of advanced ophthalmic treatments and underscores its commitment to leveraging cutting-edge technologies for better patient outcomes globally.
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