Medeon Biodesign held an investor conference on the 12th, chaired by Chairman Dr. Zhang You-De. Dr. Zhang provided updates on the development progress of two innovative medical devices and the status of the company’s CDMO (Contract Development and Manufacturing Organization) services. He also addressed investor questions, highlighting the advantages of their innovative medical devices over similar market products and discussing the current cooperation with Terumo. Dr. Zhang evaluated the subsequent $20 million milestone payment following the sale of Cross Seal to Terumo and mentioned that a new timeline for milestone recognition is being developed. He acknowledged that some adjustments are to be expected in the negotiations, but assured that the Medeon Biodesign team is "diligently preparing."
Medeon Biodesign’s innovative medical devices, Urocross and Duett, are set to complete phase clinical trials this year, with concurrent licensing negotiations underway. Additionally, the progress in CDMO services appears optimistic, which is expected to gradually provide Medeon Biodesign with a stable cash flow.
Dr. Zhang noted that Medeon Biodesign's primary cash flow sources have historically included investment gains from the sale of shares in Daya and licensing income from Cross Seal. Recognizing the importance of stable cash flow for the continued development of innovative medical device technologies, Dr. Zhang has set a dual-track business strategy for Medeon Biodesign, focusing on both innovative research and CDMO services. This year, Medeon Biodesign is considering acquisition targets within the CDMO sector. The aim is to expedite CDMO activities through the acquisition of companies with component development or assembly capabilities.
This dual-track approach, combining innovative R&D and CDMO services, aims to ensure financial stability and facilitate the rapid development and commercialization of Medeon Biodesign's innovative medical devices.
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