On the 12th, HCmed Innovations announced the successful completion of an early-stage development project in collaboration with a U.S.-based unicorn company specializing in rare diseases. The project utilized HCmed's second-generation smart nebulizer. Due to the smooth and timely completion of the collaboration, HCmed has received 50% of the total contract payment, with revenue recognized according to contract progress and accounting standards in the first two quarters of 2024.
Benefiting from the receipt of 50% of the contract payment, HCmed's revenue for the first seven months of this year reached NT$32 million, marking an annual growth of 1128%.
HCmed stated that the success of this project has propelled the two companies into formal contract discussions with the FDA regarding the drug-device combination product. The signing of the contract is anticipated by the end of 2024. Once the contract is finalized, HCmed will fully support the rare disease company in obtaining FDA approval for the drug-device combination product, with an expected market launch between 2026 and 2027. The potential market for this product is estimated to exceed USD 1 billion.
HCmed's second-generation smart nebulizer, AdheRespR, is a new vibrating mesh nebulizer equipped with a breathing detection function. The development team has incorporated a pressure differential detection system within the drug chamber of the AdheRespR, allowing it to accurately detect the patient's breathing rate. The nebulization of the drug is initiated during inhalation and paused during exhalation. This feature significantly reduces drug waste and prevents the dispersion of nebulized drugs into the air, minimizing environmental impact and reducing risks to healthcare providers or family members assisting the patient. In addition to the breathing detection function, AdheRespR is also equipped with Bluetooth connectivity and a drug lock function to enhance patient medication adherence.
In recent years, HCmed has been actively involved in the development and patent application for AdheRespR and continues to seek partners to advance the development of drug-device combination products.
Resource (mandarin): 完成美國罕病研發專案 心誠鎂上半年認列收入
