BRIM Biotechnology held a pre-listing performance presentation on the 14th, announcing its plan to list on the stock exchange in mid-December. The offering price is set to be finalized on November 21, with a provisional underwriting price of NT$38. Currently, the company has four ophthalmic drugs in clinical development. Among these, BRM421, a treatment for dry eye disease, is scheduled to begin its second Phase III clinical trial in Q2 2024, targeting a multibillion-dollar market. Meanwhile, BRM424, a treatment for neurotrophic keratitis, is expected to complete its Phase II trial by Q3 2024.
Andrew Lin, Chairman of BRIM Biotechnology, emphasized that since its founding in 2013, the company has focused on translational science for new drug development. With its mission to develop locally produced new drugs and connect with global markets, the company has set its sights on becoming an internationally recognized biopharmaceutical company. Following its public listing, BRIM aims to accelerate the development of its current drug pipeline, offer better treatment options for patients, and expand its operations to meet investor expectations.
Lin highlighted BRIM’s core strength—its world-class R&D team, which continually innovates to address the demand for efficient treatments. The company’s proprietary PDSP regenerative medicine platform, exclusively licensed from MacKay Memorial Hospital, underpins the development of BRM421 and BRM424. These drugs are being clinically tested for dry eye disease and neurotrophic keratitis, respectively. Recently, BRIM acquired two additional eye drop drug candidates originally developed by Taiwan’s Industrial Technology Research Institute: BRM411 for glaucoma and BRM412 for neovascular glaucoma, which works through an anti-angiogenesis mechanism. This brings BRIM’s portfolio to four ophthalmic drugs in clinical development.
CEO Wen-Chyi Shyu explained that BRM421 offers a novel mechanism for treating dry eye disease. The drug stimulates limbal stem cell proliferation, accelerates corneal repair, and disrupts the vicious cycle of corneal damage caused by inflammation from epithelial cell injury. Phase II clinical trials successfully demonstrated its potential, but the first Phase III trial in December 2023 fell short of expectations due to issues related to its excipient. Adjustments have since been made, and the second Phase III trial will begin in Q2 2024. With its rapid onset of action, BRM421 is poised to penetrate the multibillion-dollar dry eye disease market, offering a new treatment option for patients worldwide.
Another key product, BRM424, is designed for neurotrophic keratitis (NK) and has shown great promise. According to Verified Market Research, the global NK market was valued at $194 million in 2022 and is expected to grow to $681 million by 2030, with a compound annual growth rate of 19.2%. BRM424 has received orphan drug designation from the U.S. FDA and is currently undergoing Phase II clinical trials in the U.S., with completion targeted for Q3 2025.
BRIM has also advanced the development of BRM411 for glaucoma and BRM412 for neovascular glaucoma. These two eye drops, which incorporate anti-angiogenesis mechanisms, won the R&D 100 Awards at the 2023 Global Science and Innovation Competition. Both drugs have entered Phase II clinical trials, with initial efficacy data already obtained. The company plans to conduct further clinical trials in Taiwan and the U.S. to expedite their development.
Lin noted that BRIM Biotechnology is the first Taiwanese company to develop first-line ophthalmic drugs with entirely new mechanisms, advancing them to Phase III clinical trials in the U.S. The company prioritizes ophthalmic drugs with short clinical development timelines, large markets, and high growth potential—an ideal focus for small- to medium-sized biotech firms in Taiwan. The peptide-based drugs developed through BRIM’s PDSP platform exhibit both small- and large-molecule characteristics, making them one of the hottest fields in new drug development. So far, BRIM has developed three new drugs using this platform, with the potential to address additional indications in the future.
By bringing together seasoned experts and fresh talent from Taiwan and abroad, BRIM aims to make BRM421 the first international-grade new drug entirely conceptualized and developed by Taiwanese scientists. Building on a decade of effort, BRIM is committed to elevating Taiwan’s biotech capabilities onto the global stage.
Resource: 全福生技12月中上市眼科新藥BRM421明年啟動三期臨床
