TaiMed Biologics held its shareholder meeting yesterday, completing the election of its board of directors and supervisors. Former chairman James Chang confirmed his retirement. Chen Mingcun, newly elected director and current CEO of Ruentex Group’s medical system, is expected to be elected chairman at the board meeting scheduled for today (June 4).
Regarding the long-acting anti-HIV drugs TMB-365/380 licensing, CEO James Chang stated that the Phase 2b clinical trial application was submitted on May 21 and is expected to complete by July next year. A consulting firm engaged by the company has assessed the product’s potential as a blockbuster (with estimated annual sales exceeding one billion U.S. dollars). The company is currently in contact with potential licensing partners, adopting a “do-and-discuss” strategy to push for breakthroughs in licensing deals.
At today’s shareholder meeting, TaiMed Biologics approved the 2024 business report and financial statements, as well as the proposal to cover the annual loss. The election of the seventh board resulted in nine directors—six general and three independent. Ruentex Group secured three seats, the National Development Fund took two, and Chen Mingcun was elected as an individual director. The independent directors elected are Li Shih-Jen, Lin Guo-Feng, and Qiu Qin-Ting.
With Chairman James Chang officially retired, Chen Mingcun is expected to be elected chairman at tomorrow’s board meeting.
On the progress of licensing for TMB-365/380, James Chang noted the company’s strong desire to close a deal quickly. They have partnered with a professional international consulting firm to help identify and engage potential licensees. However, he emphasized that licensing negotiations are highly complex and cannot be completed in a single meeting. Multiple presentations, technical explanations, and alignment of commercial goals are necessary to gradually advance discussions. Currently, intensive communications with potential partners are ongoing.
Chang further explained that the consulting firm has provided preliminary commercial evaluations based on the technology and early clinical data for TMB-365/380, concluding that the product holds blockbuster potential. Nonetheless, whether a final deal is reached and the licensing fee amount depend on how potential pharmaceutical partners perceive the product and whether it aligns with their internal development strategies.
Regarding whether licensing negotiations should wait until Phase 2 or Phase 3 trials are completed, Chang said the Phase 2b clinical trial application was submitted on May 21 and is expected to finish by July next year. However, the timing of licensing negotiations depends entirely on how both parties interpret and trust the existing clinical data. For example, if preliminary results show 90% efficacy in 20 to 30 patients, some pharmaceutical companies may consider this statistically sufficient, while others may prefer larger sample sizes. This is a mutual evaluation process, so the company adopts a “do-and-discuss” approach rather than waiting for trial completion to begin negotiations.
When asked about the impact of the Trump administration’s prescription drug policy reforms on licensing talks, Chang responded that since the product is still in clinical development, it is not directly affected by U.S. drug price negotiation mechanisms. However, if the licensee is a U.S.-based pharmaceutical company, future drug pricing pressures may be factored into the product valuation and licensing fees.
Resource: 中裕TMB-365/380國際授權「邊做邊談」，臨床試驗2b目標明年7月完成
