Polymer protection for vaccines and drugs

TSUKUBA, Japan, Dec 9, 2022 – (ACN Newswire) – A biocompatible polymer could help deliver vaccines and drugs with reduced risk of the rare dangerous adverse reaction called anaphylaxis. Researchers at the National Institute of Advanced Industrial Science and Technology (AIST) in Japan have developed the polymer and performed preliminary tests, which they report in the journal Science and Technology of Advanced Materials.


A liposome (left) containing a vaccine is commonly coated with polyethylene glycol (PEG) but it can trigger an allergic reaction to some recipients. A newly developed lipid (right) could serve as a safer, alternative liposome-coating while retaining the vaccine longer in the body.


Until now, the polymer of choice for encasing and delivering vaccines has been poly(ethylene glycol) (PEG). This synthetic, flexible, water-soluble material has been used to surround some COVID-19 vaccines carried within the tiny spherical packages known as liposomes.

Unfortunately, some recipients have suffered an anaphylactic reaction to PEG, in which the immune system mounts an allergic response to the foreign material. Symptoms of anaphylaxis range from minor skin irritations, to breathing difficulty, nausea and, in the worst cases, unconsciousness and sudden death.

The alternative polymer is a form of fatty biomolecule called a lipid, and is conjugated to 2-methacryloyloxyethyl phosphorylcholine (MPC) polymer.

This new substance spontaneously binds to the outside of liposome particles when mixed with them in water. Crucially, the polymer is not recognized by the antibodies that the body can generate in response to PEG, and tests suggest it does not stimulate any other antibodies that could cause an allergic reaction. This should allow coated liposomes containing a vaccine to be retained in the body for a longer time without being cleared by the immune system, in addition to avoiding anaphylaxis.

"We have also found that the polymer avoids other interactions with proteins in the blood that might otherwise interfere with its effects, and it also prevents liposomes from aggregating together," says molecular engineer Yuji Teramura of the AIST team.

Tests confirm the coated liposomes can remain stable in storage for 14 days, sufficient for real clinical applications.

"All the indications suggest that our technology should be suitable for delivering vaccines into patients who develop anaphylaxis in response to PEG," Teramura concludes.

The polymer must now be thoroughly tested in various real vaccine applications. The team is moving into this next crucial phase of the development process, prior to eventual clinical trials in humans.

Provided the animal and subsequent clinical trials go well, the technology should offer opportunities for delivering drugs into the body, in addition to vaccines. Delivery systems such as liposomes are sometimes needed to protect drugs from biochemical processes that might degrade them. This can ensure that they reach the target disease tissues while remaining in their active form.

Further information
Yuji Teramura
National Institute of Advanced Industrial Science and Technology (AIST)
Email: y.teramura@aist.go.jp

About Science and Technology of Advanced Materials (STAM)

Open access journal STAM publishes outstanding research articles across all aspects of materials science, including functional and structural materials, theoretical analyses, and properties of materials. https://www.tandfonline.com/STAM

Dr Yasufumi Nakamichi
STAM Publishing Director
Email: NAKAMICHI.Yasufumi@nims.go.jp

Press release distributed by Asia Research News for Science and Technology of Advanced Materials.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Led by Legend Capital, GS Biotech Completes Nearly CNY100 million Pre-A Round Financing

HONG KONG, Dec 9, 2022 – (ACN Newswire) – Recently, Zhongke Guosheng (Hangzhou) Technology Co., Ltd (hereinafter referred to as "GS Biotech") officially announced the completion of its nearly CNY100 million pre-A round financing, led by Legend Capital. The proceeds will be mainly used for the capacity expansion of core pipeline products 5-hydroxymethylfurfural (HMF), 2,5-furandicarboxylic acid (FDCA) and 2,5-tetrahydrofuran dimethanol (THFDM), and the continuous development of downstream derivatives.



Founded in 2021 with the vision of "Biomass Change Lives", GS Biotech is a bio-based material and R&D company dedicated to building a bio-based material industry chain. The members of its founding team graduated from the Dalian Institute of Chemical Physics, Chinese Academy of Sciences, and have nearly 20 years of research foundation and industrialization experience in the fields of biomass catalytic conversion and furan-based material design and development. At present, the R&D team building has also been completed from biomass, derivatives to polymers, which ensures the cutting-edge of the company's product development and the availability of end products.

According to Dr. John Zhang, CEO of GS Biotech, the company has taken the development model of promoting the "two-wheel drive" of the dual track as an important strategic direction. On the one hand, the company has completely solved the problems of HMF cost and raw material sources; its original HMF continuous production process, which completed the verification of multi-dimensional cost reduction measures, has greatly reduced the production cost and effectively improved the efficiency, and it is expected that the production cost of HMF will be controlled within RMB10,000 per ton in the future three years from the extraction of non-grain raw material sources to the iterative path of the production process and to the planning of expanding production capacity. Meanwhile, the company has also reserved more than 20 kinds of high-value-added monomers and is simultaneously promoting the verification of the application of each monomer in the terminal market. Moreover, GS Biotech established a joint venture, Xinshengtai Materials, with an AI-powered drug R&D unicorn company XtalPi Inc to focus on using AI technology to accelerate the reverse design of derivatives and improve the development efficiency of downstream derivatives to further accelerate its high-efficiency and accurate market development process.

On the other hand, the company has also made significant progress in the design, R&D and industrialization of degradable new materials. The new biodegradable plastic PEOX, another important pipeline of the company, has completed the 150L pilot scale experiment and obtained market terminal verification. The performance indicators of PEOX can be compared with PGA and the price of the terminal product will be approximately RMB10,000/ton after the large-scale production. With the special performance of the product and the support of policies, many leading enterprises in the industry are negotiating with the company to sign an underwriting agreement to apply PEOX in the field of disposable packagings such as agricultural mulch, plastic bags, straws, and lunch boxes.

Legend Capital said: "Under the background of China's strategy in carbon peaking and carbon neutrality and the pursuit of sustainable energy development, petroleum-based chemical materials will gradually be replaced by bio-based materials, which are produced from sustainable resources. HMF is an important bio-based platform compound with great potential for downstream derivatives. GS Biotech has pioneered the HMF continuous production process globally and realized the large-scale and low-cost production of HMF. It has opened the entire industry chain from upstream core monomers to terminal applications and innovatively introduced AI and high-throughput machine synthesis technology into the development of downstream derivative products. The core team of GS Biotech graduated from the Dalian Institute of Chemical Physics of the Chinese Academy of Sciences. With nearly 20 years of research foundation and industrialization experience in the field of biomass catalytic conversion, GS Biotech has shown strong capabilities in continuous R&D, production management, and resource integration. Legend Capital has long focused on technology investments linked to carbon peaking and carbon neutrality, and we look forward to working with GS Biotech to promote technological change in the field of bio-based materials."

As an interdisciplinary subject of information science, life science and material science, synthetic biology and bio-based materials have always been the direction that Legend Capital has paid close attention to in the field of carbon-neutral technology investment. Legend Capital's investments in the carbon-neutral field focus on energy decarbonization, vehicle electrification/intelligence, synthetic biology, etc. Energy decarbonization includes photovoltaic, wind power, and smart grid; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others; in the field of synthetic biology and bio-based materials, Legend Capital has invested in many outstanding companies such as Giant Biogene (02367.HK), GS Biotech, Huili Biotech, and Tidetron Bioworks Technology.

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital).


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CMS (867.HK) Joins Hand with Incyte on Ruxolitinib Cream, Brings 1st Repigmentation Drug for Vitiligo Patient

SHENZHEN, CHINA, Dec 6, 2022 – (ACN Newswire) – China Medical System Holdings Limited (CMS, 867.HK) acquired another blockbuster innovative product in dermatology filed. On December 2, CMS announced that it had, through one of its subsidiaries, a dermatology medical aesthetic company (“CMS Aesthetics”), reached a collaboration agreement with Incyte, a global biopharmaceutical company, obtaining the license for the development, production, registration and commercialization of Ruxolitinib Cream in mainland China, Hong Kong, Macau, Taiwan and eleven countries in Southeast Asia (“Territory”), commencing on its effective date and with a royalty term of ten years from the date of the products’ first commercialization in the Territory, which, after expiration, may be renewed for another 10 years or longer as per certain conditions.

Ruxolitinib Cream is the only topical JAK inhibitor and the first vitiligo repigmentation drug approved by the U.S. FDA. Through this transaction, CMS once again brings a novel treatment option for patients with unmet medical needs.

The first and only vitiligo repigmentation therapy approved by the U.S. FDA

Ruxolitinib Cream is a cream formulation of Incyte’s first-in-Class medicine, ruxolitinib, selectively inhibits Janus kinase 1 and 2 (JAK1/JAK2), with composition patent, formulation patent and use patent.

The product was approved by the FDA in July 2022 for the topical non-segmental vitiligo patients. Previously, it was approved by the FDA in September 2021 for the topical short-term and non-continuous chronic treatment of mild to moderate atopic dermatitis (AD) in non-immunocompromised adult and pediatric patients 12 years of age and older whose disease is not adequately controlled with topical prescription therapies or when those therapies are not advisable. The product also has the potential to meet the clinical needs of other autoimmune inflammatory dermatological diseases.

In July this year, Ruxolitinib Cream became the first and only drug approved by the U.S. FDA for vitiligo patients repigmentation. This approval was mainly supported by the positive results of two pivotal Phase 3 clinical studies (TruE-V1 and TruE-V2), specifically:

  • Primary endpoint: At week 24, approximately 30% of patients treated with Opzelura (Ruxolitinib Cream) achieved ≥75% improvement from baseline in the facial Vitiligo Area Scoring Index (F-VASI75), compared to approximately 8% and 13% of patients treated with vehicle in TRuE-V1 and TRuE-V2, respectively. At Week 52, approximately 50% of Opzelura-treated patients achieved F-VASI75.
  • Key secondary endpoints: at Week 24, more than 15% of patients treated with Opzelura (Ruxolitinib Cream) achieved ≥90% improvement from baseline in F-VASI (F-VASI90), compared to approximately 2% of patients treated with vehicle. At week 52, the percentage of patients treated with Opzelura (Ruxolitinib Cream) that achieved F-VASI90 doubled to approximately 30%.

Ruxolitinib Cream is a topical preparation with long-term safety performance proven by pivotal clinical trials for 52 weeks, in which no serious drugs-related adverse events reported.

Ruxolitinib Cream brings novel treatment option for vitiligo patients

Vitiligo is an autoimmune disease characterized by localized or generalized depigmentation of the skin and mucous pigment and gradually enlarged and irreversible white spots. Vitiligo is more likely to occur in areas with exposed skin such as the face, neck and limbs, and it is initially found in heads and faces of about 40% vitiligo patients. As the disease seriously affects the appearance of patients, and the incidence among young people and women is high, extensive patient with vitiligo are suffering from the “appearance anxiety”. At the same time, some people prejudice against vitiligo patients and estrange from them with the misconception that vitiligo is contagious, hereditary, etc., which have aggravated the patients’ stigma in their daily life. According to a paper published in The Lancet, it is estimated that there are about 14 million people with vitiligo in China, and nearly 6.5 million people with vitiligo in 11 countries in Southeast Asia.

At present, vitiligo is generally treated with off-label drugs combined with laser treatment in China. As vitiligo is a chronic disease, patients need long-term and continuous treatment. However, the existing off-label drugs for vitiligo, such as topical glucocorticoids (TCS) and calcineurin inhibitors (TCI), have clinical pain points such as adverse reactions and uncertain efficacy with long-term medication.

Ruxolitinib Cream, with good efficacy and limited side effects, will fulfill the unmet clinical needs, provide an effective innovative therapy for vitiligo patients, and improve their quality of life.

Joining hands with Incyte, CMS wins Ruxolitinib Cream with strong competitiveness in dermatology filed

As a global biopharmaceutical company headquartered in the United States founded in 2002, Incyte, in partnership with CMS, is continuously advancing its drug pipeline in the fields of hematology/oncology and inflammation/autoimmunity. Incyte has licensed-out a number of its products to well-known pharmaceutical companies at home and abroad, such as Novartis (ruxolitinib tablets, for the treatment of myelofibrosis, etc.), Lilly (JAK inhibitors with oral administration, for the treatment of severe alopecia areata, etc.), Innovent (FGFR1 /2/3 inhibitors and other oncology drugs), Zai Lab (PD-1, for the treatment of hematologic and solid tumors).

Ruxolitinib is a flagship product of Incyte. Since the first indication for Ruxolitinib Cream was approved in September 2021, its sales has grown rapidly. According to Incyte’s Report, the sales of Ruxolitinib Cream in the United States in 2021 was approximately USD$5 million, and approximately USD$30 million in the first half of 2022; Following approval of the indication for vitiligo, its sales revenue in the third quarter alone of 2022 rose rapidly to about $38 million, has surpassed total sales revenue in the first half of 2022.

As a flagship product, the collaboration on Ruxolitinib Cream in China and Southeast Asia markets must be very attractive to many well-known pharmaceutical companies in China. In the selection of partners for its flagship products, Incyte has clear criteria. According to public reports, the partner chosen by Incyte for the Ruxolitinib Cream in the Japan market is Maruho Co., Ltd. (founded in 1915), a leading dermatology pharmaceutical company in the Japanese market. With Ruxolitinib Cream as a medium, Incyte has obvious intentions to bring together top dermatology specialty companies.

The partnership between Incyte and CMS creates strong alliance that could make the most of respective strengths of each other in the dermatology field.

CMS has deeply rooted in the dermatology field for years, and promoted the independent operation of its dermatology line in January 2021, to improve scale efficiency of the business with in-depth development. As at June 30, 2022, CMS has built a dermatology promotion team of about 600 people, covering more than 20,000 dermatologists. Of its marketed dermatology products with professional brand image, Hirudoid (a skin barrier repair agent with multiple functions) has gained a leading market position in China; Aethoxysklerol is an international brand for the treatment of sclerotherapy of varicose veins with years of clinical application. At present, CMS Aesthetics has 8 marketed products and more than 10 pipelines products, covering dermatology prescription medicines, light medical aesthetic products, energy-based medical aesthetic devices and dermatology grade skincare products, and etc. While continuously enriching its product matrix, CMS Aesthetics is committed to becoming a leader in the dermatology field.

“We are excited to partner with CMS and leverage their dermatology expertise to expand the global opportunities for Ruxolitinib Cream as a potential treatment for patients with immune-mediated dermatologic conditions in China.” said Hervé Hoppenot, Chief Executive Officer, Incyte.

For this transaction, CMS expressed that it will leverage its own advantages in clinical development and commercialization to realize the marketing and sales of Ruxolitinib Cream in China and Southeast Asia as soon as possible, benefiting more patients. Meanwhile, it will continue to introduce high-quality innovative products globally with flexible, mutually beneficial collaboration models, and develop CMS Aesthetics into a leading company in dermatology, medical aesthetic health management in China.

Media Contact
Media Team, CMS
Email: ir@cms.net.cn
Website: http://www.cms.net.cn/

Source: China Medical System Holdings Ltd.



Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Global pharma giants partner Singapore researchers to boost innovation in biologics and vaccines manufacturing

SINGAPORE, Dec 6, 2022 – (ACN Newswire) – Leading pharma companies GSK, Sanofi and Takeda will partner with research communities from the Agency for Science, Technology and Research (A*STAR); National University of Singapore (NUS); Nanyang Technological University, Singapore (NTU Singapore) and its innovation and enterprise company, NTUitive; and Singapore Institute of Technology (SIT) to boost Singapore's biologics manufacturing capabilities.


BioPIPS MOU signing ceremony


Their partnership will be formalised through the Biologics Pharma Innovation Programme Singapore (BioPIPS), a consortium initiated by A*STAR with support from the Singapore Economic Development Board (EDB).

BioPIPS seeks to use research and innovation to grow Singapore's manufacturing capabilities for biologics, which include recombinant therapeutic proteins, and vaccines. Amid the COVID-19 pandemic, biologics and vaccines played a critical role globally in preventing severe disease and saving lives.

The consortium will bring together leading industry experts and Singapore's research ecosystem to enhance manufacturing productivity, improve operational efficiency and achieve sustainability goals. The consortium ultimately aims to make Singapore's biologics manufacturing capabilities best-in-class and well-positioned for the introduction of new products and novel manufacturing technologies.

"New opportunities will emerge as the biomanufacturing industry undergoes major changes brought about by the rapid pace of digitalisation, Industry 4.0, and the need for greater sustainability. As Singapore makes biopharma production a priority area in its Research, Innovation and Enterprise 2025 Plan, A*STAR aims to contribute our R&D capabilities through BioPIPS to help make the local biomanufacturing industry become more agile and better positioned to benefit from new products and technologies," said Professor Lim Keng Hui, Assistant Chief Executive, Science and Engineering Research Council, A*STAR.

"Riding on the success of PIPS, BioPIPS aims to enhance Singapore's innovation capabilities in biologics and vaccines manufacturing by leveraging the strengths of our leading pharmaceutical companies and institutes of higher learning. The programme will develop highly productive, sustainable and advanced production technologies and solutions. We look forward to deepening partnerships with like-minded companies to strengthen Singapore's position as a global biopharma manufacturing hub," said Mr Tan Kong Hwee, Executive Vice President, EDB.

Specifically, BioPIPS will have three workstreams.

– The Sensing and Modelling workstream aims to harness machine learning and mechanistic modelling technologies, together with smart sensors, to enable simplified and faster workflows. Data analytics will enable the effective translation of process knowledge gained into performance improvements, which in turn benefits the overall manufacturing process.

– The Sustainability workstream focuses on tackling sustainability challenges in biologics and vaccines manufacturing, which typically utilises single-use (disposable) equipment due to the extremely sterile environment needed for product purity. This workstream will explore the use of novel materials and circular economy approaches to address this challenge, as well as models to promote more sustainable and resilient supply chains.

– The Compliant Agility workstream focuses on the removal of manual tasks to achieve greater productivity in the manufacturing facilities while maintaining compliance status, by using solutions like robotics and advanced analytics.

BioPIPS is in line with Singapore's Manufacturing 2030 vision, which aims to anchor leading manufacturing activities to grow the country's manufacturing value-add by 50 per cent from 2020. The solutions developed through BioPIPS will also enhance Singapore's capabilities to meet the growing global demand for biologics and vaccines, as well as equip pharmaceutical companies here with the resources to scale up and respond more rapidly to future pandemics.

"By collaborating to tackle common challenges, we can leverage diverse skills and capabilities to create a sustainable manufacturing environment in Singapore. We also look forward to developing new ways to monitor and control our processes and automate our manufacturing operations," said Chan Siong Wan, Site Director, GSK.

"Sanofi is building a next generation manufacturing site, the EVolutive Facility, in Singapore, which will bring advanced digital and modular vaccine production capabilities to the Asia region. The BioPIPS programme's focus on transforming biologics and vaccines manufacturing through pre-competitive partnerships is aligned with Sanofi's vision for the EVolutive Facility, to continuously push the envelope of innovation for biopharmaceutical manufacturing," said Mr Koh Liang Hong, Site Head, EVolutive Facility, Sanofi.

"The objectives of BioPIPS are aligned to Takeda's ambitions of being net carbon zero in our operations by 2035 and how we can tap on data, digital and technology to transform our manufacturing site. We look forward to this partnership with Singapore's research ecosystem to further strengthen our capabilities, and discover new and sustainable ways to develop and manufacture innovative medicine to deliver on Takeda's commitment to Patient, People and Planet," said George Lam, Site Head, Takeda Manufacturing Singapore.

BioPIPS builds on the consortium model established by the Pharma Innovation Programme Singapore (PIPS), which was set up to boost Singapore's capabilities for manufacturing of small molecule drugs made of chemical compounds.

"NUS is delighted to be a member of BioPIPS, contributing our capabilities in areas such as biocatalysis, reactor manufacturing, and digital factory. By leveraging the complementary strengths of A*STAR, EDB, the academia and the pharmaceutical industry, we can create a strong technology foundation for innovations that will bring about compelling improvements in productivity, operational efficiency and sustainability practices in Singapore's biopharma manufacturing sector," said Professor Thorsten Wohland, Director, Research Governance and Enablement, Office of the Deputy President (Research and Technology), NUS.

"The Covid-19 pandemic has highlighted the need for the biomanufacturing industry to be innovative and agile when dealing with challenges, including future pandemics and disease outbreaks. At the NTU Smart Campus, our scientists have been pioneering advanced solutions such as breathalysers that can detect Covid-19 in two minutes and a semi-autonomous robot that can disinfect surfaces. Such groundbreaking research underlines our commitment to the NTU 2025 strategic plan that aims to solve some of humanity's grand challenges, including addressing the needs and challenges of healthy living and ageing. With our strengths in interdisciplinary research and innovation, we hope to play our part to bolster the sector's manufacturing productivity and operational efficiency in a sustainable manner. We look forward to achieving meaningful results with our partners through this national consortium," said Professor Peter Preiser, Associate Vice President (Biomedical and Life Sciences), NTU Singapore.

"SIT is excited to be part of BioPIPS, which will inject next-generation process innovation into the local pharmaceutical industry. This partnership will allow SIT to strengthen its applied research capabilities in sustainable biopharma manufacturing technologies. Under this initiative, SIT will explore opportunities to work with manufacturers to apply digitalisation for process optimisation and better regulatory oversight while incorporating environmental considerations to progress production processes for the pharmaceutical industry," said Associate Professor Susanna Leong, Vice President (Applied Research), SIT.

Image https://www.acnnewswire.com/topimg/Low_astar20221206.jpg
A/Prof Susanna Leong, Vice President (Applied Research), SIT; Prof Thorsten Wohland, Director, Research Governance and Enablement, Office of the Deputy President (Research and Technology), NUS; Prof Ng Huck Hui, Assistant Chief Executive, Biomedical Research Council, A*STAR; Mr Chan Siong Wan, Site Director, GSK; Mr Tan Kong Hwee, Executive Vice President, EDB; Mr Koh Liang Hong, Site Head, EVolutive Facility, Sanofi; Mr George Lam, Site Head, Takeda Manufacturing Singapore; Prof Lim Keng Hui, Assistant Chief Executive, Science & Engineering Research Council, A*STAR; Prof Peter Preiser, President's Chair in Biological Science & Associate Vice President (Biomedical and Life Sciences), NTU Singapore; Mr David Toh, Director and Chief Executive Officer, NTUitive [L-R]

For media queries and clarifications, please contact:
Owen Sia (Mr)
Assistant Head, Corporate Communications
Agency for Science, Technology and Research
Tel: +65 6517 7866
Email: owen_sia@hq.a-star.edu.sg

Fabius Chen (Mr)
Senior Manager, Corporate Marketing and Communications
Singapore Economic Development Board
Tel: +65 6832 6125
Email: fabius_chen@edb.gov.sg

About the Agency for Science, Technology and Research (A*STAR)

The Agency for Science, Technology and Research (A*STAR) is Singapore's lead public sector R&D agency. Through open innovation, we collaborate with our partners in both the public and private sectors to benefit the economy and society. As a Science and Technology Organisation, A*STAR bridges the gap between academia and industry. Our research creates economic growth and jobs for Singapore, and enhances lives by improving societal outcomes in healthcare, urban living, and sustainability. A*STAR plays a key role in nurturing scientific talent and leaders for the wider research community and industry. A*STAR's R&D activities span biomedical sciences to physical sciences and engineering, with research entities primarily located in Biopolis and Fusionopolis. For ongoing news, visit www.a-star.edu.sg.

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About the Singapore Economic Development Board

The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore's position as a global centre for business, innovation, and talent. We undertake investment promotion and industry development, and work with international businesses, both foreign and local, by providing information, connection to partners and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore and Singaporeans. For more information on EDB, please visit www.edb.gov.sg.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Novotech Awarded the Asia Pacific CRO of the Year 2022 for Best Practices in Clinical Trials

SYDNEY, AU, Dec 6, 2022 – (ACN Newswire) – Novotech, the leading Asia Pacific biotech specialist CRO, has been awarded the Frost & Sullivan Company of the Year Award 2022 for Best Practices in the Asia-Pacific contract research organization industry. Novotech has been a recipient of the Frost & Sullivan Asia Pacific Best Practices awards since 2006.

Frost & Sullivan identifies companies that consistently develop growth strategies based on a visionary understanding of the future, and effectively address new challenges and opportunities.

Frost & Sullivan said: "Our approach involves the deployment of best practices and strategic analytics across a value chain. Against this backdrop, Frost & Sullivan recognizes Novotech for its valuable achievement. Novotech addresses the global drug development market's unmet needs with a strong leadership focus that incorporates client-centric strategies with best-practice implementation. From feasibility assessments to regulatory submission support, data management, medical monitoring, and project management, the company provides a 360-degree approach to drug development for its biotech clients."

In response to the Company of the Year Award announcement, Novotech CEO Dr. John Moller said this award is a credit to our entire global team which has decades of biotech drug development experience.

"Every day our team supports biotech companies in their drug development programs with unparalleled regulatory knowledge, vast site and investigator networks, technology-driven clinical data management, and a project management approach focused on problem-solving, ownership, and flexibility. Our global clients benefit from access to our expert teams in Asia Pacific, which is the fastest-growing clinical trial region, due to its vast patient populations and sophisticated medical research infrastructure. Our consistent investment in advanced training and technology systems combine to deliver a specialist full-service biotech CRO solution."

Novotech regularly produces expert reports on East-West strategies. A new publication is now available for international biotechs considering China for their clinical research, as well as China biotechs conducting research in China, and the relevant processes required for global regulatory approvals.

The report details regulatory requirements for biotechs including NDA and IND processes as well as ex-US research guidance for a successful US FDA approval pathway. Novotech can provide the relevant regulatory knowledge and drug development pathways specifically designed to support the US FDA approval process, avoiding delays and additional costs.

Download whitepaper here https://novotech-cro.com/whitepapers/china-biotech-landscape-opportunities-china-and-path-usfda-approval

Novotech has also recently been benchmarked as a top 10 CRO among the world's leading CROs, is a finalist in the prestigious Scrip awards, and has just been awarded the Gene & Cell Therapy Excellence Award. In Asia Pacific Novotech has more than 50 Leading Site Partnership agreements with major medical research institutions delivering exclusive benefits for sponsors.

About Novotech

Novotech is the leading Asia Pacific biotech specialist CRO. Novotech has integrated labs and phase I facilities and provides drug development consulting and clinical development services across all phases. It has been instrumental in the success of approximately 4,000 clinical trials across a broad range of therapeutic areas. Novotech is well-positioned to serve biopharma clients conducting clinical trials in Asia-Pacific and the US. For more information visit https://novotech-cro.com/contact

Media Contact
David James
E: communications@novotech-cro.com
AU: +61 2 8218 2144
USA: +1 415 951 3228
Asia: +65 3159 3427

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Prenetics Announces US$20 Million Stock Repurchase Program and Inclusion into the MSCI Global Micro Cap Index

LONDON AND HONG KONG, Nov 30, 2022 – (ACN Newswire) – Prenetics Global Limited (NASDAQ: PRE) ("Prenetics" or the "Company"), a global leader in genomic and diagnostic testing, today announced that its board of directors has authorized a share repurchase program, and that it has been included as a constituent stock in the MSCI Global Micro Cap Index (Hong Kong), with such inclusion to become effective after the U.S. market close today.



Board Approval of Share Repurchase Program

The Company's board of directors has authorized a share repurchase program under which the Company may repurchase its class A ordinary shares with an aggregate value of up to US$20 million during a 24-month period (the "Repurchase Program").

Under the Repurchase Program, the Company may make repurchases from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, and the Company may enter into one or more trading plans. The Company plans to fund the repurchase program using existing cash and cash equivalents or future cash flow. The timing and amount of the share repurchases made pursuant to the program will be decided by the Company based on its evaluation of market conditions and be subject to various factors, including the Company's capital position, liquidity, financial performance and alternative uses of capital, stock trading price, regulatory requirements and general market conditions. This repurchase authorization does not obligate the Company to acquire any specific number of shares or securities and may be modified, suspended or discontinued at any time.

Inclusion in the MSCI Global Micro Cap Index (Hong Kong)

Effective after the U.S. market close today, Prenetics will be included as a constituent stock in the MSCI Global Micro Cap Index (Hong Kong).

Following the inclusion of Prenetics, there will be a total of 17 HK-headquartered companies included in this Hong Kong index. According to MSCI, the entire MSCI Global Micro Cap index includes a total of 299 constituents in 22 developed markets (with Hong Kong included). Please visit the below link for more information.

https://www.msci.com/our-solutions/indexes/market-classification

MSCI is a leading provider of global equity indices. It is widely recognised as a benchmark for global institutional investors to optimise their investment portfolios especially passive index funds. It covers companies with good operation results in particular and assessments are based on some objective factors such as market capitalisation, free float and liquidity, foreign inclusion factor requirement and minimum length of trading requirement etc.

Danny Yeung, Chief Executive Officer and Co-founder of Prenetics, said "Our announcement today of our share repurchase program demonstrates our commitment to deliver long term value to our shareholders. We believe the recent volatility not only in the global market but in particular of our shares, driven by the expiry of our lock-up, which are now trading below our net book value of US$207m has provided us with an opportunity to generate strong returns for our shareholders.

Our business fundamentals remain strong with a very healthy balance sheet of US$250m in net current assets, and are on target to deliver an uplifted financial forecast in the range of US$270-280m in revenue and US$47-53m in adjusted EBITDA for FY2022. We remain committed to a disciplined and flexible capital allocation strategy in conjunction with other opportunities such as organic growth, M&A and other forms of accreditive capital deployment.

In addition, Prenetics' inclusion in the MSCI Global Micro Cap Index (Hong Kong) represents a key milestone and reflects the confidence of stakeholders in the Company's long term growth strategy. This is the first index in which Prenetics is included and we look forward to being included in additional indices in the short-term future."

About Prenetics

Founded in 2014, Prenetics is a major global diagnostics and genetic testing company with the mission to bring health closer to millions of people globally and decentralize healthcare by making the three pillars – Prevention, Diagnostics and Personalized Care – comprehensive and accessible to anyone, at anytime and anywhere. Prenetics is led by visionary entrepreneur, Danny Yeung, with operations across 9 locations, including United Kingdom, Hong Kong, India, South Africa, and Southeast Asia. Prenetics develops consumer genetic testing and early colorectal cancer screening; and provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. To learn more about Prenetics, visit www.prenetics.com.

Enquires:

Investors:
investors@prenetics.com

Forward-Looking Statements
In addition to historical information, this release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. These statements include, but are not limited to, statements regarding our future financial and operating performance, including our outlook and guidance, and our strategies, priorities and business plans. These statements include, but are not limited to, statements by our management or the Board regarding expectations for the repurchase of our common shares, including the aggregate amount, timing, and manner of such repurchases, and statements of plans, objectives, and expectations of us, our management or the Board. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could impact our actual results include, but are not limited to: changes in applicable laws or regulations applicable to Prenetics; developments related to the COVID-19 pandemic; the regulatory environment and changes in laws, regulations or policies in which Prenetics operate; Prenetics' ability to successfully compete in highly competitive industries and markets; Prenetics' ability to continue to adjust its offerings to meet market demand; Prenetics' ability to attract customers to choose its products and services and grow its ecosystem; political instability in the jurisdictions in which Prenetics operates; the overall economic environment and general market and economic conditions in the jurisdiction in which Prenetics operates; and Prenetics' ability to execute its strategies, manage growth and maintain its corporate culture as it grows. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties included in Prenetics' filings with the U.S. Securities and Exchange Commission (the "SEC") from time to time. Because of these uncertainties, you should not make any investment decisions based on our estimates or forward-looking statements. Prenetics does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required under applicable law.

Website

Prenetics intends to use its website as a distribution channel of material company information. Financial and other important information regarding the Company is routinely posted on and accessible through the Company's website at https://www.prenetics.com/. Accordingly, we recommend you to monitor the investor relations portion of our website at https://ir.prenetics.com/ in addition to following our press releases, SEC filings, and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about the Company when you enroll your email address by visiting the "Request Email Alerts" section of our investor relations page at https://ir.prenetics.com/. However, the additional information contained on our website is not part of our SEC filings.


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Tianda Pharma Announces 2022/23 Interim Results

HONG KONG, Nov 25, 2022 – (ACN Newswire) – Tianda Pharmaceuticals Limited ("Tianda Pharma" or "the Group"; stock code: 0455.HK) today announced its interim results for the six months ended 30 September 2022 ("the Period"). During the Period, the Group adopted proactive marketing strategy and improved its results notably. Its revenue increased by 5.6% to approximately HK$250 million. Gross profit rose by 10.2% to approximately HK$120 million and profit before taxation, depreciation and amortization turned around from loss of HK$6.9 million in the same period last year to profit of HK$2.3 million for the period.

Recorded strong sales of core products and continued to optimize Chinese medicine business layout
The Group has worked hard cultivating the cardiovascular, cerebrovascular and pediatric disease realms and owns unique generic product pipelines. Boasting notable efficacy and competitive price, Tuoping Valsartan capsules, the Group's core product for treating cardio-cerebrovascular disease, has been ranked the No. 1 best-selling product in its category in Mainland China since the success in securing first place in the nation's Centralized Drug Procurement. During the Period, sales of the product reached HK$92.3 million, representing a year-on-year growth of approximately 21%. Tuoen Ibuprofen oral suspension, a pediatric drug, was among the top three in terms of market share in the country due to effective marketing, achieving strong sales of HK$64.0 million for the Period, up approximately 70% year-on-year.

The Group has basically built for itself a complete traditional Chinese medicine ("TCM") industrial chain, from trading of Chinese medicinal materials, TCM decoction pieces and formula granules to innovative Chinese medicine R&D and international trade. During the Period, it continued to increase operating product varieties, expand sales channels and strengthen procurement sources, including exporting TCM decoction pieces to Australia and planning for importing to China special variety of Chinese medicinal materials from overseas. Insisted on the inheritance and innovation of TCM, it brought in innovative Chinese medicine transformation projects and embarked on cooperation in developing innovative Chinese medicines.

During the Period, overall revenue of TDMalls increased by 81%. The first clinic to adopt the equity investment cooperation model, TDMall (Tsim Sha Tsui) has famous medical experts as shareholders who also participate in the management. Starting to make profit eight months after opening, TDMall (Tsim Sha Tsui) provides valuable experience and serving as a model for expanding the business across the nation and worldwide. The Group is pushing forward with opening a TDMall in Shenzhen, another important step in expanding its presence in the Guangdong-Hong Kong-Macao Bay Area. The Group also continued to invest in "intelligent" development of Chinese medicines. The Chinese medicine cloud technology-based platform "TDMall on Cloud" of the Group played an important role in the Group's "Free Consultation and Medicine" charity campaign during the fifth wave of COVID-19 outbreaks in Hong Kong, offering comprehensive remote Chinese medicine services to the public.

Strengthened R&D across the board and capability to bring in business, actively expanded revenue sources
The Group has insisted on combining generic drug endeavors with innovation and, via its own R&D efforts and cooperation with external R&D institutions, continued to enrich its product pipelines. During the Period, the Group increased R&D investment, spending HK$12.0 million, up 260% year-on-year, set to allow it to come up with more new products that can become new and strong growth drivers for its medium and long-term development. The Group is currently pursuing 22 R&D projects, including class I innovative Chinese medicines, class III new Chinese medicines, class III chemical drug plus APIs, class IV chemical drugs and healthcare product series. During the Period, the Group actively introduced innovative Chinese medicine transformation projects in which the industry, academia, research and medical sectors come together to develop innovative Chinese medicines for treating chronic heart failure. Such initiatives have given the Group a rich and diversified product development portfolio that covers high-end generic drugs, classic Chinese medicines, modern Chinese medicines and healthcare products. The Group also actively introduced approved proprietary Chinese medicine products. Following the acquisition of the proprietary Chinese medicine product Xiaoer Qingre Zhike Granule last year, it acquired Jianerle Granule, a proprietary Chinese medicine for children during the Period, continuing to expand its pediatric product categories.

In addition, the Group launched contract development and manufacturing organization ("CDMO") and contract manufacturing organization ("CMO") businesses to expand its revenue sources and promote business development. As at the end of September 2022, it had seven contracts signed for R&D technology service mainly for liquid pharmaceutical preparations and completed production for two projects during the Period. The two business modes are expected to become growth drivers that can continuously generate revenue for the Group.

Stepped up efforts in three business segments, consolidated business foundation and achieved leapfrog development
To seize the opportunities in the continuously expanding pharmaceutical and healthcare market, the Group will keep growing its three business segments, namely Chinese medicines, medical and healthcare services and pharmaceuticals and medical technologies, in the future. It will also speed up bringing in products and product R&D, strengthen business expansion efforts, and investment and M&As, so as to achieve leapfrog development. For the Chinese medicine business, leveraging the country's policies to vigorously help the Chinese medicine industry develop, the Group will grasp the policy dividend of TCM and continue to develop the whole industry chain, increasing the trading of Chinese medicinal materials focusing on varieties, while accelerating the development of TCM decoction pieces and formula granules, which have huge market potential. It will also actively invest in the R&D and introduction of innovative Chinese medicines, classic ancient prescriptions of Chinese medicines, finished dosages and proprietary Chinese medicines. For its medical and healthcare services business, the Group will strengthen operation of the TDMalls and speeding up expansion via building its own clinics, franchising and mergers and acquisitions, and as well using different equity investment and cooperation modes. While prioritizing the development in the Guangdong-Hong Kong-Macao Bay Area, the Group will push for nationwide and global reach. At the same time, the Group will continue to improve and perfect its "TDMall on Cloud" app to "enhance user experience", for better online and offline integration, providing patients with convenient and intelligent high-quality Chinese medicine services. On the pharmaceuticals and medical technologies business front, the Group will strive to build up its core product brands such as Tuoping and Tuoen, focusing on developing cardio-cerebrovascular and pediatric products and consolidating relevant advantages. It will also expand its sales network to cover lower-tier markets so as to booster market share and actively expand CDMO and CMO business to boost revenue. In the future, it will apply 3D tactics (BD – business development, ID – investment and development, and R&D – research and development) in developing products with market potential, especially major product types, to provide impetus for long-term sustainable development.

About Tianda Pharmaceuticals Limited
Tianda Pharmaceuticals Limited ("Tianda Pharmaceuticals", listed on the Hong Kong Stock Exchange, stock code: 0455.HK) implements the following development strategies: development of Traditional Chinese medicine ("TCM") as its foundation, development of innovative drugs and medical technologies, as well as development of high-quality medical and healthcare services, striving to become a leading pharmaceutical enterprise that sets its footholds in China while seeking to expand its presence worldwide.


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JBM Healthcare Announces FY2023 Interim Results

HONG KONG, Nov 25, 2022 – (ACN Newswire) – JBM (Healthcare) Limited ("JBM Healthcare" or the "Group"; Stock Code: 2161), a leading branded healthcare products marketer and distributor in Hong Kong, has announced today the interim results of the Group for the six months ended 30 September 2022 (the "Reporting Period").

KEY HIGHLIGHTS
— Period-on-period revenue up by 25%, totaled HK$236.8 million
— Profit attributable to equity shareholders increased by 116%, amounting to HK$21.6 million
— The Board declares an interim dividend of HK0.5 cent per share
— Proprietary Chinese medicines business witnessed robust growth of 53.1%
— Cross-border e-commerce business gained traction alongside expanded product offerings and growing customer traffic
— Foreseeable growth of traditional Chinese medicine (TCM) business bolstered by favourable policies for gaining access to Greater Bay Area markets.

Despite the lingering effects of the COVID-19 pandemic and the volatile economic sentiment in Hong Kong, the Group continued to perform in a resilient manner posting total revenue of HK$236.8 million in the Reporting Period, delivering a notable increase of 25% period-on-period. Profit attributable to equity shareholders also increased by 116% period-on-period to HK$21.6 million. Such growth was primarily due to the easing of local social distancing policies, which buttressed retail spending sentiment and led to a gradual recovery of the Group's overall sales, alongside a financial subsidy from the HKSAR Government through the Employment Support Scheme.

The Board declares the payment of an interim dividend for the six months ended 30 September 2022 of HK0.5 cent per share.

Resilient Performance Sustained by Robust Branded Portfolio
During the Reporting Period, the Group has made sound progress in developing its cross-border e-commerce platform, expanding the access of its products to a growing consumer base in Mainland China. Furthermore, the Group continued to implement its growth strategies to keep pace with consumer demand and market opportunities, further leveraging its unique strength to reinforce the Group's competitive position as a farsighted branded healthcare player in Asia. The promising performance was underpinned by the Group's brand management and strong commercial execution capabilities, as well as established sales network.

For the branded medicines business, sales revenue saw a decline of 10.3% period-on-period to HK$56.9 million, mainly due to the adverse impact of the pandemic on retail consumption in Hong Kong and Macau Nonetheless, the category-leading AIM Atropine Eye Drops brand continued to achieve promising growth realising 11.3% sales growth.

Regarding the proprietary Chinese medicines business, sales revenue delivered robust growth of 53.1%, amounting to HK$163 million, which was driven by strong momentum from its Concentrated Chinese Medicine Granules ("CCMG") business as a result of rising recognition and acceptance towards the adjunct therapeutic benefits of Chinese medicine amongst the general public. Our category leading brand, Po Chai Pills, also posted a remarkable growth of over 60% during the Reporting Period.

As for health and wellness products, sales revenue registered a decline of 13.3% to HK$16.9 million during the Reporting Period, which was mainly due to lower sales of certain products in the Hong Kong retail sector, though offset by growth from Oncotype DX and the Pantogar shampoo and tonic series. Oncotype DX posted a robust growth of 19.7% with a sustained momentum during the Reporting Period. With respect to Pantogar, an effective treatment for hair loss as substantiated by clinical studies, it also gained notable success via e-commerce platforms and professional hair salon channels. Pantogar sales was boosted by the launch of a new shampoo and tonic series that feature specialised formulations for women and men.

Accelerating E-commerce Development
The development of the Group's PRC cross-border e-commerce business continued to gather momentum as a result of its sustained efforts to drive expansion across product offerings, platform footholds, and customer traffic.

The two self-operated flagship stores on Tmall Global Marketplace and JD Worldwide achieved significant progress in expanding market share and customer base during the Reporting Period, bolstered by the effective operation and customer service support of its dedicated cross-border e-commerce team. The Group's flagship store has earned a top 8 ranking at Tmall, while Ho Chai Kung Tji Thung San has claimed a top 5 ranking in the pain-killer category of the platform during the Reporting Period.

The Group has continued to strengthen its partnership and operation with major PRC cross-border e-commerce platform customers, which witnessed a notable increase of pre-event purchase orders from B2B partners for the "6.18" and "Double 11" promotions during the Reporting Period. Apart from OTC products, the Group has been also actively enhancing its portfolio with products for tapping new potential categories to target a wider range of consumer groups. The Group's skincare and beauty products are currently sold through VIP Shop, a popular cross-border e-commerce platform for branded lifestyle products, and will be available via a growing array of cross-border e-commerce platforms.

Capturing Growth Potential of Chinese Medicines
The Group's proprietary Chinese medicine business also benefits from the government bureaus' collaborative support in facilitating the entry of Hong Kong's traditional proprietary Chinese medicines into the Greater Bay Area. Leveraging the streamlined measures for the Group's proprietary Chinese medicines portfolio to register with the Guangdong Provincial Medical Products Administration, it has successfully secured approval for registering its medicated oil brands Shiling Oil and Konsodona Medicated Oil in the Greater Bay Area.

Mr. Patrick Wong, Chief Executive Officer of JBM Healthcare, said, "In the wake of adverse market sentiments, pragmatism and persistence have never been more important as we navigate through the challenges that the pandemic has introduced to the business landscape. The pandemic has heightened health awareness and accelerated consumers' shift towards a more proactive approach in managing their health and wellness, which will further shore up self-care demand. The Group, as a key proprietary Chinese medicine and CCMG market player in Hong Kong, is also well poised to tap the burgeoning market in the Greater Bay Area, supported in part by favorable policies that encourage the development of TCM in the region and which will create more prospective business opportunities.

Looking ahead, we remain optimistic about the outlook for the healthcare industry. Adhering to our mission of enabling better health through self-care, we will continue to focus on developing our growth strategies based on the objectives of greater resilience and operational efficiency, and capitalise on market opportunities by helping consumers better manage their health through quality and well-trusted branded healthcare products."

About JBM (Healthcare) Limited (Stock Code: 2161)
JBM Healthcare is a Hong Kong-based company that markets and distributes branded healthcare products across Greater China, Southeast Asia and certain other countries. The Group is a unique field player with marketing expertise and a drug heritage that prioritises product efficacy and quality to meet consumers' healthcare needs. As a renowned healthcare brand operator in Hong Kong, the Group carries a wide-ranging portfolio of branded healthcare products comprising branded medicines, proprietary Chinese medicines and health and wellness products, which include well-recognised household brands such as Po Chai Pills, Ho Chai Kung Tji Thung San, Contractubex, BITE-X, Mederma Kids, Tong Tai Chung Woodlok Oil, Flying Eagle Woodlok Oil, Saplingtan, Shiling Oil and Konsodona Medicated Oil. JBM Healthcare has been a constituent stock of the MSCI Hong Kong Micro Cap Index since 27 May 2021. For more details about JBM Healthcare, please visit: www.jbmhealthcare.com.hk


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Jacobson Pharma Announces FY2023 Interim Results

HONG KONG, Nov 25, 2022 – (ACN Newswire) – Jacobson Pharma Corporation Limited ("Jacobson Pharma" or the "Company"; Stock Code: 2633), a leading company engaged in the research, development, production, marketing and sale of essential medicines, specialty drugs and branded healthcare products, today announced the interim results of the Company and its subsidiaries (collectively the "Group") for the six months ended 30 September 2022 (the "Reporting Period").

KEY HIGHLIGHTS
— Revenue grew by 8.9% period-on-period, totaled HK$817.4 million
— Profit for the period up by 77.8%, amounted to HK$147.4 million
— Profit attributable to equity shareholders up by 70.2%, amounted to HK$136.2 million
— Sound financial position with net gearing ratio decreased from 29.2% to 20.8%
— The Board declares an interim dividend of HK2.8 cents per share
— Promising sales growth witnessed on certain key therapeutic lines including cardio-vascular, anti-diabetic as well as cold and flu products.
— Arsenic Trioxide Oral Solution, being the first specialty medicine made in the Group's PIC/S GMP plant alongside robust clinical substantiation, attained approval for use in designated hospitals in the Greater Bay Area

During the Reporting Period, the Group delivered total revenue of HK$817.4 million, which represented a period-on-period growth of 8.9%. Gross profit increased by 24.8% to HK$340.4 million, whilst profit attributable to equity shareholders amounted to HK$136.2 million, up by 70.2%, which was mainly attributed to the uplifted sales revenue, alongside the enhancement in product mix and operating leverage, coupled with the subsidies from the HKSAR Government pertinent to the Employment Support Scheme.

The Group maintains a healthy financial position as supported by its strong cash flows, with adjusted EBITDA of HK$290.5 million for the Reporting Period and the net gearing ratio decreased significantly from 29.2% as at 31 March 2022 to 20.8% as at the end of the Reporting Period. In addition, the Group has a sound cash position, with cash and cash equivalents of HK$860.4 million as at the end of the Reporting Period. The Board declares the payment of an interim dividend for the six months ended 30 September 2022 of HK2.8 cents per share, up by 133.3% as compared to HK1.2 cents of FY2022 Interim.

Robust Portfolio of Essential Medicines to Meet Healthcare Demand
During the reported period, the generic drugs business of the Group demonstrated resilient performance, driven by steady growth in both private and public sectors. Overall growth was benefitted from the easing of social distancing measures which facilitated the resumption of medical consultation visits in both public and private sectors in Hong Kong, thus boosting the demand for essential drugs as well as specialty medicines.

Amid the fifth wave of the epidemic outbreak, the Group geared up its production and supply of symptomatic relief medicines to cater for the increased public demand, which was reflected by the growth of 48.5% in the Group's range of cold and flu preparations in the public sector for the Reporting Period.

In addition, exhibiting a robust trend, medications for the aging population and chronic disease patients continued to present a strong demand. A case in point was that angiotensin II receptor antagonists and lipid-lowering products in the cardiovascular product class recorded a strong growth of 66.4% and 60.0% respectively in the private sector during the Reporting Period.

Steady Product Pipeline and Continuous Efforts in Portfolio Enhancement
As a continuous effort to meet the medical and patient needs with quality essential medicines, the Group launched a number of new products including Atorvastatin Tablet, Trimetazidine Modified Release Tablet, Olmesartan Tablets, Bicalutamide Tablet, Ofloxacin Ear Drop and Idarubicin Injection during the Reporting Period. Additionally, the Group has secured registration approval for 21 new products for upcoming market launches.

As of 30 September 2022, the Group has a total of 177 products in its research and development pipeline, among which 59 items have been approved for registration, 14 of them have been submitted for registration, 48 items have finished the development stage and are under stability preparation or stability study, and 27 items currently under formulation or pre-formulation research development stage.

Making In-roads into the Greater Bay Area
The Group's collaboration with the University of Hong Kong-Shenzhen Hospital in introducing its oral solution treatment for acute promyelocytic leukemia, Arsenic Trioxide Oral Solution, into designated hospitals in the Greater Bay Area has been given approval by Guangdong Province Medical Product Administration. This marked the first Hong Kong-made specialty medicine ever gained approval under the "Interim Regulations on the Administration for Importing Urgently Needed Clinical Drugs and Medical Devices from Hong Kong and Macao to the Guangdong-Hong Kong-Macao Greater Bay Area of Guangdong Province".

Formulation of ESG Strategy and Respective KPIs
As a corporate citizen that places long-term commitment to environmental, social and governance ("ESG") duties, Jacobson Pharma has formulated and progressed on its ESG strategy, "Jacobson 5 to Thrive", which underpins five priority areas, namely, product responsibility, commitment to employees, environmental stewardship, societal engagement and corporate governance duty. In response to such strategy, key performance indicators (KPIs) have been set and will continue to be evaluated from time to time in order to track respective progress on priority issues and programs, including greenhouse gas emissions, water and electricity usage, as well as utilisation of renewable energy.

Mr. Derek Sum, Chairman and Chief Executive Officer of Jacobson Pharma, noted, "Although COVID-19 has had an impact on the Group's business performance, we believe it will be transient. We are delighted that Jacobson Pharma achieved notable growth momentum in the first half of FY2023 amid the volatile economic sentiment. Thanks to the concerted effort of our teams, we delivered a resilient performance across both private and public sectors for our core business demonstrating an enhanced operational efficiency and a disciplined cost control.

"We remain positive about the future outlook of the healthcare industry and the growth prospect of the market for essential medicines. To capitalise on the emerging opportunities, we will continue to focus on advancing the Group's growth strategies and positioning it as an eminent provider of essential medicines and specialty drugs in Hong Kong and the Greater Bay Area."

About Jacobson Pharma Corporation Limited (Stock Code: 2633)
Jacobson Pharma is a leading pharmaceutical company in Hong Kong vertically integrated and engaged in the research, development, production, sale and distribution of essential medicines and specialty drugs. As a major provider of generic drugs in Hong Kong, the Group has one of the most extensive sales and distribution coverage for both the private and public sectors in Hong Kong, with an expanding reach into strategically selected Asian markets. Carrying a broad product portfolio and taking a pre-eminent market position in a number of therapeutic categories, the Group operates a host of 10 PIC/S GMP licensed production facilities for generic drugs in Hong Kong.

The Group aims at the continued strategic enrichment of its generic drug portfolios through the addition of high-value-added products. With its corporate headquarters based in Hong Kong, the Group has also established its operating subsidiaries in China, Macau, Taiwan and Cambodia, forming a regional commercial platform to tap the market potential in the Asia Pacific and Greater China region. Jacobson Pharma has been a constituent stock of MSCI Hong Kong Micro Cap Index since 1 June 2017. For more details about Jacobson Pharma, please visit the Group's website: http://www.jacobsonpharma.com


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

EC Healthcare Announces FY2022/23 Interim Results, Revenue Increased 31.1% YoY Mainly Driven by Medical Services

HONG KONG, Nov 24, 2022 – (ACN Newswire) – EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong, announces today its unaudited interim results for the six months ended 30 September 2022 (the "Period").

Business Highlight
— Total revenue increased by 31.1% YoY to HK$1,893.2 million
— Revenue from medical services segment rose by 47.5% YoY to HK$1,174.8 million, boosting its revenue contribution to 62.1%
— Revenue from aesthetic medical and beauty and wellness services segment decreased by 2.0% YoY to HK$607.4 million, accounted for approximately 32.1% of total revenue
— Driven by previous acquired veterinary business, revenue from other services increased by 301.9% YoY to HK$111.0 million, represents 5.8% of the total revenue
— Organic revenue(1) increased by 22.8% YoY to HK$1,773.7 million, accounting for 93.7% of the total
— EBITDA during the period was HK$269.9 million
— Net profit after tax for during the period was HK$105.2 million
— Basic earnings per share during the period amounted to 6.8 HK cents
— The Board declared an interim dividend of 5.8 HK cents per Share, representing a payout ratio of 85.3%, which will be payable in cash
— As at 30 September 2022, the total valuation of the Group's M&A transactions executed was HK$219.3 million, spanning medical specialty services, veterinary and health screening services, which further strengthened the Group's medical services layout.
— The Group's suite of medical services spans 35 specialties and disciplines, and the number of full-time and exclusive registered practitioners has increased to 293
— The Group has maintained premium service quality with 99.98%(6) of customers' satisfaction rate
— The contribution from existing customers accounted for 71.6%(3,7) to the Group's total revenue.
— Customer loyalty remained high with repurchase purchase rate of 93.7%(4,7).
— Total number of service points increased to 154, total gross floor area ("GFA") increased by 24.1% YoY to approximately 557,000 sq. ft

During the Period, the Group stayed resilient in the face of multiple challenges, including global economic downturn, absence of medical tourism amidst prolonged travel restrictions, weak local retail sentiment and business disruptions caused by the fluctuation of COVID-19. Thanks to robust demand on the Group's medical services and its diversified business strategy, the Group was still able to increase its medical market share, diversifying its scope of services, and bolstering its leading position in the healthcare sector as Hong Kong's largest non-hospital medical service provider.

The demand for medical services provided by the Group remains strong, and the Group able to increase its market share during the period. During the Reporting Period, sales volume increased by 18.3% year-on-year ("YoY") to HK$1,812.4 million. Revenue increased by 31.1% YoY to HK$1,893.2 million. Organic revenue(1) of the Group increased by 22.8% YoY to HK$1,773.7 million, accounting for 93.7% of the total driven by effective sales strategy. The total valuation of the Group's M&A transaction executed during the Period was HK$219.3 million, spanning medical specialty services, veterinary and health screening services, further strengthening the Group's client-centric services layout.

Nevertheless, the Group's net profit after tax for during the period decreased by 46.3% YoY to HK$105.2 million. Net profit margin was under pressure and decreased by 8.0 percentage point to 5.6% due to the Compulsory Closure of the Group's beauty and wellness businesses in Hong Kong and Macau as well as business disruption in Mainland China from COVID-19. Increasingly fierce competitive landscape, rising cost structure from inflation, temporary low operation leverage of the newly established service points from previous financial year and increase depreciation and amortization expenses incurred from the newly acquired medical assets undermined the Group's profitability during the Period. In addition, the capital expenditures expended on organic expansions of our new medical facilities are yet to commence services to generate income within the period. As a result, the net profit attributable to equity shareholders of the Company was HK$80.0 million. Basic earnings per share was 6.8 HK cents, compared to 14.2 HK cents for the same period last year.

With excellent customer service provided by the professional teams, the Group had built a loyal customer base through our enclosed ecosystem over the years. During the Period, the number of unique customers steadily increased to 122,883(2,7) and the contribution from existing customers accounted for 71.6%(3,7) to the Group's total revenue. Customer loyalty remained high with repurchase purchase rate of 93.7%(4,7). Driven by the synergies created by the Group's enclosed healthcare ecosystem, over 28.1%(5) of its customers had made purchases across its various brands in the Period. Meanwhile, the Group maintained premium service quality with 99.98%(6) of customers' satisfaction rate.

The number of service points increased through organic expansion and acquisitions. As at 30 September 2022, the Group had a total number of 154 service points comprising 134 in Hong Kong, 4 in Macau and 16 in Mainland China with the total aggregate GFA increased by 24.1% YoY to approximately 557,000 sq. ft. Out of the net increase of approximately 108,000 sq. ft. compared to first half of FY22, approximately 69.1% came from medical business and approximately 22.8% came from aesthetic medical and beauty and wellness services business respectively. The Group's suite of medical services spans 35 specialties and disciplines, and the headcount of full-time and exclusive registered practitioners has increased to 293.

Strong growth in medical segment
Medical segment being the essential needs and continued to be the key growth driver. The Group continued to gain market share in the healthcare services industry through both organic expansion and M&A growth. Revenue from the Group's medical services segment rose by 47.5% YoY to HK$1,174.8 million, boosting its revenue contribution to 62.1%, of which organic expansion and M&A completed during first half of FY23 accounted for approximately 90.8% and 9.2% respectively. Organic growth was driven by surged demand, effective sales strategy and rising healthcare sentiment. During the Period, the total valuation of acquisitions executed in medical segment was HK$175.1 million.

Mild decline in aesthetic medical & beauty and wellness services segment
During the Period, revenue contributed by aesthetic medical and beauty and wellness services decreased by 2.0% YoY to HK$607.4 million, accounted for approximately 32.1% of total revenue. Revenue from Hong Kong recorded a mile decline of 5.4% YoY to HK$460.7 million due to 20 days of Compulsory Closure in April 2022 and followed by a gradual recovery from pent-up demand. Mainland aesthetics market facing business disruption caused by COVID. During the Period, revenue from Mainland China increased by 12.6% YoY to HK$89.8 million despite an average of 26 days, 10 days and 122 days of business disruption in Shenzhen, Guangzhou and Shanghai, respectively. Revenue from Macau increased marginally 7.7% YoY to HK$56.8 million due to an average of 31 days of Compulsory Closure.

Booming growth in others segment
During the Period, revenue from other services increased by 301.9% YoY to HK$111.0 million, representing 5.8% of the total revenue, primarily attributable to the M&A expansion into the veterinary sector.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "While Hong Kong local consumption gradually recovers, benefitting from the Hong Kong Government's pandemic policy stance towards "Normalization" with lifting off quarantine for inbound travelers, the recessionary market backdrop could still pose headwinds to our businesses. Yet, we believe that the medical market remains lucrative and public-private partnership will continue to increase Hong Kong's private medical spending in the long run.

As part of our accretive acquisition strategy, we will continue to diversify within the medical and beauty sectors with acquired brands that are complementary and add value to our core business in order to build a one-stop healthcare and wellness platform to expand customer's lifetime value. We will also expand the strategic partnerships with key players in technology, telecom, insurance, property, and pharmaceutical industries to form our healthcare ecosystem.

We have been striving to improve our operational excellence by enhancing corporate structure and management capability, optimizing our resources with priorities through digital transformation. The Group will continue to enhance its talent's productivity and loyalty through the unique "Co-Owner" and "Servant Leadership" company culture."

About EC Healthcare
EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021

Note:
1 Total revenue minus revenue recognized from the newly acquired assets during period.
2. Based on revenue for the year.
3. Revenue contribution by existing customers to the total revenue for the period
4. Annualise revenue from old customers during the reporting period, divided by FY22 total revenue.
5. Number of customers who purchased services from more than one brand for the period divided by total number of customers for the period. Based on data from internal system, include data from 31 brands
6. 100% minus the percentage of material unfavorable feedback of total revenue for the period
7. Based on data from internal system, include data from 39 brands

For further information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk / Tim Tin
Tel: (852) 2136 6952 / 2169 0467 / 3920 7654
Fax: (852) 3170 6606
Email: ech@iprogilvy.com


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