TAIPEI, Taiwan, March 22, 2023－TaiGen Biotechnology Company, Limited (“TaiGen”) today announces that they have signed an exclusive licensing agreement with Joincare Pharmaceutical Group Industry Co., Ltd., a top 10 China pharmaceutical company, to develop and commercialize TG-1000 in China. TG-1000 is a novel pan-influenza antiviral, which interrupts viral replication and transmission via a cap-snatching mechanism to demonstrate broad-spectrum activity against influenza-A, influenza-B, avian flu H7N9, and Tamiflu-resistant viruses.
Upon the agreement takes effect, Joincare will be responsible for the subsequent development, registration, and commercialization of TG-1000 in the territory by undertaking all costs of clinical trials. The territory includes China, Hong Kong and Macao. Under the terms of the agreement, Joincare will make an upfront payment of RMB 20 million and milestone payments, followed by up to 11% of royalties.
TG-1000 is a novel pan-influenza antiviral by interrupting viral replication and transmission via a cap-snatching mechanism, which reveals its efficacy against influenza-A, influenza-B, avian flu H7N9, and Tamiflu-resistant viruses. TG-1000 phase II clinical study has been completed, and the data indicate that TG-1000 effectively alleviate flu symptoms and clear flu viruses.
Kuo-Lung Huang, Chairman and Chief Executive Officer of Licensor, said, “We are highly confident in the successful development of TG-1000. Joincare is one of the TOP 10 pharmaceutical companies in mainland China, and its revenue and R&D investment rank sixth and fifth among listed pharmaceuticals in mainland China, respectively. By partnering with Joincare, TaiGen will be able to tap into these potential marketplaces with TG-1000.”
Baoguo Zhu, Chairman of Joincare Pharmaceutical, said, “TaiGen is highly experienced in the development of innovative drugs against infectious diseases. Both pre-clinical and clinical trial data with TG-1000 treatment exhibit excellent performance by reducing virus load and pharmacokinetics in flu-infected animals and patients. The partnership between TaiGen and Joincare will fulfill the unmet medical need by delivering TG-1000 to the patients with improved quality of life.”
The license agreement is the first step of TG-1000 global licensing strategy, and it’s also the first milestone of business partnership after the COVID-19 pandemic. Next step of TaiGen is to focus on the licensing in the territories of Europe, the U.S. and other marketplaces.
Influenza is a critical infectious disease listed as one of the TOP 10 global health threats. With the loosening of the COVID-19 epidemic prevention measures, the flu has come back again. Australia has had its worst flu season in 5 years in 2022. The US CDC estimated 26~50 million people infected and 18,000~55,000 patients died in 2022~2023 flu season. The flu infection in mainland China has surpassed the peak of the past three years.
About Joincare Pharmaceutical Group
Joincare Pharmaceutical Group Industry Co., Ltd. ("Joincare") (Stock code: 600380), established in 1992, is a TOP 10 leading pharmaceutical group in China. The company has always adhered to technological innovation as its strategic basis, and its strategic goal is to build a high-barrier complex preparation technology platform. Currently, it has deployed four high-barrier complex preparation R&D platforms. It owns two large listed companies of Joincare and Livzon Pharmaceutical, more than 20 holding subsidiaries.
About TaiGen Biotechnology
TaiGen Biotechnology is a fully-integrated pharmaceutical company combining drug discovery & development, global regulatory approval & registration, and commercialization. This business strategy capitalizes on the extensive expertise by senior executives whom were recruited from major pharma in the West and from Asian-based multinational companies. TaiGen was listed in Taiwan OTC Stock Market on the 17th Jan. 2014. To date, there are approx. 716 million shares issued and outstanding, with a par value of US$0.001.