GP (HK) Acquires Shenming Medical Technology Co., Ltd. Obtains All Rights of an Innovative Thermosensitive Embolic Agent for the Treatment of Liver Cancer. Further Expands the Tumor Intervention Treatment Product Pipeline
(May 26, 2021 - Hong Kong) China Grand Pharmaceutical and Healthcare Holdings Limited (“GP (HK)” or the “Company”, together with its subsidiaries, the “Group”, stock code: 00512) is pleased to announce that the Group recently entered into an equity transfer agreement (“Transfer Agreement”) with Jiangsu Shenming Medical Technology Co., Ltd. (江蘇申命醫療科技有限公司)(“Shenming Medical”), pursuant to which the Group will invest RMB22.6 million and obtain 100% equity interest of Shenming Medical after relevant conditions as agreed in the Transfer Agreement are fulfilled, and will thereby obtain all rights of the development and commercialization of the thermosensitive embolic agents for the treatment of liver cancer and the subsequent development of gel products developed by Shenming Medical. The thermosensitive embolic agent product of Shenming Medical is a tumor product that has been granted innovative medical devices by the National Medical Products Administration of China (“NMPA”).
The Group always puts focus on the research and development (“R&D”) of innovative products and advanced technologies. Sticking to patients-centered and innovation-driven, the Group will continue to increase its investment in the world-class innovative products and advanced technologies to meet unmet clinical needs, and enrich product pipeline and improve supply chain. The Group adopts the strategy of “global expansion and dual-cycle operation”, forming a new pattern of domestic and international cycles that synergize with each other. In this way, the Group can make full use of its industrial advantages and R&D capabilities, to accelerate commercialization process for innovative products and provide patients with more advanced and diverse treatment options in the world.
Shenming Medical, established in 2017, is a medical device research and development company, focusing on embolization products for tumor interventional treatment. Its main product is a thermosensitive embolization material for the treatment of hypervascular benign and malignant tumors. At room temperature, the gel has good fluidity. After being delivered to the blood vessels of the diseased tissue through the microcatheter, the gel forms in-situ gel from the peripheral blood vessel to the main supply vessel at body temperature, realizing the embolization of the blood vessel in diseased tissue. It is suitable for embolic treatment of various hypervascular parenchymal organs tumors, especially for the liver hypervascular benign, moderate and malignant tumors.
China, as a country with a high morbidity of liver tumors, accounts for nearly half of the new cases of liver cancer in the world every year. According to the Guidelines for the Diagnosis and Treatment of Primary Liver Cancer (2019 Edition), Transarterial Chemoembolization (“TACE”) is the first choice for the treatment of middle and advanced liver cancer. TACE uses liquid embolic agent iodinated oil and solid embolic agent drug-loaded microspheres as chemotherapeutic drug carriers. Liquid embolic agents have defects such as easy scouring, while solid embolic agents have defects such as inability to embolize the end of blood vessels. As a drug-loadable, bioabsorbable, and visible thermosensitive embolic agent, Shenming Medical’s thermosensitive embolic agent is a tumor product that has been granted innovative medical device by NMPA. The combination of drug loading capacity and embolization can make up for the defects of existing TACE treatment methods. Moreover, due to the drug-loading characteristic of this product, it will be possible to jointly launch a new combination product with SIR-Spheres® Y-90 resin microspheres in the future to expand the scope of application of single products and extend the product life cycle.
The Board of China Grand Pharmaceutical and Healthcare Holdings Limited, commented, “The acquisition of thermosensitive embolic agents will further improve the Group's strategic plan in the field of tumor intervention. The development experience and market resources of various tumor treatment products can form a significant synergistic effect. In the future, the Group will continue to expand its strategic planning in anti-tumor field and increase its investment in the world-class innovative products in the fields of radiopharmaceuticals and precision interventional therapy, strive to provide patients with more diverse treatment options to benefit more patients, and create greater returns for shareholders.”