EIRGENIX HOLDS ITS PRE-IPO PRESS CONFERENCE
EirGenix, Inc. (6589) held its pre-IPO press conference on May 28th at the the Shangri-La’s Far Eastern Plaza Hotel in Taipei. Currently, the company is on schedule to be listed as a public company on the Taipei Exchange before the end of June. EirGenix recently announced this past April that it has entered a licensing agreement with global biosimilar manufacturer Sandoz AG for the marketization of EirGenix’s self-developed breast cancer biosimilar drug, EG12014 (Trastuzumab biosimilar to Roche/Genentech's Herceptin). The signed licensing agreement authorizes Sandoz AG the exclusive sales and marketing rights of the biosimilar in all regions except Taiwan and mainland China. This licensing agreement is a milestone moment in Taiwan with EirGenix becoming the first biopharmaceutical company in Taiwan to have its locally-developed biosimilar drug taken to the global market alongside a large player in the global biopharmaceutical market. Under the terms of the signed agreement, EirGenix will be entitled to an initial signing payment, milestone payments, and profit share payments in the authorized markets.
After the signing of the global licencing agreement with Sandoz AG, news of the collaboration has not only circulated throughout the Asia region, but has spread across the entire global biopharmaceutical community. Within a month of the announcement, the spotlight has turned on EirGenix with many within the international arena turning their attention and awareness to EirGenix, including large multinationals such as Pfizer, Amgen, Merck/Mylan, and Celltrion. EirGenix’s increased exposure as a highly capable biosimilar developer has led to collateral benefits, bringing about increased interest and inquiry into the company’s contract development and manufacturing (CDMO) services. The collaboration with Sandoz AG, with its extensive experience and advantages in the global sales, marketing, and distribution of drugs, is predicted to jumpstart EirGenix’s own business development. The partnership will accelerate the company’s overall expansion of its operations and market penetration, thereby paving way for an even more productive and profitable future.
The development of EirGenix’s EG12014 is still currently ongoing with Phase III global clinical trials in progress. As of May 21st, the clinical trials are on track with its planned schedule with 62 clinical trial centers opened so far, and with the final patient cases to be completed by the first quarter of 2020. EirGenix is expecting to complete its evaluation of EG12014’s main efficacy indicators by the first quarter of 2021, to which it will then prepare its application for registration of drug review and inspection. Concurrently, EirGenix has been working on negotiating sales rights in mainland China and hopes to secure those rights swiftly.