Nutra Pharma completes JV meetings with Nanogene
ReceptoPharm, the drug discovery division of Florida-based biotech firm, Nutra Pharma, has completed initial discussions with Zhong Xin Dong Tai Co. Ltd. (Nanogene Biotechnology) to develop RPI-MN for the Chinese market.
|ReceptoPharm, the drug discovery division of Florida-based biotech firm, Nutra Pharma, has completed initial discussions with Zhong Xin Dong Tai Co. Ltd. (Nanogene Biotechnology) to develop RPI-MN for the Chinese market.
RPI-MN is the lead drug candidate of ReceptoPharm, which is being researched for the treatment of HIV/AIDS and other viral disorders. ReceptoPharm develops technologies for the production of drugs for HIV and multiple sclerosis.
The meetings, which took place in the Shandong Province in eastern China, were hosted by Nanogene Biotechnology to discuss the potential Chinese market size, the structure of the joint venture and the required studies needed to begin the regulatory process.
According to the signed MoU, ReceptoPharm will need to confirm safety and efficacy of RPI-MN by completing pre-clinical studies at Soochow University, while Nanogene Biotechnology will provide the drug raw material and ReceptoPharm will modify the products and provide the proper study protocols. Upon successful completion of the pre-clinical studies, ReceptoPharm and Nanogene Biotechnology will proceed with clinical trials aimed at gaining full regulatory approval in China.
“We look forward to working with Nanogene Biotechnology to create this joint venture aimed at helping millions of Chinese patients suffering from viral disorders,” commented Mr Paul Reid, CEO of ReceptoPharm, Inc. “We were surprised to learn from Nanogene Biotechnology that the potential Chinese antiviral market is estimated to be around $280 billion. This is approximately 10 times greater than the antiviral market in the United States,” he added.