Beijing Med-Pharm Corporation and pSivida Reach Agreement to Distribute BrachySil™ Throughout People's Republic of China
Plymouth Meeting, PA, October 26, 2005 - Beijing Med-Pharm Corporation (BJGP.PK) and pSivida Limited (ASX:PSD, NASDAQ:PSDV, Xetra:PSI) today announced that they have signed a licensing agreement for the clinical development, marketing, and distribution of pSivida's lead product, BrachySil™, in the People's Republic of China.
Under the terms of the license, pSivida will manufacture BrachySilTM and Beijing Med-Pharm will be responsible for clinical development, securing regulatory approval, marketing, and distribution in China.
Beijing Med-Pharm is a US-based company with Chinese subsidiaries that offers an end-to-end solution to Western pharmaceutical companies that wish to sell their products into the Chinese marketplace.
In December 2004, Beijing Med-Pharm initiated the first-ever purchase by a foreign entity of a Chinese pharmaceutical distribution company when it signed an agreement to purchase a 100% equity interest in Beijing Wanwei Pharmaceutical Co., Ltd., a pharmaceutical distributor covering the bulk of Beijing's hospitals. In a historic event, this purchase was approved by the Ministry of Commerce of the People's Republic of China on October 18, 2005.
BrachySil™ (32-P BioSilicon™) will enter a Phase IIb dose-profiling study shortly as a potential new treatment for primary liver cancer (also called hepatocellular carcinoma or HCC). China has the highest incidence of HCC in the world, with over 345,000 estimated new cases per annum (Globocan), representing 55% of total worldwide cases. Given the clinical proof of principle already established for BrachySil™, focused programs are being prepared to exploit its broader utility in other significant cancer indications, including inoperable pancreatic and secondary liver disease.
"China is the world's fastest growing market for pharmaceuticals with a large and steadily increasing incidence of the types of cancer that we believe BrachySil™ can effectively treat," says Gavin Rezos, Managing Director of pSivida.
"Beijing Med-Pharm has an excellent model for gaining entry into this market, and we look forward to developing a market for BrachySilTM in partnership with them."
"BrachySil™ is a highly innovative product addressing a significant patient population in China," says Martyn Greenacre, Chairman of Beijing Med-Pharm.
"We hope to be able to deliver this product to a large and growing market throughout China."
For further information please contact
Amphion Innovations plc
Josh Berkman, Media Relations
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About Beijing Med-Pharm
Beijing Med-Pharm Corporation is a pharmaceutical marketing company that offers the following services in China through its wholly-owned subsidiary, Beijing Med-Pharm Market Calculating Co. Ltd.: pre-market entry analysis; clinical trial management; product registration; market research; and pharmaceutical marketing to physicians, hospitals and other healthcare providers.
On the web: www.beijingmedpharm.com
About Amphion Innovations plc
Amphion Innovations plc recently listed on the AIM Exchange in London under the symbol AMP.L. Amphion's business is the formation, financing, management, and development of life science and technology companies, working in partnership with corporations, governments, universities, and entrepreneurs seeking to commercialize their intellectual property.
On the web: www.amphionplc.com