BRIM Biotechnology enters OTC trading in Taiwan
Taipei, Taiwan, 23rd June 2022 / Sciad Newswire / BRIM Biotechnology, Inc. (BRIM, TWSE 6885) enters OTC trading in Taiwan on 23rd June 2022, CST. The news was announced at the company’s first earnings call on 22nd June 2022.
Established in July 2013, BRIM is a clinical-stage company developing novel regenerative therapies to help combat and cure ophthalmology and degenerative joint diseases. BRIM applies world-leading expertise in translational science to accelerate the development of early research technology platforms to clinical drug candidates. BRIM is led by Chairwoman and CEO Dr. Haishan Jang, and the company’s current paid-in capital is approximately 23 million USD.
BRIM has several novel drug products in its pipeline, all underpinned by the company’s proprietary stem cell regenerative Pigment Epithelium-Derived Factor (PEDF) derived Short Peptide (PDSP) technology platform.
BRIM’s lead candidate BRM421 has the potential to be a first-in-class peptide treatment for Dry Eye Syndrome (DES). Phase II/III clinical trials completed in the U.S. demonstrate that the drug has the potential to speed up the repair of corneal damage through stimulation of corneal stem cell proliferation and differentiation, as well as to treat disease symptoms. Data demonstrate that BRM421 is safe and well-tolerated with a unique early onset curative effect1.
In only seven years, BRIM has progressed BRM421 from pre-clinical to late-stage clinical trials and has successfully licensed the commercial rights in greater China (China, Hong Kong, and Macau) to Grand Pharma (China) Co., Ltd (HK00512). The rapid development and significant licensing deals reflect the unique advantage of the PDSP technology platform and BRIM’s expertise.
Dr. Jang commented, “Our goal is restoration and repair of the damage caused by DES. The PDSP technology platform underpinning BRM421 and other assets in our pipeline could revolutionize the ophthalmology and degenerative joint disease fields. If successful, BRM421 could treat millions of people around the world living with DES and provide an excellent example of a first-in-class new drug developed in Asia. OTC trading brings us one step closer to achieving our vision to bring sustainable and affordable healthcare innovation to the world.”
DES is a common yet complex chronic disease. According to Global Data (2020)2, the DES market size in 2018 was approximately 3.9 billion USD across nine markets (US, France, Germany, Italy, Spain, UK, Japan, China, and India). This market is expected to grow in scale and size due to heavy screen-time usage, greater use of contact lenses and increasing numbers of eye surgeries3. Global Data predicts that the DES market size will reach approximately 11 billion USD in 20282. Research also suggests that COVID-19 increases the risk of developing DES4.
Currently, treatment options for DES are very limited and most treat the symptoms rather than the disease. Existing treatments include anti-inflammatories or artificial tears and lubricants, none of which repair the damage caused by DES.
Peptides shorter than 40 amino acids, such as BRM421, are categorized as small molecules, meaning they follow the New Drug Application (NDA) regulatory pathway rather than the Biologics License Application (BLA) pathway. This significantly reduces development time and costs, making novel peptides an attractive new treatment option for many pharmaceutical companies.
Beyond BRM421, BRIM’s PDSP technology platform can be applied across multiple therapy areas and indications. Early research indicates that the PDSP technology platform demonstrates efficacy in corneal wound healing, diabetic ulcer wound healing, osteoarthritis, androgenic alopecia, and muscle/tendon regeneration. BRIM has a rapidly expanding pipeline which includes treatments for severe corneal damage (BRM423), and osteoarthritis (BRM521).
“With this next step of OTC trading, we are excited to progress development at an accelerated pace and will continue our journey in ophthalmology to bring the first regenerative peptide therapy for DES to the market in the near future, as well as apply our learnings to a wide range of other diseases with significantly unmet need,” said Dr. Jang.
For more information, contact:
BRIM Biotechnology, Inc.
T: 886 2 2659 8586 #111
Maria Patey / Sophie Protheroe
T: 020 3405 7892
Notes to Editors
About BRIM Biotechnology, Inc.
BRIM Biotechnology, Inc. is a clinical-stage company developing novel regenerative therapies in ophthalmology and degenerative joint diseases. Established in July 2013 to accelerate the development and transformation of early research technology platforms to clinical drug candidates, BRIM applies world-leading expertise in translational science to develop new treatments that help combat and cure disease. The company’s virtual business model, combined with its proprietary PDSP technology platform, bridges the gap between research and clinical development faster, de-risks the process, and accelerates the progression of early-stage candidates in indications with high unmet medical needs.
For more information, please visit www.brimbiotech.com.