China Medical System Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that the Group through its wholly-owned subsidiary entered into an Asset Purchase Agreement (the “Agreement”) with Blueberry Therapeutics Limited (“Blueberry Therapeutics”) dated 14 August 2018. According to the Agreement, the Group has acquired all related assets of Blueberry Therapeutics’ leading product BB2603 (for the treatment of onychomycosis and tinea pedis) in China (including Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan), Republic of Korea, Democratic People’s Republic of Korea and Mongolia (the “Territory”); the Group further acquired access to all related assets of other pipeline products being or to be developed subsequently by Blueberry Therapeutics utilizing its unique nanoformulation delivery system in dermatology and other fields (such as products used for treating atopic dermatitis and acne, etc.,) in the Territory. The aforementioned assets include, among others, all the national patents covering the development, commercialization and formulation of the Products, national trademarks and necessary regulatory approvals in or for the Territory. In addition, the Group also acquired all the necessary licenses related to the transaction under the Agreement.
Blueberry Therapeutics’ nanoformulation delivery system is an innovative, proprietary pharmaceutical technology platform in which small and large molecules (e.g. proteins, peptides and nucleic acids) can be rapidly assembled and packaged into nanoparticles. The delivery of these nanoparticles to both mammalian and bacterial cells is greatly enhanced, which overcomes the limitations of some existing therapies and opens up new therapeutic possibilities. Based on this technology platform, the Company will seek strategic cooperation with Blueberry Therapeutics to develop more new nano-preparations in the future, including but not limited to creams, sprays, patches, etc., which can be widely used in dermatology and other fields.
BB2603 (terbinafine-nano) is a novel cutaneous spray of terbinafine hydrochloride with nanotechnology, for the treatment of onychomycosis and tinea pedis. Terbinafine has a wide range of antifungal activity against pathogenic fungi of skin, hair and nails and is recommended for the treatment of onychomycosis and tinea pedis by both the Chinese and foreign guidelines. BB2603 is currently undergoing Phase I/II clinical trials in Germany and plans to conduct Phase III clinical trials in the United States and Europe.
Blueberry Therapeutics, incorporated in November 2011, is a drug discovery and development company focused on developing innovative nanomedicines for difficult to treat skin and nail infections. The company is using its state of the art nano-formulation technology to develop high value medicines where a reduced dose and improved drug delivery is needed, to overcome existing tolerability and safety profile concerns.
This cooperation will further enrich the Group’s patented innovative pipeline products and the Group believes that the Products will have broad market prospects after being commercialized in the Territory.