29 Dec. 2016
Mycenax Licensed OEP the right to market TuNEX in Southeast Asia
Yesterday (Dec. 28th, 2016) Mycenax Biotech Inc. ("Mycenax") and Orient Europharma Co., Ltd. ("OEP") entered the Drug Distribution Agreement, to explore the Southeast Asian ("SEA") market for TuNEX.
Karen Wen, President of Mycenax, said that Mycenax developed and manufactured TuNEX, the biopharmaceutical to be indicated for rheumatoid arthritis. Now all the registration-required clinical studies and data for TuNEX are in place, and under the review by Taiwan authority: TFDA. Biopharmaceuticals, such as TuNEX, are difficult to be developed and manufactured, expensive, caused the healthcare expenditure soaring, and hence limited the access by patients. Considering the high demand for the biopharmaceuticals, Mycenax has been actively strategizing for TuNEX's entry into overseas regional market stepwise, since Mycenax licensed TSH Biopharm Corporation Ltd. to market the same product in Taiwan.
OEP is not only a well-known pharmaceutical company in Taiwan, but also an active player in SEA, no matter from the perspective of clinical trial, regulatory affair, logistics or marketing. TuNEX will be an important biopharmaceutical in OEP's portfolio. Correspondingly, OEP will also be the first and significant partner leading TuNEX into international market. Both parties expected that Mycenax's profession on development/biomanufacturing and OEP's strength in pharmaceutical marketing will advantage themselves. Through the synergy exerted by Mycenax and OEP, TuNEX will hit the SEA market (except Indonesia) in 2 to 3 years, and further benefit the local community.
Introducing new products and expanding overseas market has always been OEP’s key strategy. Mycenax exclusively out-licensed the first Taiwan-made biopharmaceutical to OEP, to jointly enter the market in Philippines, Vietnam, Malaysia, Thailand, Singapore, Mynmar, Brunei, Cambodia, and Laos. This is an important milestone that two of the top Taiwanese biopharmaceutical companies jointly enter the SEA market. We expect this is not only to echo the “New Southern Policy” of the government but also to drive the growth of Taiwan biotech industry through SEA market. In the future, with OEP’s competency in regulation, sales and marketing, and channels, we hope to introduce more new pharmaceutical products to SEA market, to bring more treatment options to the local patients, and to establish a successful and prosperous model of “New Southern Policy”, said Peter Tsai, Chairman of OEP.
