TAIPEI, Oct. 11, 2023 /PRNewswire/ -- TaiGen Biopharmaceuticals Holdings Ltd. ("TaiGen") announces that TaiGen Biotechnology, a subsidiary company of TaiGen, have signed an exclusive licensing agreement with Y.S.P. Industries (M) Sdn. Bhd. to develop and commercialize TaiGen's new drug in Malaysia and Singapore.
TaiGen indicates that the agreement involves the development and marketing rights of the new drug in Malaysia and Singapore. Y.S.P. Industries (M) Sdn. Bhd. will be responsible for the New Drug Application (NDA) and market sales within the authorized region. The contract duration starts from the signing date and lasts for 20 years from the initial product sale.
Kuo-Lung Huang, Chairman and Chief Executive Officer of TaiGen, said, "The YSP Group has deep roots in Taiwan, and its subsidiary, Y.S.P. Industries (M) Sdn. Bhd., boasts over 30 years of outstanding experience in pharmaceuticals, drug development, and sales in Malaysia and Singapore. In collaboration with Y.S.P. Industries (M) Sdn Bhd., TaiGen is now expanding into the Southeast Asia market, offering a new selection of medication to meet the local medical needs. This partnership marks another significant milestone for TaiGen in terms of licensing its product overseas."
Both parties, in consideration of the competitiveness of the pharmaceutical market and concerns about proprietary information, currently refrain from disclosing the name of the new drug.
About YSP Industries (M) Sdn. Bhd.
Y.S.P. Industries (M) Sdn. Bhd. is a wholly-owned subsidiary of Malaysia-listed company Y.S.P. Southeast Asia Holding Berhad ("YSPSAH") (Stock code: 7178.KL). With over 30 years of expertise in pharmaceutical manufacturing, development, and marketing, YSPSAH also owns pharmaceutical warehousing and logistics facilities. It boasts a diverse product portfolio of more than 800 items, including prescription drugs, over-the-counter medicines, animal and aquaculture pharmaceuticals, traditional formulations, and medical health-related products. Its market presence spans across Southeast Asia, Africa, and Middle Eastern countries. The company's products are distributed through 120 hospitals, 4,500 clinics, 1,450 pharmacies, and 500 Traditional Chinese medicine clinics.
About TaiGen Biotechnology Co. Ltd.
TaiGen Biotechnology, with a subsidiary in Beijing, China, was founded in 2001 and became listed on the Taiwan OTC Stock Market in 2014. TaiGen is a fully-integrated pharmaceutical company dedicated to the development of innovative small molecule drugs (New Chemical Entity, NCE) with a focus on anti-infective drug research. It has extensive experience in research topic selection, drug discovery, drug development, and regulatory approval. The company possesses the capability to conduct multi-country, multi-center clinical trials and has a track record of overseas licensing. Its flagship product, non-fluorinated quinolone antibiotic Taigexyn® (Nemonoxacin), has obtained marketing approvals in Taiwan, mainland China, and Russia. The influenza antiviral TG-1000 has completed the phase II clinical trial and out-licensed the development and commercialization rights in mainland China.