Microbion and Haisco Announce Equity Investment and Development & Commercialization Agreement for MBN-101 in China and Related Territories
Bozeman, MT and Vancouver, BC — Microbion Corporation (“Microbion”) of Bozeman, MT, USA and Microbion Pharma Corp. of Vancouver, BC, Canada, today announced that Microbion has entered into an agreement with Haisco Pharmaceutical Group (“Haisco”) to develop and commercialize its lead clinical stage compound, MBN-101, for wounds in China and related territories. MBN-101 is the first in a new class of products to treat infections by attacking both bacteria and related biofilms. Haisco, a leading pharmaceutical manufacturer in China, will be responsible for development, regulatory, and commercialization costs for MBN-101 in China, and Microbion and Haisco will share profits from the commercialization of MBN-101 in China. Haisco is also making an equity investment in Microbion Corporation at the signing of this agreement.
“We are very pleased to be working with Haisco on developing MBN-101 for China”, said Karim Lalji, Chairman & CEO of Microbion Pharma Corp. “This partnership ensures that MBN-101 will be developed and commercialized in China to benefit patients suffering from infected wounds, including chronic wound infections such as those associated with diabetic foot ulcers. This agreement enables Microbion to continue the development of MBN-101 in North America, Europe and other markets. Microbion welcomes Haisco as a sophisticated and knowledgeable investor and partner.”
“Haisco is excited to have the opportunity to develop and commercialize MBN-101 for chronic wounds in China. China has one of the highest prevalence rates of diabetes in the world and Haisco believes that MBN-101, a first in class, innovative therapy, could make a significant difference in improving the lives of patients,” said Mr. Junmin Wang, Chairman & CEO of Haisco.
About Chronic Wounds
Chronic wounds are wounds which have failed to heal effectively and in a timely manner. Chronic wounds affect approximately six million patients in the United States on an annual basis. The most common risk factors for developing chronic wounds include diabetes, vascular disease, and obesity. Bacterial infection and biofilm are considered one of the main causes of impaired healing in chronic wounds. The most common chronic wound types are diabetic foot ulcers, venous leg ulcers and pressure ulcers. Chronic wounds represent a significant burden to patients, health care professionals and the U.S. health care system, costing an estimated $25 billion dollars annually. There are over 70,000 amputations annually on diabetic patients and 80% of diabetic amputations are preceded by an ulcer. There are over 100,000 hospitalizations in the U.S. annually for diabetic foot ulcers.
About Microbion Corporation
Microbion is a clinical stage biopharmaceutical company. Microbion is developing MBN-101 as the first product in the bismuth-thiol class for the treatment of resistant and difficult to treat infections. MBN-101 has broad spectrum, anti-bacterial efficacy against a broad range of pathogens, including multiple priority pathogens or “superbugs”. In addition to anti-bacterial efficacy, MBN-101 also has the ability to eradicate biofilms. The dual action from this first in class product provides a novel clinical approach to treating infections. Microbion filed an IND in the United States for MBN-101 in 2015. The company initiated its first Phase 2a study in 2016. MBN-101 has been granted Qualified Infectious Disease Product (QIDP) designation by the FDA for orthopedic device-related infections and was also granted Fast Track status for this indication by the FDA in 2015.
About Haisco Pharmaceutical Group
Haisco Pharmaceutical Group, founded in 2000, is a publicly listed company focusing on marketing and sales of internally-developed therapeutic drugs. Haisco is one of the leading companies in China’s pharmaceutical industry. The company’s products are sold to more than 3,000 hospitals throughout China with annual hospital terminal sales of over US $800 million.
Safe Harbor Statement
Certain of the statements made in this press release are forward-looking, such as those, among others, relating to the success of clinical development of MBN-101 and preparation for potential commercialization. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including, but not limited to, risks and uncertainties related to: our ability to enroll patients in our clinical trials at the pace that we project; the size and growth of the potential markets for MBN-101 or any future product candidates and our ability to serve those markets; our ability to obtain and maintain regulatory approval of MBN-101 or any future product candidates; and our expectations regarding the potential safety, efficacy or clinical utility of MBN-101 or any future product candidates. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Microbion Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Karim Lalji, Chairman & CEO
Microbion Pharma Corp.