Oneness Biotech to merge with Fountain Biopharma for enhancing competitiveness in global market
Merge is continuing in the biotech industry! Oneness Biotech (4743) and Fountain Biopharma (4159), two subsidiaries of Microbio Group, announced the merger on the 7th Mar, 2019. The announcement is out of market’s expectation with that Oneness will obtain marketing authorization of ON101 from Taiwan or licensing to mainland China, and it is expected to impact the stock price on the 8th Mar, 2019. However, the institutional investors believe that the companies will has more bargaining chips for licensing and compete for the global market hand in hand after expanding the new drug platform and products.
Oneness is specializing in the development of new botanical drug. Oneness had submitted NDA application to TFDA, Taiwan for ON101 which is indicated for the treatment of diabetic foot chronic wound ulcer (DFU), meanwhile Oneness had implemented the Phase III multi-regional clinical studies in China and the United States, respectively. Oneness will submitted a Phase III clinical study application to EMA in the second quarter of this year.
Fountain Biopharma is committed to the development of new therapeutic monoclonal antibodies and DNA aptamers. It has its own fully human antibody library. The Phase I clinical trials in the US FDA and the exploratory Phase II clinical study for atopic dermatitis in Taiwan had been completed for anti-CεmX anti-allergy antibody (FB825). The Phase II clinical studies for allergic asthma with high IgE syndrome and atopic dermatitis were also approved to be conducted by the United States and Taiwan, respectively.
William Lu, chairman of Microbio Group, said that the merger will make the R&D team more complete. The company not only has new drugs that are closer to obtain the marketing authorization, but also has short-, medium- and long-term development of autoimmune and anti-cancer new drug pipelines, and key technology platforms.
News translated from Commercial Times