Aida Pharmaceuticals, Inc. Releases Update On Qiaer Biotechnology Acquisition And Rh-Apo2L
The following are excerpts from the Company's update:
Qiaer Biotechnology recently completed Phase I trials of the genetic cancer treatment drug Rh-Apo2L. Rh-Apo2L is a new drug therapy using a recombinant protein produced by genetic engineering, called human Apo2L which can cause cell apoptosis - cellular death - by triggering points on the receptors in the cells of tumors. Scientists believe that cancer cells may resist or not activate apoptosis, thus continuing to grow and divide uncontrollably creating tumors. Rh-Apo2L was designed to trigger cell apoptosis in tumor cells by targeting two receptors on the surface of cancer cells, while sparing most healthy cells.
Rh-Apo2L was approved for clinical research by the State Food and Drug Administration (SFDA) of China in May 2005. The open-label Phase I study was conducted at the Chinese Academy of Medical Sciences Oncology Hospital beginning in September 2005 through May 2006. The clinical research involved 20 patients with late-stage malignant tumors. The researched tumor types included non-Hodgkin lymphoma, sarcoma, adrenal gland cortical tumors, non- small cell lung cancer, colorectal cancer and parotid gland capsule adenocarcinoma.
The next step in the development of Rh-Apo2L is to conduct Phase II and Phase III trials. The SFDA regulates the oversight and approval of these trials. Aida has applied for and anticipates receiving approval for Phase II and Phase III studies in September 2006 and, pending that approval, expects these trials to conclude by year-end 2007. At the completion of the trials, the Company expects to apply for its Category 'A' drug license and production approval from the SFDA, a process which takes approximately three months, according to the SFDA. Upon receipt of this license, Aida will be able to produce, market and sell Rh-Apo2L. Once all SFDA approvals have been received, Aida plans to commercialize and bring Rh-Apo2L to market in 2008. The drug will be available by prescription only.
Aida estimates the revenues of Rh-Apo2L may reach approximately 600 million RMB (US $75 million) in 2008 if the commercialization is performed as planed. In 2009 and 2010, revenues have the potential to reach 1.2 billion RMB (US $150 million) and 1.8 billion RMB (US $225 million) respectively. Aida estimates the net profit margins may reach 40%.
For more information on Aida Pharmaceuticals' Acquisition of Qiaer Biotechnology, Rh-Apo2L and the Company's growing drug pipeline, please visit: http://www.equityperformancegroup.com/aida_einvestor_kit/QiaerBiotechFAQ.pdf.
About Aida Pharmaceuticals:
Aida Pharmaceuticals is a product-focused pharmaceuticals company engaged in the formulation, clinical testing, registration, manufacture, sales and marketing of advanced pharmaceutical and genetic products in mainland China. The Company's mission is to discover, develop and market meaningful new therapies that improve human health. Aida, in operation since March 1999, is headquartered in Hangzhou, China with manufacturing, distribution and sales points throughout mainland China. Aida is GMP certified in China and ISO9002 certified for quality assurance and ISO14000 certified for ecologically- friendly practices. Aida is now producing and marketing a patented prescription drug in China, etimicin sulfate. It is the first antibiotic developed in China and is regarded as a category "A" drug by the State Food and Drug Administration of China.
Safe Harbor Statement:
Under the Private Securities Litigation Reform Act of 1995:
This press release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on Aida Pharmaceuticals, Inc.'s management's current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to Aida Pharmaceuticals, Inc. as of the date of the press release, and it assumes no obligation to update or alter its forward looking statements whether as a result of new information, future events or otherwise. These forward-looking statements may relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Further information on risks or other factors that could affect Aida Pharmaceuticals, Inc.'s results of operations is detailed in its filings with the United States Securities and Exchange Commission available at http://www.sec.gov.
Source: Aida Pharmaceuticals, Inc.