Regent Pacific Group Limited Announces the Successful Launch of Fortacin(TM) in Hong Kong, Upcoming Launches in Taiwan and Macau and Related Business Updates
HONG KONG, Jan. 18, 2021 /PRNewswire/ -- *Regent Pacific Group Limited ("Regent Pacific" or the "Company" and together with its subsidiaries, the "Group";* stock code: 0575.HK), a specialist healthcare, wellness and life sciences investment group is pleased to announce that Fortacin™, the Group's prescription treatment for PE, went on sale in Hong Kong this January and will launch in Macau in March and Taiwan (its home market) in April 2021. These launches are being handled by Orient EuroPharma Co. Ltd. ("OEP"), the Group's strategic partner for Taiwan, Hong Kong SAR, Macau SAR and several other Asian countries. The Group will generate a low teens royalty from OEP's net sales of Fortacin™ in these markets.
*Updates for other Asian markets*
In mainland China, Wanbang Biopharmaceutical Group Co., Ltd, the Company's strategic partner there, has appointed a leading contract research organization to conduct a phase III randomized local clinical trial (RCT) for Fortacin™ / Senstend™. This RCT will commence in April / May 2021, subject to approval from the National Medical Products Administration.
In Japan, the Group is excited to announce that it is in early talks with a potential partner for "out licensing" the rights to Fortacin™. The exact timing and licencing agreement(s) terms are still under discussion.
*Jamie Gibson, CEO of Regent Pacific*, said, "The launch of Fortacin™ in Hong Kong, our home market, has been a pivotal moment for the Group in realizing our strategic goals. The upcoming roll-outs of Fortacin™ in other Asian countries will further strengthen Regent Pacific as a leader in PE treatment in Asia and help us achieve wide regional coverage.
"For mainland China, we are pleased at the initial progress. It is noteworthy that upon receiving approval from the National Medical Products Administration ("NMPA") to commence a RCT, Regent Pacific is set to receive a US$3.2 million payment (approximately HK$24.96 million) from Wanbang Pharmaceutical as previously announced. With these promising early successes in Asia, Regent Pacific is poised to capture significant market share in PE treatments around the world in the coming years."
*About Regent Pacific (**Stock code: 0575.HK)*
Regent Pacific is a diversified investment group based in Hong Kong currently holding various corporate and strategic investments focusing on the healthcare, wellness and life sciences sectors. The Group has a strong track record of investments and has returned approximately US$298 million to shareholders in the 23 years of financial reporting since its initial public offering in May 1997.
*About Fortacin™ *
Fortacin™ is the first solution to PE that does not act on the central nervous system and offers bona fide therapeutic efficacy that has been validated through extensive clinical trials in Europe, with over 23,500 doses delivered to trial participants. The solution is a topical spray containing low doses of lidocaine and prilocaine that take effect almost immediately upon application, giving users more control without reducing pleasure. Fully approved by the European Medicines Agency (EMA), Fortacin™ is now available in France, Germany, Italy, Portugal, Spain and the UK.