TAIPEI, March 7, 2022 /PRNewswire/ -- HCmed Innovations, Co., Ltd. (HCmed) announced that it has formed a strategic alliance with Formosa Laboratories, Inc. (TPEx: 4746) and Formosa Pharmaceuticals, Inc. (TPEx: 6838) to expand its business in the inhalation treatment field, providing contract development and manufacturing services. By integrating HCmed's vibrating mesh nebulizers, Formosa Laboratories' drug development and manufacturing capabilities, and Formosa Pharmaceuticals' APNT nanotechnology platform, the three parties are expected to become a one-stop shop in the biopharmaceutical industry as a full-service contract development and manufacturing organization (CDMO).
According to statistics, the global inhalation drug market reached 25 billion US dollars in 2020. Moreover, as the COVID-19 pandemic has driven demand for respiratory treatment drugs during the past two years, the demand for developing respiratory drugs has also grown stronger, prompting several well-known global pharmaceutical companies to take the initiative to incorporate HCmed's proprietary mesh technology into the development of their inhaled products. Jason Cheng, CEO of HCmed, said, "Currently, global CDMO companies that focus on developing drug-device combination products cannot only provide their Pharma partners with a platform to deliver drugs, but also with integrated services that extend to drug development, mass production, and product packaging. Through these services, the combination product development time can be shortened, and costs can be reduced. With this objective, HCmed, Formosa Laboratories, and Formosa Pharmaceuticals aim to provide a fully integrated CDMO service platform, which is expected to further expand the companies' business, providing fully-integrated solutions and creating long-term win-win relationships."
The companies share similar visions on the development of their CDMO business. The collaboration between the parties signifies the joining of forces between three key players in the biotechnology and high-end medical device industries in the respiratory drug market. With Formosa Pharmaceuticals' nanotechnology platform, Formosa Laboratories' development and production experience of APIs, ADCs, and injections, and HCmed's technology in developing customized mesh nebulizers, the parties aspire to provide an all-round service across the full development process, including early drug development, clinical trials execution, mass production, and product launch. This collaboration is expected to increase the number of CDMO orders, deepen customer relationships, and contribute to revenue increase.
SOURCE HCmed Innovations Co., Ltd.