17/06/2010
ReGen Therapeutics Plc (‘ReGen’ or the ‘Company’) has appointed Innovation China UK (‘ICUK’) to assist in discussions with a major pharmaceutical company in China, which the Company hopes will lead to the establishment of ReGen’s business in this growing and important healthcare market. ICUK is a publicly funded programme established to support joint innovation and technology transfer between the UK and China.
ReGen was assisted by the Chinese team at its broker Alexander David Securities with initial contacts in the Chinese market. It was apparent from these contacts that ReGen required the assistance of a well-respected and strong advisor, based both in the UK and China, to take our Chinese project further. ICUK fitted these criteria, having previously used its expertise to open initial discussions with a major Chinese pharmaceutical company, which then led to a confidentiality agreement being signed between the company and ReGen. We have now formally engaged ICUK to work actively on our behalf to assist with detailed negotiations e.g. preparing a presentation in Chinese and going to China to talk to relevant personnel in the target company. ReGen believes that ICUK will be crucial in bringing the deal to fruition in this major market.
Manyi Cristofoil – Executive Director of ICUK commented:
‘We are excited about the opportunity to assist ReGen to develop a Chinese market for its products. With over 23 per cent of Chinese people expected to be over the age of 65 by 2020 and with their ability to purchase clinically-proven nutritional supplements steadily increasing, Colostrinin™ will have a potentially significant market in China when ReGen secures its distribution through an established local partner.’
Through its wide networks in China, ICUK offers consultancy services to both UK and Chinese companies and research organisations on cross boundary knowledge transfer, business partnering and technology commercialisation. This consultancy service will be provided to ReGen Therapeutics Plc by the ICUK programme office at Queen Mary Innovation Limited, a technology transfer company wholly owned by Queen Mary, University of London.
For further information, please contact:
Percy Lomax
ReGen Therapeutics Plc
Tel: 020 7153 4920
Roland Cornish/Felicity Geidt
Beaumont Cornish Limited
Tel: 020 7628 3396
David Scott/Nick Bealer
Alexander David Securities Limited
Tel: 020 7448 9820
Note to Editors:
The Chinese healthcare market
AstraZeneca, the second largest British drug company, had sales in China of £550m last year and believes the market is growing at 30% per annum. China has just announced a healthcare reform package and is putting $125bn into healthcare. The combined impact of China’s population, economic growth and development of healthcare makes this one of the top three target markets for ReGen.
About ReGen and Colostrinin™
ReGen Therapeutics Plc was formed in February 1998 to develop Colostrinin™, a proline-rich polypeptide complex derived from mammalian colostrum. Colostrinin™ is promoted as a support for healthy brain ageing and cognition. Peptides derived from Colostrinin™ are viewed as having potential in the treatment of neurodegenerative illnesses such as Alzheimer’s disease, Parkinson’s Disease, Multiple Sclerosis and Amyotrophic Lateral Sclerosis.
The Company is rolling out Colostrinin™ as a nutraceutical product in a growing number of countries worldwide. Since 2006, the Company has signed deals with several independent distributors to commercialise Colostrinin™ under various brand names. The product has been available in North America and Australasia since 2007, in Cyprus and in Poland and the United Kingdom since 2009. So far in 2010, Colostrinin™ is being launched in Turkey and India. ReGen continues to negotiate arrangements for other regions and further details of each of the distributors can be found in the Products & Research section of the ReGen website – www.regentherapeutics.com