ReGen appoints ICUK to assist China developments
17 6월 2010 - 3:00PM
UK Regulatory
TIDMRGT
ReGen appoints ICUK to assist developments in China
17 June 2010
ReGen Therapeutics Plc ('ReGen' or the 'Company') <AIM: RGT> 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(TM) 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
GBP550m 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(TM)
ReGen Therapeutics Plc was formed in February 1998 to develop Colostrinin(TM), a
proline-rich polypeptide complex derived from mammalian colostrum.
Colostrinin(TM) is promoted as a support for healthy brain ageing and
cognition. Peptides derived from Colostrinin(TM) 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(TM) 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(TM) 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(TM) 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 <http://www.regentherapeutics.com/>
[HUG#1424521]
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