Contract Signing with Pharmacore for the Contract Manufacturing of OBI-858

Announcement on Change of the Acting Spokesperson
August 11, 2017
USPTO Approved the Patent Application for OBI-888 “Antibodies, pharmaceutical compositions and uses thereof”
October 6, 2017
  1. Date of occurrence: September 25, 2017
  2. Contract or the other party to the contract: PharmaCore Biotech Co., Ltd
  3. Relationship to the Company (please enter ”head office” or ”affiliated company”): None
  4. Contract effective date (or termination date): Contract expires five years from the initial effective date.
  5. Summary: Pharmacore to build a customized production line for OBI-858 botulinum toxin for Phase I and II clinical trial supply, as well as Phase III and XX after drug approval. Pharmacore estimated that the production line will be ready in 8 month; production of clinical trial supply will be ready within a year.
  6. Limitation: The contract includes a memorandum that specifies the trade secret confidentiality and OBI’s exclusive right to use the production line.
  7. Effect on company operations: Compare to building an in-house production line, the contract is cost effective in ways of time and manpower needs.
  8. Objectives: To accelerate the development of OBI-858 and increase product value.
  9. Any other matters that need to be specified: None.