Due to the tense situation of Novel Coronavirus Disease (COVID-19), company decided to pause the recruitment of Global Phase III clinical study for 3 months and will restart recruitment when epidemic gets controlled.April 6, 2020
Supplementary statement for 2020 Shareholders’ Meeting (Change in location and new items)May 8, 2020
- Date of occurrence of the event: Apr 10, 2020
- Company name: OBI Pharma Inc.
- Relationship to the Company (please enter “head office” or “subsidiaries”): Head Office
- Reciprocal shareholding ratios: No applicable
- Cause of occurrence: The active cancer immunotherapy OBI-822, Adagloxad Simolenin, has been granted by Ministry of Food and Drug Safety of South Korea to proceed Phase III human clinical study.
- Countermeasures: None
- Any other matters that need to be specified:
(1) Name of the new drug: active cancer immunotherapy OBI-822 (Adagloxad Simolenin)
(2) Uses: OBI-822 is a therapeutic cancer vaccine classified as active cancer immunotherapy. Globo H-KLH conjugate triggers immune response against hard-to-treat cancers once injected into the human system.
(3) Planned development: Phase III clinical study, new drug registration approval
(4) Ongoing development:
A. Filed application/ Granted/ Denied: Granted
B. Risk and countermeasures for denied applications: Not applicable
C. Outlook for granted applications: Phase III human clinical trial in progress
D. Total invested capital: To be kept confidential to avoid complications in future negotiation of licensing deals, and as for the best interest of shareholders.
(5) Next phase of development:
A. expected to evaluate primary endpoint in 2025, the actual schedule will be adjusted according to the timeline.
B. Expected obligation: Phase III clinical trial has already started. Milestone royalty of US$1,000,000 to Optimer will be initiated.
(6) Current market: According to public research report of IQVIA, the global market for anti-tumor drugs is about US$150 billion in 2018, the largest among the top 10 categories. OBI-822 is still in clinical development; its indications will be evaluated based on unmet medical needs, product opportunities, and company portfolio.
(7) New drug development is a long process associated with high costs. It is not a guaranteed success, which may increase the risk of investment. Investors shall make prudent judgments and investments.