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NeuroAid(TM) is a natural medicine developed in China. Clinical trialshave shown that patients taking NeuroAid(TM) within six months from a strokeachieve better neurological and functional recovery. This product is alreadylisted in 7 countries and is available worldwide through IDIS Pharmaceuticals.NeuroAid(TM) has reached patients in 25 countries and is expected to benefitabout 10,000 patients in 2008.
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Moleac will also use the investments to fund international clinical trialsthat demonstrate the efficacy of NeuroAid(TM) during the acute stage of stroke.Currently, Moleac is supporting the CHIMES society which implements a multi-centre clinical trial with 1,100 patients, called the CHIMES trial. This isthe largest clinical trial on stroke recovery. It is also the first time anyTraditional Chinese Medicine product has been assessed on such a wide scaleoutside China. This study chaired by Professor Bousser (Paris) and led andimplemented by Professor Chris Chen in Asia is looking at the efficacy ofNeuroAidTM in improving independence in patients, with treatment startingwithin 48 hours of a stroke. The clinical trial is currently being implementedin several leading centres in Singapore and the Philippines.
"Demonstrating the benefits of NeuroAid(TM), when administered at theacute stage of a stroke, to the global market will enable it to become asystematic treatment modality. This is important, as there are currently noother drugs available to stroke patients, to help them during their recovery,"said David Picard, CEO/ co-founder Moleac. "We are targeting to hit revenuesof US$30 million within the next 3 years, which will be mainly driven byNeuroAid(TM)."
In addition to NeuroAid(TM), Moleac has a pipeline of 12 other products.The company plans to market its second product, a smoking cessation medicaldevice, in 2009.
About Moleac
Moleac is a Singapore biopharmaceutical company that identifies promisingmedicines and develops them for broad distribution. Focusing on patients'greatest needs and specific unmet medical needs, Moleac drives research,development and registration for a pipeline of drugs and devices in variousstages of development.
About Hunza Ventures
Hunza Ventures is the venture capital arm of a privately held group ofcompanies. Hunza Ventures focuses its investments on the biotech,pharmaceutical, Medtech and high-tech industries. It invests in companies withgreat potential for value creation and applies its business experience,knowledge and networks to make them best-in-class.
DISCLOSURE NOTICE: The information contained in this release is as of 3April 2008. Moleac assumes no obligation to update any forward-lookingstatements contained in this release as the result of new information orfuture events or developments.Contact: Chan Yiu Lin Mobile: +65-9-7655897 Email: [email protected]
SOURCE Moleac
