Biocia & Sam Poong Target – High Volume but Unsatisfied Global Nasal Market
March 15, 2016
Biocia Inc. (Biocia) (www.BIOCIA.com), a privately owned New Jersey-based biotechnology company based in Port Murray, New Jersey announced the execution of a CO-DEVELOPMENT & PROFIT SHARING AGREEMENT with Sam Poong Fine Chem. Co., Ltd. (Sam Poong), a Seoul-based company in South Korea. This alliance is also in collaboration with Richfield Import & Export Trade Co. Ltd. (Richfield) based in Toronto, Canada and the Biocia exclusive international distribution agent, I-MED Pharma Inc. (I-MED), based in Montreal, Canada. The co-development alliance is intended to enable Sam Poong to first commercialize Biocia’s viscoadaptive nasal formulation in South Korea for various medical symptoms and compromised conditions of the nasal cavity including excessive dryness, bleeding, discomfort associated with use of other medications or therapy and use following surgery.
The unique viscoadaptive nasal formulation from Biocia is a proprietary formulation that was innovated during a decade of research and based upon Biocia trade secrets and know how. This Biocia Technology exhibits unprecedented properties which facilitate mucociliary transport clearance of contaminated nasal mucus to maintain health and comfort. The product will be presented in a unique delivery system which addresses the concerns of the international medical community unlike most current nasal delivery systems.
Wes Domareki, MBA, President, Biocia Inc. and Biocia Consulting Group commented: “After developing and successfully test-marketing the first prototype version of the Biocia nasal formulation on a national basis in the United States, we enhanced the original formulation with superior product ingredients and a state-of-the art delivery system. The final development of this Biocia innovation will happen in collaboration with Sam Poong for the purpose of optimizing the future introduction of this promising Biocia Technology in a large but vastly unsatisfied global market.”
Ilan Hofmann, Ph.D., President of I-MED Pharma Inc. and Chairman of the Board of Biocia Inc. commented: “A number of features will define this unique Biocia Technology when it is ready for commercialization including a sterile presentation and enhanced rheological and clinical benefits allowing for fewer required applications needed by the patient to achieve comfort and health”. Hofmann commented: “the product is intended to be also useful following trans-nasal sinus surgery to facilitate uneventful healing and faster recovery of complications due to post-operative adhesions and bleeding”.
Yeoung-Woo Choi, President of Sam Poong Fine Chem. Co., Ltd. commented: “After careful analysis of the market, we believe this Biocia Technology is dramatically superior and unique compared to other common nasal products now being sold on the market. As a global partner with Biocia, Sam Poong intends to complete the final manufacturing validations and other testing needed for submission to regulatory authorities for marketing approval.”
Jonah Tsang, Director of Richfield Import & Export Trade Co. Ltd. commented: “We must also consider other important Asian markets for the purpose of expanding the future penetration of this unique Biocia Technology. Our expectations are high considering the superior features and benefits of Biocia Technology for the nasal indication”.
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