Catalist-listed Singapore Institute of Advanced Medicine Holdings (SAM Holdings) has entered into a strategic partnership with Australia-based biopharmaceutical company EnGeneIC.
Under the partnership, SAM Holdings will collaborate with EnGeneIC on a profit-sharing basis for manufacturing and distribution of anti-cancer products based on the latter’s proprietary technology platform, EnGeneIC Dream Vector (EDV). The partnership will also involve the development of EDV-based theranostics for use in the imaging and treatment of various cancers.
Among others, SAM Holdings will help EnGeneIC secure funding and regulatory authorisations for building a manufacturing plant in Singapore to manufacture EDV-based products and conduct clinical trials in the city-state. In turn, SAM Holdings will be granted exclusive distribution and marketing rights of these products in 17 countries within Asia.
SAM Holdings will also collaborate with EnGeneIC for pre-clinical testing of EDV-based theranostics as well as obtain the regulatory approval for its commercialisation and sale. Subsequently, the company will be granted exclusive distribution rights worldwide for EDV-based theranostics.
“We have always been committed to providing our patients with easier access to the latest cancer treatment technologies and our partnership with EnGeneIC is another step forward in that direction,” says SAM Holdings executive director, CEO and founder Dr Djeng Shih Kien.
Shares in SAM Holdings closed 0.8 cents lower or 6.78% down on June 10 at 11 cents.
See also: UOB signs MOU with Shanghai Gold Exchange to connect China’s gold supply chain to Asean markets
