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Oneness was notified today that Bonvadis, the wound care topical cream has submitted a registration application to the Drug Regulatory Authority of Pakistan (DRAP). |
- Product:Bonvadis topical cream for wound care
- Mass production date:NA
- Effect on company finances and business:
(1)New drug name or code:Bonvadis
(2)Purpose:Wound Dressing
(3)Planned development stages：NA
(4)Current development stage:
A.File application/approved/disapproved/Each of clinical trials (include interim analysis):Regulatory Agent in Pakistan has notified Oneness today that Bonvadis topical cream for wound care has submitted a registration application to the Drug Regulatory Authority of Pakistan (DRAP).
B.Once disapproved by competent authority or each of clinical trials (include interim analysis) results less than statistically significant sense, the risks and the associated measures the Company may occur:NA
C.After obtaining official approval or the results (include interim analysis) which are statistically significant, the future strategy:NA
D.Accumulated investment expenditure incurred:No disclosure in considerations of future marketing strategies.
(5)Upcoming development plan:Extensions of indications will be applied.
A.Scheduled completion date:The review timeline is subject to the review process regulated by competent authorities in each country.
B.Estimate responsibilities:Oneness shall pay the licensor sales royalties according to the licensing contract once the product is put onto the market.
(6)Market:The population of Pakistan ranks sixth in the world, and it is also one of the fastest-growing economies among developing countries. The country relies heavily on the import of medical products, with imports accounting for 94% of the total market. According to the International Diabetes Federation (IDF) statistics, the prevalence of diabetes in Pakistan is 26.7%, making it the country with the highest diabetes prevalence in the world. Literature also indicates that the prevalence of Diabetic Foot Ulcers (DFU) is in the double digits, highlighting the significant potential in the DFU medical device market.
- Any other matters that need to be specified(the information disclosure also meets the requirements of Article 7, subparagraph 8 of the Securities and Exchange Act Enforcement Rules, which brings forth a significant impact on shareholders rights or the price of the securities on public companies.):
(1)Oneness implements dual strategies of both medicine products and medical devices for development and marketing of our wound care products. Each type of product will comply with corresponding regulatory requirements to get quick access of the markets. New drug Fespixon Cream has been approved with medicine licenses for Taiwan, Singapore, Malaysia markets, as well as under the process of pre-market reviews or preparation of submissions for other countries. Bonvadis as a medical device for wound management has been granted with market approvals for the US, India, and New Zealand, and for scar management in European Union. The subsequent market access plan with medical device submissions in other countries are ongoing.
(2)According to Guidelines by Taipei Exchange on the Material Information Announced by Listed and OTC Companies, new drug development companies shall make public announcement when filing application for clinical trials to domestic or overseas regulatory authorities, receiving approval or disapproval, obtaining the statistical date of endpoints in each clinical trial (including interim analysis), or receiving approval or disapproval on drug license application.
(3)It takes considerable time and expenses to develop a new drug of which success can't be guaranteed. Investors shall bear such investment risk that warrants careful assessment before making investment decisions.
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