Hong Kong Biotech Company Reaches Important R&D Milestones

Comprehensive Drug Enterprises Limited (CDE) announced today that Propranolol Sublingual, a compound the company fully licensed from the Drug Development Centre of the Chinese University of Hong Kong (CUHK) and further developed, had completed the pivotal clinical study at Prince of Wales Hospital in Sha Tin. In early 2007, CDE had received an Institutional Review Board approval from CUHK and a clinical certificate from the Department of Health of Hong Kong to begin its human study. Propranolol Sublingual is a drug candidate indicated to manage anxiety tachycardia and essential tremor. This new product is intended to provide convenient and rapid onset of drug action and is better than any currently available drugs for such use.

The company is developing a number of key niche products aimed towards achieving rapid onset of drug action for acute medical conditions. Besides Propranolol Sublingual, the company is developing intranasal drugs for the treatment of motion sickness. This anti-motion sickness project recently has completed the Phase I of the Small Entrepreneur Research Assistant Program, and is utilizing a government grant that supports the pre-venture capital stage of technology start-ups.

"We are passionate about the discovery, development, and innovation of unique technologies, particularly the transmucosal drug delivery technology, which is in demand by patients to manage medical conditions quickly and effectively," said Dr. Benjamin Lee, Managing Partner of CDE. "The company focuses its research primarily on drugs with demonstrated safety and efficacy. Through CDE proprietary drug delivery technology, it can provide rapid and enhanced effect for drug delivery." Professor Moses Chow, Chairman of R&D Committee and Member of Executive Board of CDE, says, "I am pleased to see that CDE, through its technology know how, is moving forward with further development of the Propranolol Sublingual preparation which was initially investigated by the Drug Development Centre of CUHK. With successful clinical trial to be completed later on, it can satisfy the pivotal requirement for new product registration and can represent a truly important milestone for Hong Kong's biotech industry."

With a maturing technology platform, CDE is actively seeking funding opportunities and potential partners for future products and international market development. "Our goal is to build a sustainable and profitable company with a proprietary and practical drug delivery technology," said Dr. Bernard Chan, Director & Partner of CDE. "Competition in the pharmaceutical marketplace is fierce. Our technology differentiates our products from existing pharmaceuticals, making new indications possible while providing proprietary protection, thereby reducing competition and maximizing revenues."

CDE was founded by a group of dedicated scientists and professionals from various disciplines associated with corporate financing, business development, marketing and sales, technology, and business management. CDE is also affiliated with a renowned advisory board consisting of researchers from leading universities and pharmaceutical industry. As a result of the company's innovation and entrepreneurship, CDE has received several government research grants and funding supports including the Technology Entrepreneur Fund. In addition, CDE has been admitted as a member company of the Incu-Tech Program of Hong Kong Science and Technology Parks Corporation (HKSTP) which offers operational support and financial assistance.

About the Company:

Comprehensive Drug Enterprises Limited (CDE) is a specialty biotechnology pharmaceutical company with a focus on developing transmucosal drug delivery, particularly for sublingual and nasal administration of pharmaceuticals. The company is initially focusing its research on drugs with demonstrated safety and efficacy. By applying our proprietary formulation technology, a broad range of new and differentiated products can become a reality which will enable patients, caregivers and healthcare professionals to take control of treating diseases and conditions with convenience of rapid action while maintaining efficacy and safety.