BRIM Biotechnology, Inc.has entered OTC (over the counter) trading in Taiwan.
Established in July 2013, BRIM is a clinical-stage company developing novel regenerative therapies to help combat and cure ophthalmology and degenerative joint diseases.
The company’s current paid-in capital is approximately $23 million.
BRIM has several novel drug products in its pipeline, all underpinned by the company’s stem cell regenerative pigment epithelium-derived factor (PEDF) derived short peptide (PDSP) technology platform.
BRIM said its lead candidate, BRM421, has the potential to be a first-in-class peptide treatment for dry eye syndrome (DES).
Phase II/III clinical trials completed in the U.S. showed the drug has the potential to speed up the repair of corneal damage through stimulation of corneal stem cell proliferation and differentiation, as well as to treat disease symptoms. Data demonstrate that BRM421 is safe and well-tolerated with a unique early onset curative effect.
In seven years, BRIM has progressed BRM421 from pre-clinical to late-stage clinical trials and has successfully licensed the commercial rights in greater China (China, Hong Kong, and Macau) to Grand Pharma (China) Co., Ltd.
Chairwoman and CEO Haishan Jang said: “Our goal is restoration and repair of the damage caused by DES. The PDSP technology platform underpinning BRM421 and other assets in our pipeline could revolutionize the ophthalmology and degenerative joint disease fields. If successful, BRM421 could treat millions of people around the world living with DES and provide an excellent example of a first-in-class new drug developed in Asia. OTC trading brings us one step closer to achieving our vision to bring sustainable and affordable healthcare innovation to the world.”
About dry eye syndrome
DES is a common yet complex chronic disease. According to Global Data (2020), the DES market size in 2018 was approximately $3.9 billion across nine markets (U.S., France, Germany, Italy, Spain, UK, Japan, China, and India). This market is expected to grow in scale and size due to heavy screen-time usage, greater use of contact lenses and increasing numbers of eye surgeries.
Symptoms can include a feeling of having something in the eye, a stinging or burning sensation, red eyes, sensitivity to light, and blurred vision.
Research also suggests that COVID-19 increases the risk of developing DES.
Currently, treatment options for DES are limited and most treat the symptoms rather than the disease. Existing treatments include anti-inflammatories or artificial tears and lubricants, none of which repair the damage caused by DES.
Peptides shorter than 40 amino acids, such as BRM421, are categorized as small molecules, meaning they follow the New Drug Application (NDA) regulatory pathway rather than the Biologics License Application (BLA) pathway. This significantly reduces development time and costs, making novel peptides an attractive new treatment option for many pharmaceutical companies.
Beyond BRM421, BRIM’s PDSP technology platform can be applied across multiple therapy areas and indications. Early research indicates that the PDSP technology platform demonstrates efficacy in corneal wound healing, diabetic ulcer wound healing, osteoarthritis, androgenic alopecia, and muscle/tendon regeneration. BRIM has a pipeline that includes treatments for severe corneal damage (BRM423), and osteoarthritis (BRM521).
“With this next step of OTC trading, we are excited to progress development at an accelerated pace and will continue our journey in ophthalmology to bring the first regenerative peptide therapy for DES to the market in the near future, as well as apply our learnings to a wide range of other diseases with significantly unmet needs,” Jang said.
Cover image: Shutterstock