MICOT PHARMA-B (02335.HK): MT200605 Gets Phase III Ethics Approval

NewTimeSpace News: Shaanxi Micot Pharmaceutical Technology Co., Ltd. (stock code: 02335) announced that it and Beijing Tiantan Hospital, Capital Medical University, are jointly undertaking a research project on MT200605, a key product of the Company, under the National Major Science and Technology Project for Innovative Drug Development, and that it has received the first instalment of central government funding of RMB960,000, with the remainder to be disbursed in stages subject to milestone acceptance.

The Company has also obtained ethics approval from the lead institution, Beijing Tiantan Hospital, for the Phase III clinical trial of MT200605 in patients with acute ischemic stroke, entitled "A Multicentre, Randomised, Double-Blind, Placebo-Controlled Phase III Clinical Study to Confirm the Efficacy and Safety of MT200605 in Patients with Acute Ischemic Stroke" (Protocol No. MT200605-AIS-3041), following positive Phase II results.

Under the project, the Group is responsible for the research, development, manufacture and supply of MT200605 for clinical trials, while Beijing Tiantan Hospital leads the academic design of the protocol, organises the multicentre network and handles data collection and statistical analysis. The Company cautioned that drug development involves substantial risks and that successful development and commercialisation of MT200605 is not assured.