PROMETHERA Biosciences S.A./N.V. and MediPal Holdings Corporation Enters into Business Alliance Agreement
November 12, 2019 at 01:00 am EST
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Promethera Biosciences SA and MEDIPAL HOLDINGS CORPORATION announced that they have entered into a business alliance agreement. In conjunction with today’s alliance, MEDIPAL has decided to increase its shareholdings in the Promethera Group. Promethera has been developing its lead liver cell-derived technology (HepaStem) in an area of high medical need, primarily for Non-alcoholic steatohepatitis (NASH), Acute-on-chronic liver failure (ACLF) and urea cycle disorder (UCD). Promethera completed the recruitment of 24 patients in its Phase 2a study in Acute-on-chronic liver failure (ACLF) in July 2019. The 3 months follow-up data were presented on 10th November at the AASLD 2019 conference (70thAmerican Association for the Study of the Liver Diseases). In addition, the Phase 2a clinical study in patients with late stage NASH with world’s first cell therapy was initiated in May 2019. MEDIPAL will support Promethera in the commercialization of its products in Japan through the subscription to a private placement of new shares on March 20th, 2019, with the aim to expand the products it handles in the regenerative medicine field going forward. The purpose of this alliance is to further deepen the cooperative relationship between the two companies by providing access to MEDIPAL’s know-how and capabilities in the distribution of cellular medicines at ultra-low temperatures. MEDIPAL will support Promethera's clinical trials and aims to provide a steady supply after its product launch.
MEDIPAL HOLDINGS CORPORATION engages in the wholesale of pharmaceutical products, cosmetics and daily miscellaneous goods. The Company operates in three segments. The Ethical Pharmaceutical Wholesale segment is involved in the wholesale of pharmaceutical products, medical equipment and test reagents, the distribution and planning of specialty drugs, the construction of medical material database and others. The Cosmetics, Daily Product and General Medicine Wholesale segment is engaged in the wholesale of cosmetics, daily miscellaneous goods and general pharmaceuticals. The Veterinary Medicine and Food Processing Raw Materials Wholesale segment is engaged in the wholesale of veterinary products, food additives and food raw materials. The Company is also involved in the provision of cleaning services, the management and operation of logistics centers, the provision of manpower dispatching services and others.
MEDIPAL HOLDINGS CORPORATION 
