November 15, 2001

Phytoheath Corporation has successfully developed the first Investigational New Drug (IND) in Taiwan derived from plants for the purpose of dealing with hematopoiesis. The drug, named PG2, has entered the clinical trial stage and its market launch is expected in 2004.

Phytoheath Corporation, invested by Maywufa Conglomerate, was established in November 1998. It is the first Taiwan biotech company involved in researching and developing new drugs that has been able to obtain a recommendation letter from the Industrial Development Bureau under the Ministry of Economic Affairs. The company applied to go public on the OTC (Over the Counter) market on September 28 of this year.

At the moment, Phytoheath is developing five major product lines for its new drugs, namely PG2 to help fight cancer, Guanoplatin, a drug that has fewer side effects in the treatment of cancer, Arecoline TDS for Alzheimer's disease, a new anti-aging herbal drug, and non-sedating drugs for car-sickness.

PG2 is a significant breakthrough as it is the only drug that is capable of fighting cancer in all aspects. It enables the body to increase the amount of blood platelets, the white and red blood cells inside a patient's body after chemical or radiation treatment, while at the same time reducing the side effects caused by chemical and radiation treatment and boosting the immune system.

In April 2001 PG2 was licensed by China's SDA for sale in the Chinese market. The company additionally expects to obtain a license from the American FDA so that it can launch the drug in the US market in 2004. By then, the drug is predicted to have a total market value of US$500 million.

(back to top)