1970-01-01 08:33:27
China's military medical academy announced on Friday that it would licence a British company to use the patent of its new anti-dementia drug based on Traditional Chinese Medicine (TCM), opening up a new avenue to the international market for TCM products.
After ten years of efforts, a group led by Ma Baiping of the Academy of Military Medical Sciences (AMMS) of the People's Liberation Army has finished pre-clinical research for its new anti-dementia drug, dubbed NJS, which is derived from TCM substances.
Under the deal, the academy will sell the patent licence to U.K.-based Phytopharm plc, disclose key NJS technologies, and rely on the pharmaceutical firm to do clinical trials and promote the product in the international market.
"This is the first time China has sold a TCM patent licence to a foreign firm and represents a major stride towards international credibility," said AMMS president Sun Jianzhong.
The deal gives controversial Traditional Chinese Medicine a better chance of penetrating the international market, he added.
Dementia is a condition characterized by a progressive decline of mental abilities -- including loss of memory -- accompanied by changes in personality and behavior. Alzheimer's disease is the most common form of dementia.
With ageing populations swelling worldwide, the potential for a holistic new dementia treatment is enormous.
Phytopharm CEO Dr. Daryl Rees said western countries have some negative perceptions of TCM.
Linking up with an overseas company that can carry out clinical research and market promotion will help boost the credibility of TCM in the international market, Rees said.
Pre-clinical results were very "exciting", he said, and he had an optimistic forecast for the new drug.
When it began laboratory research, AMMS patented NJS both in China and in its potential markets such as Europe, Japan, Korea and the United States.
"China's TCM manufacturers are now more aware of patent protection," Sun said.
Both sides declined to disclose the value of the deal.
(Xinhua)