TAIPEI, Taiwan, Dec. 6, 2010 /PRNewswire/ -- Taiwan Liposome Company (TLC) announced today the signing of a collaboration agreement with Ildong Pharmaceutical, one of the top ten pharmaceutical companies in Korea, for the marketing, distribution and sale of ProFlow®, the super generic drug developed by TLC.
"The collaboration with a well-established company such as Ildong is certainly very exciting for us," said Dr. Hong, Chairman and CEO of TLC. "We are very much looking forward to having ProFlow® distributed by such an experienced partner in Korea." George Yeh, President of TLC, further commented, "Now we have extremely strong partners in Japan and Korea for the distribution of ProFlow®, we're most confident in the future outlook of the product and its positive reflection on TLC."
ProFlow® is an improved Prostaglandin E1 emulsion with extended shelf stability of more than two years, developed by TLC with its proprietary formulation, patented worldwide. ProFlow® is used for treating Peripheral Arterial Disease (PAD), diabetic neuropathy and ulcers, with a global market potential of US$500 million.
"We realize the market potential and the product advantage due to its improved technology, thus expect that ProFlow will make a market share of at least 30% in the Korean market," said Yeongwook Kim, B&D Director, Ildong Pharmaceuticals.
"We are delighted on the progress that the Taiwan Liposome Company, one of our portfolio companies, is making," said Dr. Ann Hanham, Managing Director, Burrill & Company. "Ildong Pharmaceutical has a strong presence in Korea and they are an ideal partner to promote and sell ProFlow® to their expanding customer base."
ProFlow® has also been licensed out in Japan territory to the largest hospital pharmacy chain, Nihon Chouzai, expecting to gain 30% - 40% of the US$300 million market.
ProFlow® is an improved Prostaglandin E1 emulsion. Prostaglandin E1 (PGE1), also known as Alprostadil, is an arterial vasodilator and platelet-aggregation inhibitor. Emulsion form enables sustain release and target delivery. Our patented formulation and know-how in the process make a significant improvement in preventing PGE1 degradation in emulsions. Stability data shows at least 2 years of shelf stability in comparison to the one year displayed by the currently marketed products, making transportation and storage of the product much easier.
Incorporated in 1997, Taiwan Liposome Company is a biopharmaceutical company engaging in research, development and commercialization of proprietary drug delivery system for improving the treatment of cancer, ophthalmic conditions, and infectious diseases. TLC founded and led by renowned scientist, Dr. Keelung Hong, who has over 30 years of research and development experience in liposomes with over 100 publications. TLC also has a team of researchers, management, production experts, and advisors who are building the company into an organization recognized for its excellence in targeted delivery and rapid advancement of products. TLC currently operates from Headquarter in Taipei (Taiwan), and subsidiary offices in South San Francisco (US) and Leiden (The Netherlands). www.tlcbio.com
About Ildong Pharmaceutical
Since its establishment in 1941 Ildong has put its best efforts on developing and supplying outstanding quality drugs thus contributing to health and happiness of human beings. Maintaining steady sales growth since its founding, Ildong achieved 316.6 billion won in sales last year, positioning in the top 10 pharmaceutical companies ranked by sales in Korea.
Biovita which is Korea's first lactobacillus probiotic product and Aronamin which occupies No. 1 position in Korean multivitamin complex market are long-run brand that represent Ildong. They are loved by customers persistently due to their great efficacy and unique marketing activities. As for ethical drugs, Ildong possesses many market-leading excellent specialty drugs such as gastrointestinal ulcer treatment Curan, cerebral circulatory metabolism improvement Sermion, Antibiotic Flumarin, diabetes treatment Fastic, and etc.
Ildong is in active progress of making inroads into the new market other than drugs. In 2002, Ildong showed the nation's first foam type dressing made with polyurethane on the market gaining a reputation for switching paradigm of treating wounds.
Ildong R&D center is performing various R&D projects. Among these projects, studies targeting resistant bacteria, tumor, Alzheimer disease, obesity, aging, and more are mainly in progress.
For more information: www.ildong.com
SOURCE Taiwan Liposome Company