MENGKE PHARMACEUTICAL ANNOUNCED ON THE EVENING OF OCTOBER 25 THAT DR.
EDWARD JOW FANG, THE COMPANY'S CORE TECHNICAL PERSONNEL, RECENTLY APPLIED TO THE COMPANY TO RESIGN AS SENIOR VICE PRESIDENT OF MICURx Pharmaceuticals, Inc.
, a subsidiary of mengke pharmaceuticals in the united states, due to personal reasons and has completed the resignation procedures
.
HOWEVER, THE COMPANY STILL HAS ARRANGEMENTS FOR DR.
EDWARD JOW FANG AFTER HIS DEPARTURE, WHO WILL SERVE AS A CONSULTANT TO THE COMPANY IN CARRYING OUT CLINICAL RESEARCH PROJECTS
IN THE UNITED STATES.
IT IS UNDERSTOOD THAT DR.
EDWARD JOW FANG JOINED MENGKE PHARMACEUTICAL IN 2017, AND BEFORE LEAVING HIS JOB, HE SERVED AS SENIOR VICE PRESIDENT OF MENGKE USA, AND WAS THE COMPANY'S CORE TECHNICAL PERSONNEL, MAINLY RESPONSIBLE FOR CARRYING OUT CLINICAL RESEARCH IN THE UNITED STATES
.
Dr.
EDWARD JOW FANG held 593,390 options
prior to his departure from MicuRx Pharmaceuticals, Inc.
, a limited liability company incorporated in the Cayman Islands and an indirect shareholder of MicuRx Pharmaceuticals, Inc.
DURING HIS TENURE AT THE COMPANY, DR.
EDWARD JOW FANG WAS THE COMPANY'S U.
S.
CLINICAL LEAD, RESPONSIBLE FOR CLINICAL RESEARCH IN THE UNITED STATES, LEADING THE CLINICAL IMPLEMENTATION OF CONTIZOLID AND OTHER PIPELINE PRODUCTS IN THE U.
S.
, INCLUDING THE DESIGN OF CLINICAL TRIAL PROTOCOLS AND CLINICAL TRIAL OPERATIONS
.
In the pharmaceutical industry, the departure of core technical personnel may have a certain impact
on the company.
AFTER THIS CHANGE, THE CORE TECHNICAL PERSONNEL OF MENGKE PHARMACEUTICAL HAVE CHANGED FROM 6 TO 5, AND THE CORE TECHNICAL PERSONNEL AFTER THE CHANGE INCLUDE ZHENGYUYUAN (YUAN ZHENGYU), YUAN HONG, WANG XINGHAI, JINQIANLIU (LIU JINQIAN), AND WEN WANG (WANG WEN).
HOWEVER, MENGKE SAID THAT AFTER THE DEPARTURE OF DR.
EDWARD JOW FANG, DR.
BARRY HAFKIN, THE COMPANY'S CONSULTANT, WILL BE RESPONSIBLE FOR THE COMPANY'S CLINICAL RESEARCH IN THE UNITED STATES AND OTHER COUNTRIES OR REGIONS FULL-TIME
.
THE DEPARTURE OF DR.
EDWARD JOW FANG WILL NOT HAVE A MATERIAL IMPACT
ON THE COMPANY'S TECHNOLOGY RESEARCH AND DEVELOPMENT, CORE COMPETITIVENESS AND ABILITY TO CONTINUE AS A GOING CONCERN.
FOR THE WORK THAT DR.
EDWARD JOW FANG WAS RESPONSIBLE FOR BEFORE LEAVING, THE MEASURES TAKEN BY THE COMPANY WERE ENTRUSTED TO DR.
BARRY HAFKIN, AND THE RELEVANT WORK HAS BEEN HANDED OVER
.
DR.
BARRY HAFKIN HAS OVER 40 YEARS OF MEDICAL EXPERIENCE IN INFECTIOUS DISEASE CLINICAL PRACTICE, LARGE PHARMA AND SMALL BIOTECHNOLOGY COMPANIES, HAVING SERVED AS CHIEF MEDICAL OFFICER
FROM AUGUST 2015 TO APRIL 2019.
Prior to joining the company, he was a senior director at Pharmacia & Upjohn LLC, a pharmaceutical and biotechnology company acquired by Pfizer in 2003, where he was involved in the development of
linezolid.
According to the data, Mengke Pharmaceutical is an innovative drug enterprise with the treatment of infectious diseases as the core, with global independent intellectual property rights and international competitiveness, and is committed to discovering, developing and commercializing innovative drugs
for unmet clinical needs.
The company has established R&D centers
in both China and the United States.
The company's product pipeline is mainly focused on the treatment of "drug-resistant gram-positive and gram-negative infections"
.
Among them, the company's first antibacterial product contizolidide tablets is a new generation of oxazolidinone antibacterial drugs independently designed and developed by the company, which can be used to treat infections caused by multidrug-resistant gram-positive bacteria; Contizolid has completed phase I, II and III clinical trials in China, phase I clinical trials in Australia and phase II in the United States, approved for marketing through the priority review and approval process of the State Food and Drug Administration on June 1, 2021, and entered the 2021 national medical insurance catalogue (Class B)
through national medical insurance negotiations in December 2021.
In addition, the water-soluble prodrug MRX-4 of contizolid and the drug MRX-8 for the treatment of multidrug-resistant gram-negative bacterial infections are in clinical trials in the United States
.
According to the prospectus, Mengke Pharmaceutical's revenue in 2019, 2020 and 2021 was 0 yuan, 0 yuan and 7.
66 million yuan respectively; The net loss was 115 million yuan, 86.
327 million yuan and 226 million yuan respectively; The net loss after deduction was 51.
4064 million yuan, 67.
0153 million yuan and 264 million yuan
respectively.
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