Breakthrough Cooperation of Legend Capital’s Cross-border Portfolio Companies: Innovent and Etana Jointly Announce the Approval of Bevagen by the BPOM

Jun 15, 2022 | Business

On June 14, two of Legend Capital’s portfolio companies, Innovent Biologics, Inc. (“Innovent”) and PT Etana Biotechnologies Indonesia (“Etana”), jointly announced that the Indonesian Food and Drugs Authority (BPOM) had approved Bevagen (bevacizumab biosimilar), a recombinant humanized anti-VEGF monoclonal antibody drug for five indications including metastatic colorectal cancer (mCRC), metastatic triple-negative breast cancer (mTNBC), advanced non-small cell lung cancer(NSCLC), ovarian cancer (OC), and cervical cancer(CC). Under the approval of the BPOM, Bevagen will potentially be the first Chinese antibody drug to be marketed and locally produced in Southeast Asia.

Dr. Michael Yu, Founder, Chairman and CEO of Innovent, said, “We are pleased that under the strategic collaboration with Etana, the approval of Bevagen in Indonesia marked a meaningful step toward bringing Innovent’s innovative portfolio into the global market, benefitting patients globally. Pairing Etana’s commercial expertise in the local Indonesian market with Bevagen’s clinical profile, high-quality production and relative affordability, we are confident that Bevagen will launch to the market quickly and benefit many cancer patients.”

Nathan Tirtana, President Director of Etana, said, “Etana appreciates the support of BPOM for approving Bevagen for cancer patients in Indonesia. With this product, we believe we can provide better access to high-quality and affordable biosimilar drug to meet the need of cancer patients in Indonesia. Our next step is to implement the technology transfer and local Bevagen production in Indonesia via collaboration with Innovent.”

Legend Capital has been looking for investment and partnership opportunities in the Southeast Asian market since 2019 and ultimately invested in Etana in 2020. By leveraging the advantages of the portfolio ecosystem, Legend Capital has played an active role in promoting the strategic cooperation between Innovent and Etana.

Mr. Frank Hong, Managing Director of Legend Capital, said, “Congratulations to Innovent and Etana for the approval of the first biosimilar in Indonesia. This milestone achievement demonstrates the feasibility of expanding Chinese innovative drugs market access into the emerging markets. The emerging markets along the Belt and Road have significant demand for pharmaceutical products and unmet clinical needs, Chinese innovative therapeutics are particularly well suited to the needs of patients in developing countries given their quality and affordable prices. Legend Capital will continue to explore investment opportunities in the emerging markets and actively pioneer the path for Chinese high-end biologics’ overseas expansion, facilitating the globalization of Chinese pharmaceutical companies.”

Mr. Fei Qi, Executive Director of Legend Capital, said, “The cross-border investment and industrial collaboration in the Southeast Asian market possess unique challenges: from policy regulation, folk culture to healthcare system complexity. Etana has set up a competitive barrier of ‘Access + Manufacturing + Commercialization’ in Southeast Asia, and Legend Capital complemented Etana’s key ‘Business Development’ ability by leveraging its healthcare portfolio ecosystem. Legend Capital has provided a series of value-add services in terms of company strategy, business cooperation and subsequent financing to Etana since its investment. Etana has approached and discussed collaboration initiatives with more than 10 Chinese biopharmaceutical companies and plans to introduce more therapeutics that Indonesia currently lacks, such as cancer monoclonal antibodies, COVID vaccines, and antiviral infection drugs. Through the joint efforts of Etana and its partners, we believe that the company will be able to provide high-quality and affordable Chinese innovative drugs to Indonesia, Southeast Asia and even the Islamic world.”

Legend Capital has been firmly positioned to invest systematically in the field of innovative medicine. Adhering to the investment philosophy of “Global Vision, Chinese Insights”, Legend Capital is looking for truly internationally competitive technologies and teams to solve the unmet clinical needs; many of its portfolio companies have been listed on A-share or H-share successfully, such as Kawin Technology (688687.SH), Innovent Biologics (01801.HK), Hbm (02142.HK), Recbio Technology (2179.HK). At the same time, we also made investments in segment-leading companies such as GluBio Pharmaceutical, Ribo Life Science, PegBio, Exegenesis Bio, Lynk Pharmaceuticals and Innostellar Biotherapeutics.






Topic: Press release summary

Breakthrough for Magazine Publishers. Major Retailer to Start Selling Subscriptions on Their E-Commerce Site. MixMedia Services Chosen as Vendor.

Aug 25, 2021 | Business

 A magazine subscription store-within-a-store will open on a major U.S. retailer’s e-commerce site, says MixMedia, the retailer’s magazine subscription vendor. Launch is expected by end of 2021 and is one of three online magazine stores planned with major U.S. retailers.

The yet to be named retailer is reported to have a significant online presence with well over 20 million unique visitors per month. John Crouse, Managing Partner of MixMedia says, “It’s not often that a new channel of paid subscriptions opens for publishers. Advertisers, consumers, publishers, and the retailer all win. Engaged and paid audiences with great demos are not only good for publishers, but the magazine content also helps drive sales of in-store products for the retailer.”

MixMedia launched in January 2021 by John Crouse. John is a longtime magazine publishing veteran having worked at TV Guide, Reader’s Digest, Time Inc., and most recently EBSCO Industries. MixMedia assists brands in utilizing their content in new ways and helping open new revenue sources for its clients.

John Crouse

203-470-4971

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  • Publishing

Breakthrough COVID-19 Telehealth Impact Study Published from COVID-19 Healthcare Coalition

Aug 3, 2021 | Business

The COVID-19 pandemic sparked widespread innovation on the part of physicians and patients in the use of telehealth,” said Francis X. Campion, MD, FACP, principal lead, Digital Health at MITRE.

The independent academic healthcare publisher, Partners in Digital Health (PDH), has published findings from the three-part research project from the COVID-19 Telehealth Impact Study conducted by the COVID-19 Healthcare Coalition in the open access journal Telehealth and Medicine Today (TMT).

The study identifies characteristics of the explosive implementation and scale of telehealth use in the first year of COVID-19 pandemic – forever changing traditional healthcare practices and patient access in the United States. The research draws on analysis of over two billion healthcare claims records provided by Change Healthcare (with plans to unite with OPTUM) as well as nationwide surveys of providers and patients using telehealth during the pandemic.

Research study authors are affiliated with the following organizations:

  • Always Health Partners
  • Atrius Health
  • Change Healthcare
  • Digital Medical Society
  • Harvard Medical School
  • Massachusetts Health Quality Partners
  • Mayo Clinic
  • MITRE

“The COVID-19 pandemic sparked widespread innovation on the part of physicians and patients in the use of telehealth,” said Francis X. Campion, MD, FACP, principal lead, Digital Health at MITRE. “Based on our claims analysis and surveys we expect that telehealth will be integrated into the care of people with acute and chronic conditions and has the potential to greatly improve the care of underserved and vulnerable populations.”

“The experience with telehealth during the COVID-19 pandemic has opened everyone’s eyes as the potential to deliver health care in much more safe and convenient ways,” said Steve Ommen, M.D., medical director of Experience Products for Mayo Clinic’s Center for Digital Health. “I think that years from now, we will point to 2020 as the year that the potential of digital care delivery became a reality, as long as the regulatory and reimbursement environment is conducive to its growth.”

To read the study visit Telehealth and Medicine Today open access journal here or visit DOI: https://doi.org/10.30953/tmt.v6.280

About
Telehealth and Medicine Today (TMT) is a gold open access international peer reviewed journal examining the value of telehealth and clinical automation, its use and scalable developments, business process guidance, market research and the economic impact of digital health innovations in an evolving health technology sector. Authors are encouraged to submit outcomes data for cost efficiencies realized in health system(s), patient populations or clinical practices that demonstrate affordable, accessible, quality care in a value based system. A world-class review board includes constructive commentary through rapid and rigorous peer review to strengthen work. Published quarterly, TMT registers original research article provenance on the blockchain to bring trust, transparency, and truth to its audience.

COVID-19 Healthcare Coalition
The COVID-19 Healthcare Coalition is a private-sector-led response to the COVID-19 pandemic that brings together healthcare organizations, technology firms, nonprofits, academia, and startups. It coordinates members’ collective expertise, capabilities, data, and insights to preserve the healthcare delivery system and help protect U.S. populations. Learn more at https://C19HCC.org.

CONTACTS
Tory Cenaj, Publisher, Telehealth and Medicine Today
t.cenaj@partnersindigitalhealth.com

Duska Anastasijevic, Public Affairs, Mayo Clinic
anastasijevic.duska@mayo.edu

Mike Murphy, Strategic Communications, MITRE for the COVID-19 Healthcare Coalition
mdmurphy@mitre.org