Israeli Biotech Supertrans Medical Announces $2 Million Strategic Investment from South Korean Mediforum

▴ Israeli Biotech Supertrans Medical
South Korean firm invests $2 million in Israeli Biotech firm.

A privately held biopharmaceutical company with initial focus on the discovery and development of novel antibiotics, today announced that leading South Korean biopharma Mediforum Pharm will make a $2M investment in them. In return, Mediforum will collaborate with the company in the manufacturing and commercialization of their products in Asia, including South Korea, China, and Japan. Additionally, Mediforum will fully commit and support the company future drug development programs.

This technological approach could help bridge a gap to deliver urgently needed antibiotics to thwart multi-drug resistant bacterial pathogens.

In addition, the company is completing candidate assessments for the treatment of COVID-19 based on its transporter technology. The candidate compound will be aimed in preventing both viral and bacterial pulmonary infections. The company is currently preparing its drug development program.

Mediforum is a Seoul-based pharmaceutical company which is specialized for researching and developing novel drugs against neuro-degenerative disease such as Alzheimer's disease and Parkinson's disease. “Super Trans Medical is thrilled to partner with Mediforum as our lead strategic investor. We are looking forward to a long-term partnership to further develop and commercialize the technology," commented Lewis F. Neville, CEO of SuperTrans Medical.
"In a short period of time, we have made significant inroads into the design and evaluation of different FDA-approved antibiotics that were conjugated to the company's unique transporter technology. This has already resulted in the identification of a number of compounds worthy of late stage development. Mediforum has identified the strength of our platform technology to improve the properties of existing FDA-approved antibiotics. Mediforum's investment will allow a lead antibiotic-conjugate to enter Phase 1 testing within 12-15 months."

"We are delighted to invest in the company. We have been impressed by their rapid progress during the last number of months that has culminated in the development of a number of lead compounds. We believe that their transporter technology can represent a paradigm-shift for the accelerated development of much needed antibiotics into human trials. Mediforum will proactively play its role as a strategic partner through the co-exchange of all research and development efforts. Although their technology is at a relatively early stage of development, we anticipate the launch of a new generation antibiotic for testing will be relatively fast. This is because the technology can be easily conjugated to existing FDA-approved antibiotics," commented Mr. Park Jaehyung, CEO of Mediforum. "Furthermore, they are strengthening their pipeline through the support of Stanford University and other scholars. Also, SuperTrans is preparing for a Hong Kong IPO in 2022, which is highly attractive for Mediforum," further commented Mr. Park Jaehyung.

Tags : #IsraeliBiotech #SouthKorean #Investment

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