SAN FRANCISCO and HONG KONG, Aug. 24, 2015 (GLOBE NEWSWIRE) -- BioQuiddity Incorporated, a specialty pharmaceutical company focused on the development and commercialization of large volume ready-to-use infusible pharmaceuticals, and Lee's Pharmaceutical (HK) Limited, a wholly-owned subsidiary of Lee's Pharmaceutical Holdings Limited ("Lee's Pharm") (SEHK Stock Code:0950), a biopharmaceutical company with over 20 years of operation in Asia, today announced the signing of a strategic license and supply agreement for the registration and commercialization of BioQuiddity's ropivacaine and propofol infusion pharmaceutical products in the People's Republic of China, Taiwan, Hong Kong, and Macau.
BioQuiddity's unit-dose infusible pharmaceuticals are comprised of the pharmaceutical, delivery system and administration line in a self-contained, single use, ready-to-use presentation. The ropivacaine pharmaceutical is prefilled with 0.2% ropivacaine and is intended to provide a safer, more efficient continuous-infusion post-operative pain solution. BioQuiddity's propofol infusion pharmaceutical features both programmable flow and bolus capabilities.
Josh Kriesel, President and CEO of BioQuiddity, stated, "We are excited to collaborate with Lee's Pharm as we pursue our goal of setting a new standard of care in the presentation and administration of infusible pharmaceuticals throughout the world. Lee's Pharm's extensive infrastructure and proven marketing team will be the key in bringing BioQuiddity's proprietary unit-dose, large volume infusion pharmaceuticals to the Asia Pacific region. We are extremely pleased to add another distinguished partner to our worldwide network."
Dr. Li Xiaoyi, Executive Director and Chief Executive Officer of Lee's Pharm, remarked, "We are honored to partner with BioQuiddity to bring the two unit-dose infusion pharmaceuticals to the Greater China market. BioQuiddity's infusion pharmaceuticals offer a new and differentiated mode of bringing infusible pharmaceuticals to our customers and to patients."
About BioQuiddity Inc.
BioQuiddity Incorporated is a privately held specialty pharmaceutical company focused on developing and commercializing ready-to-use infusible pharmaceuticals. The Company's infusion platform is intended to address some of the most pressing unmet needs in drug infusion today: cost, medication error, sterility, efficiency, and patient quality of life. BioQuiddity's objective is to set a new standard of care in the presentation and administration of infusible pharmaceuticals via the Company's proprietary unit-dose infusion systems that can be deployed quickly and conveniently at the point of care with one touch. The Company is ISO13485 certified. BioQuiddity's existing commercial collaborators and strategic partners include Novartis' Sandoz unit, Cipla, and West Pharmaceutical Services.
About Lee's Pharmaceutical Holdings Limited ("Lee's Pharm")
Lee's Pharm is a research-based biopharmaceutical company listed in Hong Kong with over 20 years operation in China's pharmaceutical industry. It is fully integrated with strong infrastructures in drug development, manufacturing, sales and marketing. It has established extensive partnership with over 20 international companies and currently has 14 products in the market place. Lee's Pharm focuses on several key disease areas such as cardiovascular diseases, oncology, gynecology, dermatology and ophthalmology. Lee's Pharm development program is lauded with 30 products stemming from both internal R&D efforts and collaborations with US, European and Japanese companies and aspires to combat diseases such as liver cancer and pulmonary hypertension. The mission of Lee's Pharm is to become a successful biopharmaceutical group in Asia providing innovative products to fight diseases and improve health and quality of life.
Safe Harbor Statement (Lee's Pharm)
The performance and the results of operation of Lee's Pharm during the past years are historical in nature and past performance can be no guarantee of future results of the Lee's Pharm. This news release may contain forward-looking statements and opinions that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements and opinions. Neither Lee's Pharm nor the Directors, employees or agents of Lee's Pharm assume (a) any obligation to correct or update the forward-looking statements or opinions contained in this news release; and (b) any liability in the event that any of the forward-looking statements or opinions does not materialise or turns out to be incorrect.
Forward Looking Statements (BioQuiddity Inc.)
This press release may contain forward-looking information about BioQuiddity Incorporated (the "Company"). Forward-looking statements are statements that are not historical facts. Words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," "strong," "upcoming," "prepared" and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding our ability to successfully develop and commercialize our therapeutic products; our ability to expand our long-term business opportunities; and our future performance, as well as the performance of our commercial and manufacturing partners.
All such statements are subject to certain risks and uncertainties, many of which are difficult to predict and some of which are beyond the Company's control that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking information and statements. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
CONTACT: BioQuiddity Contact Information: Josh Kriesel President and CEO 415-336-6496 Ron Pauli Chief Financial Officer 415-889-7707 Lee's Pharm Contact Information: Jason Chow Chief Financial Officer 852-2314-1282 Vivian Fung Licensing & Regulatory Manager 852-2314-6500 Media: Stephanie Carrington Integrated Corporate Relations, Inc (ICR) firstname.lastname@example.org 646-277-1282