Biostar signs LOI with China’s military medical varsity for Viacom trials

The First Affiliated Hospital of Dermatology of FMMU has developed the drug, which will be used to treat skin diseases, such as bacterial and fungal infections, dermatitis and eczema, specifically for China’s military.

Phases I to III clinical trials must be conducted for a period of three years prior to receiving final approval from military authorities to start production of Viacom, which has passed all standard tests related to efficiency, toxicology, quality, and stability.

As per the agreement, FMMU will submit applications, receive approvals to commence clinical trials, coordinate with China’s military authorities during the trials, and provide its facilities and technologies for trials for next three years.

Biostar will coordinate with FMMU to complete the clinical trials before October 2015, bear all costs of clinical trials and approvals, complete the construction of the production line, and manufacture the drug using FMMU technology.

Biostar’s chief executive officer and chairman Ronghua Wang said following the initial clinical research, Viacom has demonstrated encouraging results for the treatment of several skin diseases.

"Once Viacom receives approval from the military authorities to be sold in military hospitals, we will apply to receive SFDA’s approval to sell it in health care centers and hospitals all over the country," Wang said.

China’s military authority is yet to approve the LOI, submitted by both Biostar and FMMU.

"We are targeting additional LOIs with FMMU to conduct clinical trials for new products, which will help us become a production base for manufacturing drugs specifically for the needs of China’s military."