BioFirst's "Glory of Taiwan" enters European Market (July 28, 2014)

BioFirst (6458) has good news right after registered in Emerging Stock Market on July 15. Its newly developed "Artificuial Vitreous" received attentions from leading European Ophthalmic Pharmaceuticals. The two parties signed an authorization agreement to establish foundation to enter European market aggressively.Through the Global aging trend and the development of smartphones, retinal disease has become common disease, and it will result in increasing demand for 'Artificial Vitreous". Several leading foreign biotech pharmaceuticals have perceived market potential and have contacted BioFirst to discuss authorization cooperation opportunities. BioFirst is currently meeting representatives from US, China and Italy closely to capture the future opportunities in the medical device market. Current treatment for retinal disease is to inject gas or silicone oil as artificial vitreous, with disadvantages that patients requires to stay in bed for up to several weeks or need to undergo secondary surgery to remove silicone oil. BioFirst's "Artificial Vitreous" is made from hyaluronic acid derivatives, which is safe and forms gel rapidly, lasts for several weeks, and then be eliminated gradually. It does not require staying in bed or secondary surgery, which provides a good solution for the existing problems of current products. It's great news for both patients and physicians. President of BioFirst, Dr. Tsung-Shann Jiang indicates: "BioFirst's mission is to honor this "Glory of Taiwan", to enter global market, and to enlighten the window of human soul in the world". The global market size of artificial vitreous is estimated US$2 Billion annually, Europe will be one of the major market, strategically partner with EEC countries with authorization agreement will establish a solid foundation for entering European market successfully.