PhytoHealth Corporation (TWSE 4108) received the National Innovation Award from the Speaker of the Legislative Yuan in Taiwan, Mr. J. P. Wang, for its new drug candidate PHN131- a new oral analgesic for moderate to sever pain. The award was hosted by the Institute for Biotechnology and Medicine Industry (IBMI).

 

PHN131 is an orally administrable formulation of an approved analgesic injectable which has the potency equivalent to morphine per milligram basis. PHN131 possesses the advantages of low physical dependence, low addiction, and ceiling effects for respiratory depression. With the patented technology, the oral bioavailability is intensively enhanced which diversifies the therapeutic uses and enhances the convenience of PHN131. Furthermore, being developed from an approved drug, the time-to-market for PHN131 would be reduced as the probability for success is expected to be higher. Meanwhile, PHN131 will share the analgesic market estimated to exceed US$ 15.7 billion annually based on IMS market analysis.