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Mediforum becomes first Korean pharmaceutical company to be scheduled to list on NASDAQ
News provided byEIN Presswire
Nov 25, 2022, 12:00 PM ET
Mediforum to explore Phase III clinical trial of PM-012 with the US Food and Drug Administration for the treatment of dementia and Alzheimer’s disease.
Inception Growth Acquisition Limited (NASDAQ:IGTA)LOS ANGELES, CA, UNITED STATES, November 25, 2022 /EINPresswire.com/ -- Mediforum is scheduled to be listed on NASDAQ through a SPAC merger in the first half of next year with the MOU signing ceremony that took place on November 23rd, 2022. The ceremony, which was broadcast live in Korea, Beijing and Hong Kong, was conducted between Mediforum Co. Ltd and SPAC Inception Growth Acquisition Limited (IGTA). The market capitalization of IGTA is around $130 million, and when the merger is complete, it will hold 30% of Mediforum’s shares. Currently, IGTA is trading on NASDAQ at around $10 per share.
Mediforum’s PM-012, a combination drug developed with 7 natural substances that promotes proper brain metabolism and brain cell activation, has thus far been proven to be a safe and effective treatment for dementia and Alzheimer’s disease with no harmful side effects. Unlike drugs created with synthetic compounds, it is a safe drug with the restorative effect of reversing memory loss and promoting the growth of new neurons in the brain.
PM-012 has undergone Phase IIa clinical trials with the Ministry of Food and Drug Safety in South Korea, and is currently undergoing Phase IIB trials while also having gained approval for Phase III trials there. With this recent agreement, it’s expected to substantially improve Mediforum’s financial structure and help it prepare to apply for Phase III clinical trials with the US Food and Drug Administration so the drug can be brought to market in both countries upon completion of the final Phase III clinical trials.
In addition, Mediforum has multiple other drugs in various stages of development and clinical trials in the pipeline. Mediforum’s MF-018, a non-narcotic analgesic, is also undergoing clinical trials with the MFDS in Korea. With the opioid epidemic impacting various countries around the world, Mediforum has made it a priority to effectively combat such substance abuse with its MF-018, which was selected as one of the top 100 national objectives in Korea outlined by the Ministry of Science and ICT and the Korea Institute of Science and Technology Evaluation and Planning (KISTEP). If it successfully undergoes clinical trials and gets commercialized, it is expected to have an immense competitive edge over opioids in the analgesic market.
Mediforum is a bio-tech firm out of Seoul, Korea that is leading the race to find a treatment for Alzheimer's dementia with a focus on producing safe and effective drugs and supplements without the harmful side-effects common in drugs today. The company is the first to reach the 3rd phase clinical trial in Korea for the treatment of Alzheimer's dementia and the first Korean bio-tech company to list on NASDAQ.
Mediforum was born out of researchers working at leading universities in Korea in the field of medicine and traditional medicine. Their mission has been one of producing effective and safe supplements and drugs utilitizing naturally sourced compounds and testing them vigorously utilizing western clinical trial methodology. Having seen the long list of side-effects associated with the vast majority of intervention strategies for Alzheimer's and cancer, Mediforum is leading the way to produce supplements and drugs to improve the quality of life for those suffering from such conditions. The company also offers a vast lineup of rapid PCR diagnostics test kits for HPV and STDs and other genetic biomarkers and conditions.