KUALA LUMPUR, 12 JULY 2023 – Duopharma Biotech Berhad (“Duopharma Biotech” or “the Company”) has, via its wholly-owned subsidiary Duopharma (M) Sendirian Berhad (“DMSB”), signed a non-binding term sheet on proposed collaboration with Canada-based phytopharmaceutical biotechnology company Kensana Health, Inc (“Kensana Health”) in June 2023. In an exchange of documents ceremony held here today in relation to the execution of the said term sheet in conjunction with Kensana Health’s visit to Duopharma Biotech Group, Duopharma Biotech was represented by Group Managing Director Leonard Ariff Abdul Shatar and Chief Executive Officer (Commercial) Wan Amir-Jeffery Wan Abdul Majid, while Kensana Health was represented by its Chairman, CEO and Founder Ken Clement and Executive Biotechnology Advisor Alessandro Ciri.
In this proposed collaboration, DMSB and Kensana Health will explore joint clinical research and development (R&D) and product commercialisation, focusing on pain relief therapies. The potential clinical research will be conducted in Malaysia to study the use of cannabinoid products for chronic pain-related indications. Prior to commencing any proposed trials, the research teams will seek approval from the relevant ethics committee and regulatory bodies in Malaysia, in line with standard requirements and in accordance with all applicable regulations. The term sheet between DMSB and Kensana Health also envisages the former receiving commercial rights to distribute, market and sell products used in the joint trials, within the relevant markets. The term sheet is subject to the execution of formal definitive agreements that will detail the proposed clinical research and development, as well as the terms and conditions for product commercialisation. Both parties are committed to reaching mutually agreeable terms that will enable the successful implementation of these initiatives.
“As a healthcare company, committed to our vision of “Providing Smarter Solutions for a Healthier Life”, we are always seeking like-minded partners who can help Duopharma Biotech achieve our mission to be the “Leading Healthcare Group Providing Quality and Innovative Solutions”. This collaboration with Kensana Health will further enable us to pursue opportunities in expanding applications for plant-based pharmaceuticals – which include cannabinoids, in response to growing interest among patients.
Our continuous efforts to expand access to much-needed medicines and therapies, such as pain relief therapies that can improve the quality of life for chronic pain patients, also aligns with our ESG commitment, where one of our Key Focus Areas is Access to Medicine,” said Leonard Ariff Abdul Shatar, Group Managing Director, Duopharma Biotech Berhad.
Ken Clement, Chairman, CEO and Founder of Kensana Health commented, “Kensana Health is honoured to begin a long-term partnership with Duopharma Biotech to bring phytopharmaceuticals to Malaysia and the ASEAN region. Kensana Health’s core technology lies in our ability to standardise the growth of naturally occurring compounds from known medicinal plants. Kensana Health is currently in the development stage of building a world class European Union Good Manufacturing Practice (EUGMP), Halal certified phytopharmaceutical facility in Malaysia. This partnership advances both Duopharma Biotech and Kensana Health’s vision to provide evidence-based medications from plants to Malaysians.”