Apr 24, 2020 - SGX-listed Singapore eDevelopment Ltd's (SeD; SGX:40V) wholly owned subsidiary Impact Biomedical Inc., announced today that their suite of antiviral and medical technologies, co-owned with its partners, is valued at USD 592 Million (SGD 841 Million). Impact Biomedical's effective ownership of 64.53% in the suite of technologies equates to a value of USD 382 Million (SGD 542 Million). Following encouraging COVID-19 testing results, the groundbreaking technology was independently valued by recognized intellectual property valuation and licensing firm Destum Partners, known globally for its high level of expertise and capability in independently valuing and licensing pharmaceutical technology. The commercial assessment includes: 3F Biofragrance - a key component of the Open Air Defense Initiative, Equivir - an OTC medication with broad antiviral activity, and Linebacker - a broad-spectrum universal therapeutic. Continuing development of the COVID-19 research program is underway.
This research is part of a multi-year pandemic research program conducted by Impact Biomedical's research partner, GRDG Sciences, LLC ("GRDG"), which covers a wide range of solutions to global health issues to adhere to the principles and initiatives established by Project Bioshield and the Biomedical Advanced Research and Development Authority (BARDA). All three compounds were tested against a rigorous in vitro respiratory virus panel by GRDG, who utilized the non-clinical and pre-clinical services program offered by the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health. Previous antimicrobial research was conducted at multiple independent laboratories. The technology consists of:
- 3F Antiviral Biofragrance - 3F Antiviral Biofragrance was designed for the Open Air Defense Initiative, a strategy to protect locations where large numbers of people gather or transit such as airports, containment areas, train stations, convention centers, hospitals, and ports of entry. The concept is rather than quarantine people from the virus, quarantine the virus from people. 3F Biofragrance technology also provides protection against mosquito-borne diseases such as Zika, Malaria and Dengue fever and is 10-fold more effective than DEET. 3F Mosquito uses other receptor modalities than traditional mosquito repellents to effectively blind humans to mosquitoes. The Open Air Defense Initiative was created as a solution for Event 201, a pandemic exercise conducted in 2019 by the Johns Hopkins Center for Health Security, the World Economic Forum and the Bill and Melinda Gates Foundation. Event 201 highlighted areas where public/private partnerships are vital to respond to a severe pandemic. 3F Antiviral Biofragrance is effective against E. coli, MRSA, Influenza, Rhinovirus, Tuberculosis, and COVID-19.
- Equivir - Equivir was created as a solution for Project Bioshield, a U.S. government program to conduct and support research and development activities for countermeasures in biological emergencies. Equivir is a patented OTC medication that has broad antiviral efficacy against multiple types of Influenza, Rhinovirus, Cholera, Ebola, and COVID-19.
- Linebacker - Linebacker was modeled to shadow the Panacea program created by the US Defense Advanced Research Projects Agency (DARPA). Panacea was a research program designed to provide novel, multi-target therapeutics for unmet physiological needs. Linebacker is a patented universal therapeutic medication with demonstrated effectiveness in neurological diseases including Parkinson's, multiple histotypes of cancer, and multiple pathogens such as MRSA, E. coli, Cholera, A. baumannii, Influenza, SARS, MERS, Malaria, and COVID-19.
- Laetose - Laetose is a reduced calorie low glycemic sugar replacement created to address the rising global problem of metabolic disorders and associated conditions.
Previous research identified the Angiotensin converting enzyme 2 ("ACE2") as the host receptor for SARS-CoV-2, the virus causing the COVID-19 pandemic. Molecular docking conducted by GRDG indicated that Linebacker and Equivir cause a conformational change and modulate the ACE-2 receptor and block three integral viral mechanisms for SARS-CoV-2 replication and infection: the viral spike interaction point, helicase, and protease on the ACE-2 receptor.
"This professional valuation further validates our technologies, allowing us to move to the next step of engaging in further collaborations to bring things up to speed" said Mr Chan Heng Fai, Executive Chairman of SeD.
GRDG's Chief Scientific Advisor is Dr. Roscoe M. Moore, Jr., the former United States Assistant Surgeon General and former Epidemic Intelligence Service Officer at Centers for Disease Control and Prevention or CDC. He said, "the multiple strategies developed by GRDG to fight global healthcare issues including the recent COVID-19 pandemic are important advances in science to potentially save many lives."
Also advising GRDG is Lieutenant Colonel William H. Lyerly Jr., retired Career Senior Executive/Scientific Professional from the U.S. Department of Homeland Security and retired U.S. Army Medical Service Corps Officer. Lieutenant Colonel Lyerly also served as a senior official in the U.S. Department of Health and Human Services, the U.S. Agency for International Development, and the U.S. Executive Office of the President (White House). Lieutenant Colonel Lyerly said, "GRDG's multi-prong strategy to develop and validate different technologies for threats to health is a positive step forward to address many unmet medical needs including the application of evolving novel interventions to address the current Coronavirus pandemic."
Daryl Thompson, Director of Scientific Initiatives and founder of GRDG said, "We are proud of the Impact Biomedical research team and the successful accomplishment of a 5 year research and development project focused on the identification and proving of viable biodefense countermeasures as outlined in the Pandemic and All Hazards Preparedness Act established in 2006.
"Moving ahead we are looking forward to another series of research focused on developing global viral mitigation and control technologies for scenarios such as the current COVID-19 outbreak, the development of novel antiviral therapeutics, as well as addressing solutions for the impending 'patent cliff' crisis expected in 2024.
"Impact Biomedical and its research partner Global Research and Discovery Group Sciences will work with leading global policy makers to establish specially created research teams focused exclusively on 'difficult to achieve' or nearly impossible projects utilizing lessons learned from our previous projects."
Shareholders and potential investors of SeD are advised to read this Press Release and any further announcements made by SeD carefully. Shareholders and potential investors of SeD are advised to refrain from taking any action with respect to their securities in SeD which may be prejudicial to their interests, and to exercise caution when dealing in the securities of SeD. Shareholders and potential investors of SeD should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.
About Singapore eDevelopment Limited
Incorporated on 9 September 2009 and listed on the Singapore Exchange in July 2010, Singapore eDevelopment Limited is involved in (i) property development and investments primarily in the United States and Western Australia; (ii) information technology-related businesses; (iii) development, research, testing, manufacturing, licensing and distribution of biomedical products; and (iv) investment activities. For more information, please visit: www.SeD.com.sg or email [email protected].
About Impact BioMedical, Inc.
Impact BioMedical, Inc. ("Impact BioMedical") is a wholly-owned direct subsidiary of Global BioMedical Pte. Ltd., which in turn is a wholly-owned direct subsidiary of Singapore eDevelopment Limited, a company listed on the Singapore Exchange. Impact BioMedical strives to leverage its scientific know-how and intellectual property rights to provide solutions that have been plaguing the biomedical field for decades. By tapping into the scientific expertise of GRDG Sciences, LLC. and Australian Exchange-listed Holista CollTech Limited, Impact BioMedical pledges to undertake a concerted effort in the R&D, drug discovery and development for the prevention, inhibition, and treatment of neurological, oncological and immuno related diseases.
About GRDG Sciences, LLC.
GRDG Sciences, LLC is an advanced research team formed in Florida by drug discovery research scientist, Daryl Thompson. For more information, please visit: http://www.globalrdg.com.