9th June 2015, Oxfordshire, UK: Phynova, the innovative life science company based near Oxford, today announces it has filed an application for registration with the MHRA for a second product, Isatis Cold and Flu Relief. This application will see Phynova work in conjunction with Xiangxue Pharmaceuticals, a leader in the modernisation of Traditional Chinese Medicine (“TCM”). Isatis Cold and Flu Relief will be an over the counter (“OTC”) herbal medicine.
This announcement follows Phynova’s recent success at becoming the first Company to receive MHRA approval for its TCM product Phynova Joint and Muscle Relief tablets. This collaboration brings a further interaction between Britain and China, which Phynova was at the forefront of during the recent GREAT Festival of Creativity in Shanghai. In working with Xiangxue, Phynova will be able to benefit from unparalleled insight into the Chinese market. At the same time, Xiangxue will become one of the first Chinese pharmaceutical companies, through their collaboration with Phynova, to have access to the lucrative European OTC market.
Isatis Cold and Flu Relief is derived from the root of the Isatis plant, commonly known as Dyer’s Woad in Europe due to the blue dye produced from its leaves. Its medicinal use has been well documented in China, and is aimed at the large OTC cold and flu market. In the UK alone, nearly £400 million is spent by consumers each year in this sector, and with public demand for natural remedies becoming ever stronger, Phynova believes that Isatis Cold and Flu Relief will establish itself within this market successfully.
Isatis is one of the most commonly administered traditional Chinese medicines for the relief of colds and flu in China and amongst the overseas Chinese communities. At the same time, Isatis is becoming increasingly popular amongst Western users.
Commenting on the new development partnership, Robert Miller, Chief Executive Officer of Phynova, said: “We are delighted to have submitted a second application for a Traditional Herbal Registration (THR) registration to the MHRA for Isatis Cold and Flu Relief, a product of Xiangxue’s subsidiary company Xiangcam TCM Research Centre Limited and we look forward to receiving regulatory approval in due course. Xiangxue is a long established and successful Company within China, with a market capitalisation of £2.2 billion, and a solid track record in modernising traditional Chinese medicine. Phynova has a strong history of Anglo-Sino cooperation, best shown by our recent inclusion in the UK trade mission at the GREAT Festival of Creativity in Shanghai. Phynova’s ability to provide the necessary validation to support the registration of Isatis Cold and Flu Relief in the UK and within Europe is invaluable to this project, along with our insight into the requirements of Western consumers, which has enabled us to tailor this ancient remedy into a modern and palatable dosage form.”
Phynova is an innovative life science company based in Oxford, UK with a subsidiary research company located in Beijing, China. Phynova develops and commercialises natural healthcare products derived from active compounds found in plants.
Phynova develops products for use in global healthcare and FMCG markets. It identifies active ingredients from plants with a rich history of use in traditional medicine, especially in China, and develops solutions for global health concerns.
Phynova Joint and Muscle Relief™ is the first ever traditional Chinese medicine approved by the Medicines and Healthcare products Regulatory Agency (MHRA; the UK’s regulatory body for medicines), under the 2004 EU Traditional Herbal Medicine Product (THMP) Directive. Phynova is registering a range of these OTC products based on traditional Chinese medicine. Phynova’s next THMP, a cold and flu remedy, is being collaboratively developed with Xiangxue Pharmaceuticals, a Chinese pharmaceutical company.
In addition to its growing THMP portfolio, Phynova is also pioneering novel plant-based products including its lead product IminoNorm®, a patented natural functional ingredient for blood-glucose control, PhynoRadiance®, a natural functional ingredient for skin lightening, and Melokinex™, a pharmaceutical drug candidate for post-operative ileus.
About Xiangxue Pharmaceuticals
Xiangxue is a major producer of modern TCM drugs in Mainland China, and last year produced and distributed £160 million worthof their products. Traditional medicine plays a vital role within Chinese and Asian cultures, with an understanding passed through generations on the effectiveness of this type of medication. Phynova will be working with Xiangxue to prove the quality, safety, and efficacy of this TCM to the MHRA, with the goal of successfully achieving its approval.
To read the article in Chinese please visit the link here.