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The DaZen (China) Pharmaceutical is wholly owned subsidiary of the US DaZen Theranostics Inc. Messrs 余波 and 廖凱 are our legal representatives running the DaZen (China). Our Subsidiary shares the patent licensing rights and ownership with the US parent company. The Subsidiary started its operations in Chengdu in January of 2019. The total investment by the parent company will eventually reach 50M RMB in time.
The technology of the company, a total of eight patent applications and two granted patents, is the fruit of lifetime research of Dr. Chung with his colleagues, including his wife Dr. Haiyen Zhau, at George State University, Emory University, and Cedars Sinai Medical Center. The US DaZen Company was incorporated in the State of Delaware in 2012 as an LLP which was converted to a C-Corp in 2017. Dr. Chung and his wife were the owners of the LLP. With an intention of bringing their very effective cancer treatment technology to the world for the late stage cancer patients they named the company Da Zen which means great kindness in Chinese. Our CEO, Mr. Yu-Ping Cheng, was a former executive of Silicon Valley with extensive experiences running startup companies. Dr. Leland Chung requested Mr. Cheng in the early part of 2017 to lead the company as an interim CEO and to register the company in the State of California as well. Under the leadership of Mr. Cheng, the company has obtained the global exclusive license agreements, a total of six patent applications and one granted patent, from Georgia State University (GSU), Emory University, and Cedars Sinai Medical Center (CSMC). Mr. Cheng has also obtained the support from University of Texas Southwest (UTSW) to commence the project of DZ-004, described in detail in Section 4, that we are applying for the grant to develop a cancer therapeutic drug as the deliverable. Currently, the company has DZ-002 and DZ-003 drugs in its R&D pipeline. A patent the company filed in 2015 has been granted. In 2018, the company filed two new patent applications in both the US and CN that are not published yet. In 2019, the company started three EP patent applications in national phase. The company has completed the GMP production, i.e. the API, of the DZ-002 drug at China Gateway Company. It has also completed the drug DMPK In-vitro study and toxicity maximum dosage studies. Other studies in progress are In-vivo studies at ChemPartner of Shanghai and toxicity studies at JOINN Lab of Beijing. The completion of GLP is scheduled at the summer of 2020. Our DZ-003 drug is in pre-GLP stage and our delivery of the DZ-004 is scheduled for 12 months. The company is filing the patent application of DZ-004, which is described in details of the Section, Project. The company is just about to complete the pre-clinical works of DZ-002 and is preparing the corresponding IND filing in the coming months. |
