Shares of M Pharmaceutical (CSE:MQ) soared 19 percent today as the company updated investors about its aggressive brand development as it builds on a successful round of biotech acquisitions focused on the treatment of diabetes and obesity according to an update from the company released on Friday.
On April 15, the company got new leadership as Dr. Martin Mintchev was as President and Chief Executive Officer. Dr. Mintchev is the primary developer of the innovative medical technologies held by M Pharmaceutical:
"This Company represents an opportunity to apply the expertise I have gained over decades in order to deliver realistic solutions that reduce invasiveness and enhance effectiveness for millions of people who require more options when facing obesity and diabetes," said Dr. Mintchev upon being appointed.
His leadership is considered invaluable as the company proceeds in its growth path.
On April 21, the company consolidated, 10:1, its issued and outstanding shares to give it a capital structure more in line with its sector peers in order to appeal more to institutional investors seeking growth opportunities in the life sciences industry.
Over the past three months 90 days, M Pharmaceutical Inc. has acquired three biomedical technologies addressing obesity and diabetes in a less invasive manner than its market competitors. This process started with M Diagnostics, as announced last February 19, which held the right to eMosquito.
The eMosquito will be developed as a less invasive way for diabetics to take blood samples for glucose level checks, by penetrating the skin to shallower depths, in less sensitive areas of the body. Currently, diabetics prick their fingers to monitor their blood glucose levels, which can be painful.
On March 28th, 2015, the company acquired RX Global Capital Inc to gain the intellectual property associated with temporary controllable pseudobezoars, a technology that was initially developed as a dietary supplement but has several potential medical device application.
On May 6th, 2015 the Company entered into an agreement with Trimtec Biomedical Inc., in order to secure the exclusive worldwide rights to Trimtec's patented biomedical technology relating to neural gastrointestinal stimulators.
The company says the gastrointestinal neurostimulators will complement the eMosquito blood glucose monitor and pseudobezoars for non-invasive weight loss already held by M Pharmaceutical:
"While all three of our biomedical technologies hold significant promise, this acquisition delivers a technology that is close to being ready for clinical trials on humans, since the implantable neurostimulator prototype is readily available," said the company in a statement.
This acquisition provides the Company with a strategic family of medical devices to add to its portfolio, diversify its product mix and reduce market sector risk.
The "M" from the M Pharmaceutical ties into all of the Company's biomedical technologies. But each of these will have a distinct brand:
The pseudo bezoar technology, previously called Eatlittle, will be developed under the Trimeo brand.
The neural gastrointestinal stimulators have been given the brand name Trimtec, which is suggestive of the desired end-user outcome of "becoming trim".
The initial diabetes technology, eMosquito, is building upon an existing market identity and related patents, helping to establish awareness and build on the concept of "mosquito technology".
Related to these is a family of biomedical technologies targeting obesity and diabetes for which M Pharmaceutical Inc. enjoys exclusive rights, all of which are less invasive than currently approved solutions on the market. These include:
Trimeo Weight Loss Capsules, a drug free, individually controllable solution that induces a feeling of early satiety.
The TrimTec Gastric Stimulation System, an innovative and minimally invasive surgical solution for significant weight loss.
The emosquito Wearable Blood Monitor, deploys mosquito technology for automatic and autonomous monitoring of blood glucose by diabetics.