Biostar Pharmaceuticals Inc (BSPM: Quote) Wednesday announced that it has signed a Letter of Intent with The Fourth Militaryv Medical University, or the FMMU, to jointly conduct Phases I to III clinical trials for Viacom Pine II Cream drug.
The manufacturer and marketer of pharmaceutical and health supplements in China, Biostar, further stated that it has submitted the LOI to the Chinese military authorities for approval.
Viacom is a prescription drug developed by the First Affiliated Hospital of Dermatology of FMMU specifically for the needs of China's military and will be used to treat skin diseases such as bacterial and fungal infections, dermatitis and eczema.
Biostar stated that as per the terms of the LOI, FMMU will be responsible for submitting applications and receiving approvals to commence clinical trials; coordinating with China's military authorities during clinical trials and securing all needed approvals to continue Phases I to III of these clinical trials for the next three years at FMMU's facilities; securing final production approvals by October 2015; and providing the technology to ensure the quality and effectiveness of the product.
Biostar further stated that it would be responsible for coordinating with FMMU to complete the clinical trials before October 2015; bearing all costs of clinical trials and approvals; completing the construction of the production line and obtaining the GMP certification on time; and manufacturing the drug using the technology provided by FMMU.
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by RTT Staff Writer
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