Medibio Enters Into an Agreement with Otsuka Pharmaceutical Development & Commercialization, Inc.
Medibio will leverage its proprietary Digital Mental Health platform to process Otsuka clinical data with the goal of further clarifying the role of biomarker-based, objective measures in management of serious mental illness.
- Paid commercial arrangement for Medibio
SYDNEY, Australia and MINNEAPOLIS, Oct. 08, 2017 (GLOBE NEWSWIRE) -- Medibio Limited (MEB or the Company) (ASX:MEB) (OTCQB:MDBIF), is a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions, is pleased to announce it has entered into an agreement with Otsuka Pharmaceutical Development & Commercialization, Inc. (Otsuka).
Medibio will apply its advanced proprietary analytic platform to Otsuka clinical data to characterize key circadian, autonomic, and sleep biomarkers related to serious mental illness. Under the terms of the agreement, Medibio will receive payments for services provided.
"We are excited about working with Otsuka, a recognized worldwide leader in treatments for serious mental illness, to advance our mutual understanding of the biology that underpins mental illness, with the goal of improving outcomes," says Medibio CEO and Managing Director Jack Cosentino. "We look forward to a long and fruitful collaboration."
About Otsuka Pharmaceutical Development & Commercialization, Inc.
Otsuka Pharmaceutical Company is a global healthcare company with the corporate philosophy: "Otsuka-people creating new products for better health worldwide." Otsuka researches, develops, manufactures, and markets innovative products, with a focus on pharmaceutical products to meet unmet medical needs and nutraceutical products for the maintenance of everyday health.
In pharmaceuticals, Otsuka is a leader in the challenging area of mental health and also has research programs on several under-addressed diseases including tuberculosis, a significant global public health issue. These commitments illustrate how Otsuka is a "big venture" company at heart, applying a youthful spirit of creativity in everything it does.
Otsuka Pharmaceutical Development & Commercialization, Inc. (OPDC) is dedicated to clinical development of promising drug candidates in mental health, oncology, cardio-renal, and nephrology. Other activities include strategic planning for drug approval, marketing, and lifecycle management to maximize a product's full potential.
OPDC is an indirect subsidiary of Otsuka Pharmaceutical Company, Ltd., which is a subsidiary of Otsuka Holdings Co., Ltd. headquartered in Tokyo, Japan. The Otsuka group of companies employed 45,000 people worldwide and had consolidated sales of approximately USD 11 billion in 2016.
All Otsuka stories start by taking the road less travelled. Learn more about Otsuka in the U.S. at www.otsuka-us.com and connect with us on LinkedIn and Twitter at @OtsukaUS. Otsuka Pharmaceutical Co., Ltd.'s global website is accessible at www.otsuka.co.jp/en/.
About Medibio Limited
Medibio (ASX:MEB) (OTCQB:MDBIF) is a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions. The company was founded in Australia, with offices located in Melbourne (Vic), and U.S. offices in Minneapolis, MN and Palo Alto, CA. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market www.otcmarkets.comand www.asx.com.au.
|Further Information:Website: www.medibio.com.au|
Medibio Shareholder Enquiries:
CEO and Managing Director
T: +1 (952) 465 4787
Australian Media Enquiries:
T: +61 (0) 412 036 231
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Medibio Limited via Globenewswire
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