Canada and Hong Kong-based Kinetana International Biotech Pharmaceutical has applied to list on the Growth Enterprise Market (GEM) and is aiming to launch a share offering in the next two months, according to sources.
The firm, led by Chinese Canadian Tam Yun-kau - a University of Alberta adjunct professor of pharmacokinetics - helps other firms test the ingredients of prospective drugs and develops health-food supplements and new drugs. Pharmacokinetics is the study of the movement of drugs in the body, including how the body metabolises and eliminates drugs.
Professor Tam would not disclose details about the listing plan or financial performance but said the company had invested about HK$30 million on its development so far.
Kinetana International provides pre-clinical trial services to pharmaceutical companies in the drug discovery process and develops technologies to identify chemicals that could be developed into new drugs.
Formed in 1998 with a head count of 25 employees, including eight with doctorate degrees, it has obtained a patent from the United States for its simulated biological dissolution and absorption system (SimBioDAS).
SimBioDAS is an artificial gut mimicking the human absorption system using normal human cell lines and computer modelling.
The company is planning to launch in the third quarter a ginkgo food supplement capsule which Professor Tam says increases blood-flow to the brain and improves alertness. It has a joint venture with GEM-listed New Chinese Medicine Holdings to distribute the capsules.
The launch of more food supplements based on Chinese medicine and herbal formulations is on the cards.