(Taiwan) PharmaEssentiA announces CoQ10 supply agreement with US chemical producer Frontier Scientific :: BiotechEast - Taiwan and China biotechnology, medical devices, pharmaceuticals, ^¤å½s×, ^¤å×§ï ::

(By David Silver, BiotechEast)

2 August, 2005
At a forum and press event held in Taipei on Monday, local biotech company PharmaEssentiA announced the signing of a marketing agreement with Frontier Scientific to supply the Utah-based chemical developer and manufacturer with Coenzyme Q10 (CoQ10).

Presenting the agreeements signed between Taiwan's PharmaEssentiA and Utah-based Frontier Scientific at a press event held in Taipei on Monday are (from left), Bert Israelsen, Executive Vice President, Frontier Scientific Inc.; Wu Rong-i, Vice Premier of Taiwan; and Dr. Lin Ko-chung, President of PharmaEssentiA.

Sometimes referred to as 'vitamin Q,' CoQ10 occurs naturally in the human body, although its concentrations diminish with age. The chemical is involved in ATP production at the cellular level, and has antioxidant properties similar to vitamin E.

First discovered in 1967, the earliest application of CoQ10 was in Japan where in the 1970s it was classed as a pharmaceutical and used as in heart disease therapy. Considered to have anti-aging and other preventative qualities, it was later classed as a food supplement and now a popular additive in sports drinks or as a stand-alone supplement, particularly in Japan. CoQ10 is also an in-demand additive for cosmetics and other personal care products for the large and growing US and European markets.

Hosting the packed-out event held at the Nankang Biotechnology Plaza, Taiwan's newest biotechnology cluster, was the president of PharmaEssentiA, Dr. Lin Ko-chung. Also speaking at the event was the executive VP of Frontier Scientific, Bert Israelsen, and a number of special guests, including the Vice Premier of Taiwan, Wu Rong-I, and Minister of State Dr. Lin Ferng-ching.

In explaining the reasons for the collaboration, Israelsen said that with the worldwide market size of CoQ10 currently at around US$500 million, but with CoQ10 at the early stage of popularity, demand for the chemical from the growing number of companies which add it to their products is now outstripping supply.

"Frontier Scientific made US$350 million in sales in 2004. However, our growth is being slowed by the problems of limited supply [of CoQ10]. That's what promoted us to pursue this agreement with PharmaEssentiA," he said.

There were only four companies that could manufacture CoQ10 at metric ton quantities at UPA quality standards, according to Lin, all located in Japan. PharmaEssentiA will be the first from outside Japan.

"PharmaEssentiA uses a special organic synthesis technique to manufacture CoQ10," said Lin. "This is how we have been able to achieve such purity rates, actually the highest ever recorded," he claimed.

As many companies around the world had tried to mass produce purified CoQ10 and failed even after many years of trying, PharmaEssentiA has made quite a name for itself with its new process, according to Israelsen.

"After only 20 months of developing its manufacturing process, PharmaEssentiA now produces the most purified CoQ10 in the world," he said, adding, "This is remarkable achievement. I consider them a world-class biotech company."

Under the agreement, PharmaEssentiA will supply metric ton quantities of CoQ10 to Frontier Scientific, which will in turn provide it to nutraceutical and cosmetics companies to add to their products. Situated in Utah, Frontier is well placed to supply the more than 130 nutraceutical companies that reside nearby, the most of any US State, according to Israelsen.

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