Beroni Group Sets Up a New R&D Centre in High-Tech Hub in Zhuhai, China

Rhea-AI Summary

Beroni Group (OTCQX: BNIGF; NSX: BTG) has announced plans to establish its first Research & Development (R&D) center in the Zhuhai National High-Tech Industrial Development Zone, China. The new facility, covering 4,000 square meters, will include laboratories and a GMP pilot manufacturing plant. Beroni is investing US$10 million into clinical trials at this site. This initiative aims to enhance drug development, focusing on oncology and immunotherapy. Construction is set for completion in Q2 2022, with the center fully operational later in the year.

Positive

• Plans to invest US$10 million into clinical trials at the new R&D facility.
• New R&D center will accelerate drug development, particularly in oncology and immunotherapy.
• Beroni owns 80% of the new company, Beroni Pharmaceutical (Guangdong) Co., Ltd.

Negative

• None.

NEW YORK and SYDNEY, Australia, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Beroni Group (OTCQX: BNIGF; NSX: BTG) (“Beroni” or the “Company”), an Australia-based diversified biopharmaceutical enterprise focused on the research, development, innovation and commercialization of therapies and products for treatment of global diseases, is pleased to announce today that it has signed a contract to build a new Research & Development (“R&D”) centre in the Zhuhai National High-Tech Industrial Development Zone in China. Beroni aspires to build a state-of-the-art facility with new preclinical research labs, manufacturing process development labs, and a GMP pilot manufacturing plant.

The new R&D centre -- the first R&D site for Beroni -- will help the Company develop new drugs and medicines to cater for the vast needs of the Chinese market. To start with, the Company will occupy about 4,000 square metres (44,000 square feet) of office space for setting up the GMP plant and laboratories. Construction of the new R&D facilities is expected to be completed towards the end of the second quarter, and the entire R&D centre is expected to be ready in the second half of this year. Beroni intends to commit US$10 million to support the clinical trials in the new R&D facility. A new company, Beroni Pharmaceutical (Guangdong) Co., Ltd, has been established for this new venture with Beroni owning 80% of the entity’s shares and a local investor owning the other 20% shares. The Company will bring professional staff, scientists, technicians, and support teams together into a state-of-the-art hub for innovation and development of the company's future products and services.

Beroni has a drug development pipeline focusing on oncology and immunotherapy. It is moving ahead with the Phase II clinical trial of the anti-cancer molecular drug, PENAO later this year and is scheduled to commence the clinical trials for a few cellular therapies including gamma delta T cell, DC vaccine, and protein modifier R8. It is also currently studying the use of single-domain antibodies for treatment of coronavirus diseases.

“Establishing a new R&D centre in Zhuhai will allow us to expand our R&D capabilities and accelerate our innovative pipeline,” said CEO Jacky Zhang. “In the future, we plan to establish additional R&D centres around the world to advance the discovery and development of new innovative product candidates.”

The Zhuhai National High-Tech Industrial Development Zone Valley, established in 1992, is one of the top biotech hubs in China and is home to hundreds of innovative biotechnology and biopharmaceutical companies. It covers an area of 139 square kilometres and boasts a convenient transportation network with the Beijing-Zhuhai Expressway, Western Guangdong Coastal Expressway and Guangzhou-Zhuhai Intercity MRT passing through the area.

About Beroni Group Limited

Beroni Group is an international biopharmaceutical enterprise dedicated to the innovation and commercialization of drugs and therapies to combat various global diseases such as cancer and infectious diseases. Its diversified portfolio is comprised of FDA/CE approved virus diagnostic kits, an e-commerce platform for the sale of pharmaceutical products and a development pipeline targeting oncology and cell therapies. Beroni has operations in Australia, United States, China and Japan. It is listed on the National Stock Exchange of Australia and traded on the OTC markets in the USA. To learn more about Beroni, please visit www.beronigroup.com.

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements or forward-looking information, within the meaning of applicable United States and Australian securities laws with respect to the Company. By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “intend”, “believe”, “potential” and similar expressions.

Forward-looking information contained in this press release is based on Company management’s opinions, estimates and assumptions in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances. Forward-looking statements involve significant risks, uncertainties and assumptions, and there can be no assurance that such statements, or its underlying risks, uncertainties and assumptions will prove to be accurate. Factors that could cause actual results or events to differ materially include, without limitation, risks related to laws, rules and regulation applicable to the Company as well as the industry in which it operates (including in respect of taxes and other levies), economic or market conditions on both a national and global level, currency fluctuations, risks inherent to other entities at a similar stage of development and industry in which the Company currently is, competition from the Company’s competitors, unsatisfactory development or marketing of the Company and/or its products or services, regulatory action or litigation (including product liability claims), and failure to enter into agreements or arrangements with other parties on fair or reasonable terms. Forward-looking information is made only as of the date on which it is provided and, except as may be required by applicable laws, the Company disclaims any intent or obligation to update such forward-looking information whether as a result of new information, future events or otherwise.

For more information, please contact our IR consultants at:

Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: BNIGF@dgipl.com

FAQ

What is Beroni Group's recent announcement regarding R&D?

Beroni Group announced plans to establish its first R&D center in Zhuhai, China, focusing on drug development and clinical trials.

How much is Beroni investing in its new R&D center?

Beroni is committing US$10 million to support the clinical trials at the new R&D facility.

When is Beroni's new R&D center expected to open?

The R&D center is expected to be fully operational in the second half of 2022.

What areas will Beroni focus on in its R&D initiatives?

Beroni will concentrate on oncology and immunotherapy in its drug development pipeline.

What is the size of Beroni's new R&D facility?

The new R&D center will occupy about 4,000 square meters (44,000 square feet).