Bened Biomedical Co., Ltd., a Taiwan-based probiotics company, has created a novel psychobiotic that is scientifically proven to raise dopamine and serotonin levels in the brain which could significantly change the way mental illness patients are treated in Mexico.
The company has entered into an exclusive licensing agreement with M8 Pharmaceuticals to market patented PS128™, in Latin American countries, according to a statement released by M8 Pharmaceuticals.
"Our goal is to continue to raise the standards of mental health care, and we continue to be committed to bringing innovative product to Latin American patients," Joel Barlan, CEO of M8, said in a statement. "We are well aware of the unmet needs in this area, and our mission is to continue to positively impact the lives and improve the mental health of patients in Brazil and Mexico."
PS128™ consists of distinct Lactobacillus plantarum strain will be used to treat mental and neurological disorders and reduce symptoms of Parkinson's syndrome, autism and depression.
"Combining the market power and reputation of M8 with the efficacy of psychobiotic PS128™, which is already proven in more than 30 countries, we trust that the partnership will effectively benefit the people in the regions," Frankie Cheng, CEO of Bened Biomedical, said in a statement.
Mexico and Brazil account for 63% of Latin America's pharmaceutical market, according to M8 Pharmaceuticals and CNS Therapeutics is a dominating force in the pharmaceutical industry with $5.3 billion in revenues in 2019, according to M8 Pharmaceuticals.
"The international team led by Alain Delpy, head of international business development, will continue to assist M8 to fully develop the CNS market," Cheng said.
Bened Biomedical Co., Ltd. uses advanced technologies to create microbiome-based therapies for immunological, metabolic, neuropsychological and aging-related health disorders and M8 Pharmaceuticals handles licensing, marketing and distribution of therapeutics in Mexico and Brazil.
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