The Corporation through its wholly owned subsidiary Medwell Healthcare investments LP has invested primarily although not exclusively in the healthcare sector. The two largest investments are currently Spectral Diagnostics Inc. and Mimetogen Pharmaceuticals Inc.
Spectral Diagnostics Inc.
Medwell has invested approximately $23.8 million in Spectral since 2010, and in 2011 distributed 54 million Spectral shares out to the Medwell shareholders.
Medwell currently owns approximately 15.2 million common shares of Spectral, representing 13.4% of the issued and outstanding shares. It also owns approximately 15.2 million warrants, representing 21% on a fully diluted basis.
Sepsis affects approximately 750,000 patients in the U.S. alone each year and millions worldwide. The represents a very large market opportunity, with no approved products on the market for the treatment of severe sepsis in the US.For further information
Please visit the corporate website http://www.spectraldx.com/
Mimetogen Pharaceuticals Inc.
Medwell has invested $2,000,000 and owns approximately 12.4 % of Mimetogen Pharmaceuticals Inc. (“Mimetogen”), a privately-held, clinical-stage company developing a treatment for dry eye disease.
Phase II Clinical Trial of MIM-D3 for Dry Eye Disease
Mimetogen’s lead drug candidate for the treatment of dry eye disease, MIM-D3, is a small molecule mimetic of nerve growth factor (NGF). NGF is a naturally occurring protein in the eyes that is responsible for the maintenance of corneal nerves and epithelium, mucin and tear production. In contrast to most other products in development or on the market, MIM-D3 is designed to quickly and directly improve the quality of the tears produced by the eyes whilst reducing symptoms of chronic burning and stinging. Dry eye disease is estimated to be a large US market with a potential for > $1 billion US sales alone for which there is currently only one FDA-approved treatment.
Mimetogen presented positive results from its Phase II ramdomized clinical trial with its lead drug MIM-D3 at the Annual Meeting of the Association for Research in Vision and Ophthalmology (ARVO) in May 2012.
About Dry Eye Disease
Dry eye disease is one of the most common ophthalmic problems, with an estimated 30 million people in North-America suffering from it and a worldwide prevalence closely paralleling that of the United States. Dry eye is a chronic multifactorial disease of the tears, the ocular surface and the adjacent neurological tissue that results in symptoms of discomfort, visual disturbance and tear film instability that may lead to permanent damage and scars to the ocular surface.
About Mimetogen Pharmaceuticals
Mimetogen Pharmaceuticals, Inc. began operations in 2006, developing the use of peptidomimetics as novel approaches to treat diseases with high unmet medical needs. The underlying technology has been developed at McGill University and the Lady Davis Institute for Medical Research in Montréal.
Please visit the corporate website at http://www.mimetogen.com/