MassMEDIC Scores First Member from China

CANbridge Life Sciences, Inc. Joins the MedTech Group

BOSTON, MASS. – March 30, 2015 – The Massachusetts Medical Device Industry Council (MassMEDIC) announced today that CANbridge Life Sciences, Inc. will be the first Chinese company to join the group, highlighting the key role played by the state’s medical device industry in the global market.

CANbridge is a Beijing-based biopharma company accelerating the development and commercialization of Western pharmaceuticals, devices or diagnostic products in China and North Asia. CANbridge’s lead product is ATI-1123, a liposomal formulation of docetaxel to treat non-small-cell lung cancer. The product is expected to start Phase II testing in the U.S. this year. The start-up is also working to gain registration approval in China of Caphosol®, an oral rinse for the treatment of mucositis caused by cancer treatments, which is considered a medical device.

“CANbridge is, literally, about building bridges between promising Western medical technologies and underserved Asian markets,” said James Xue, founder and CEO of CANbridge. “We are delighted to be the first Chinese company invited to join MassMEDIC. As a former Genzyme executive, Boston holds a particular significance for me as well,” Xue added.

“MassMEDIC is excited to welcome a start-up Chinese medtech company with roots here in Massachusetts,” said Thomas J. Sommer, president of MassMEDIC. “Massachusetts is home to about 400 medical device companies that directly support about 24,000 workers. Medical devices are also the state’s top export, so it’s no surprise that companies from across the globe are interested in Massachusetts’ medical device industry.”

CANbridge joins 330 manufacturers, suppliers, research institutions, and academic health centers that make up MassMEDIC’s membership.

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About MassMEDIC:

The Massachusetts Medical Device Industry Council, an organization of 330 manufacturers, suppliers, research institutions, and academic health centers, promotes the unique interests of the Bay State’s growing and vibrant medical device sector. Through a variety of programs, informational seminars, advocacy campaigns and other projects, MassMEDIC provides medical device manufacturers and suppliers with information on industry trends and regulatory policies, and creates forums that allow members to exchange ideas and information on issues affecting the industry. For more information on MassMEDIC, please contact us at (617) 414-1340, or visit our web site at www.massmedic.com.