MegaPro, Outstanding performance from MegaPro Biomedical, the contrast agent has received approval by FDA for Phase II of clinical trial

The MPB-1523 MRI contrast agent developed by “MegaPro Biomedical”, a start-up from ITRI, showed rapid progress. Despite having established for only 3 years, MegaPro Biomedical obtained the approval from the US Food and Drug Administration (FDA) to conduct Phase II of the clinical trial for its contrast agent. The contrast agent has passed the Investigational New Drug application and MegaPro Biomedical will first evaluate the effectiveness of the contrast agent in liver cancer patients. The company expects to complete this clinical evaluation within 2 years. MRI imaging technology has been gaining popularity in diagnostic and medical imaging and has been rapidly growing recently. In order to increase the image contrast clinically, a contrast agent is often used to increase image resolution. This enables observation of subtle anatomical changes, hence detecting small lesion. The research report has pointed out that the global medical contrast agent market is expected to increase till 5.2 billion USD by 2020 at a compound annual growth rate (CAGR) of 4.2%, and the MRI contrast agent accounts for 15-20% of the medical contrast agents.