TCG Portfolio Company, Magceutics Inc., Finishes Remarkable 2011
TCG Press Release
January 10, 2012
LOS ANGELES - Transworld Capital Group (TCG) is pleased to report that Magceutics, Inc., a TCG portfolio company, has concluded a watershed 2011 year. Most notably, the company celebrated the highly successful launch of Magtein™ as a dietary supplement in the United States. Made in conjunction with Magceutics' exclusive supplier, AIDP Inc., the launch resulted in several million dollars in retail sales in only the first four months, exceeding initial estimates greatly. This strong performance generated Magceutics' first revenues from licensing royalties, and demonstrated substantial demand in the marketplace prior to human clinical trials, which are planned for early 2012.
Based in Hayward, California, Magceutics has developed a revolutionary solution to memory loss and Alzheimer's Disease originally discovered by renowned neuroscientist Dr. Guosong Liu at both MIT and Tsinghua University. The product, known as Magtein™ (magnesium l-threonate), has been shown in extensive animal studies to prevent and even reverse memory loss and cognitive decline associated with Alzheimer's Disease.
Among Magceutics' additional achievements in 2011, the company raised its first round of equity financing, secured an exclusive supplier and limited channel licensing agreement with AIDP, obtained a favorable GRAS (Generally Recognized As Safe) certification from an AIBMR expert review panel, and published a new article in the Journal of Neuroscience on the affects of elevated brain magnesium on fear memories and anxiety disorders such as PTSD.
“2011 was certainly a breakthrough year for Magceutics,” said Jack Chen, CEO of Transworld Capital Group. He continued: “We see a very bright future for Magtein™ as evidenced by such strong results at just beginning of the product's launch. We expect sales to increase by roughly ten times in 2012.”
Magceutics is a biopharmaceutical company engaged in developing products for improving human memory and learning, and for the treatment of cognitive declines associated with aging, mild cognitive impairment (MCI) and Alzheimer's Disease (AD). The Company's technology is based on the groundbreaking research of Professor Guosong Liu, initiated while he was at the Massachusetts Institute of Technology (MIT). Based on his work in understanding basic neural mechanisms of synaptic density underlying learning and memory, Magceutics was founded to design and develop products for the treatment of memory associated disorders. The Company has identified a proprietary compound, magnesium l-threonate, that is safe and, as demonstrated by extensive preclinical testing, is highly effective in improving memory functions of healthy rats, aging rats and transgenic AD mice. For more information, please visit www.magceutics.com.
About Transworld Capital Group
Transworld Capital Group is a financial advisory and investment firm specializing in cross border transactions between the Western World and Greater China. The company advises both on M&A and capital-raising transactions as well as partnerships to help businesses access the China market. More information can be found at www.transworldgroups.com.