SP is one of the most active corporate law firms, advising Australian public and private companies in the area of capital markets, mergers and acquisitions, corporate compliance, mining and resources, technology, biotechnology and life sciences.

OBM has engaged SP to assist the company for reviewing the current corporate structure and status, advising the legal requirement for capital raising and preparing for IPO.  It is OBM’s plan to explore the opportunities to become a public-listed company on the Australian Stock Exchange (ASX) to accelerate the development of OBM’s leading projects to provide eye disease-related patients and society with advanced and favourable ways of treatment.

ACRO Biomedical’s Chairman & CEO Dr Hsieh (left) & OBM’s CSO Dr Jiang (right) met for business discussion at 2025 BioAsia Taiwan Conference.

ACRO Biomedical’s Chairman & CEO Dr Hsieh (middle right) & CT Group Chairman Tran Kim Chung (middle left) sign a licensing deal during the 2025 BioAsia Taiwan Conference.

Bio-Asia Taiwan Conference is the Asia’s largest biotech conference and networking event.  OBM again attended this event and its CSO, Dr Jiang, was invited to the section, Australia-Taiwan Clinical Trials Forum on 23^rd July2025 chaired by Australian Office in Taiwan, MTP Connect, BPIPO and Taiwan BioIndustry Organization.  Dr Jiang met with Dr Hsieh, the Chairman & CEO of ACRO Biomedical CO., Inc. (“ACRO”), at the conference and discussed how to further strengthen the partnership between two companies.

During the conference, OBM’s partner, ACRO Biomedical CO., Inc. also held a press conference on 24^th July 2025 and announced that ACRO has signed a licensing deal with Vietnam’s CT Group for the market rights in 10 ASEAN countries for its biocompatible artificial cornea product.  Established in Ho Chi Minh City in 1992, CT Group is one of the Vietnam’s leading technology and innovation corporations which was.  This is a second such agreement followed by the similar one previously signed with OBM for Australian market and other territories.

Professor Mark Daniell is an ophthalmic surgeon and is working to develop a tissue-engineered cornea. He leads the corneal research team at the Centre Eye Research Australia (CERA) as the Head of Corneal Research.  He is also a senior consultant at Royal Victorian Eye and Ear Hospital, serving as Head of the Corneal Service since 2011, and overseeing a team of surgeons performing corneal transplantation for Victoria.

Professor Mark Daniell is the Founding Chair of the ANZ Corneal Society and Medical Director of the Lions Eye Bank.  He is the former President of RANZCO (2017-2018), the Royal Australian and New Zealand College of Ophthalmologists, and served on the RANZCO board for 12 years, with roles including Vice President and Treasurer. He was Chair of the Ophthalmic Research Institute of Australia from 2005 to 2011. He is President of the World Ophthalmology Congress in 2022.

Professor Mark Daniell has participated various research projects, including development of a tissue-engineered cornea, investigation of the cellular basis of corneal graft rejection and a principal investigator of an international phase 3 clinical trial on a drug candidate in patients with pterygium, a non-cancerous, fleshy growth of tissue on the eye’s surface that starts at the clear part of the white of the eye (conjunctiva) and can grow onto the cornea.

Our strategic partner and major shareholder, ACRO Biomedical Co., Ltd., a public listed company on Taiwan Stock Exchange and one of the Taiwan’s leading biomedical companies, receives the approval for its biocompatible artificial cornea, ABCcolla Collagen Ophthalmic Matrix, from Taiwan’s Ministry of Health and Welfare (MOHW), with registration number MOHW Medical Device No. 008155 (Picture). Following years of rigorous clinical trials, this collagen ophthalmic matrix is now approved for use in corneal reconstruction procedures, benefiting patients suffering from corneal melting, trauma, infections, and other severe corneal injuries. It can be used as a corneal graft substitute in a variety of transplant and reconstruction surgeries.

According to the World Health Organization (WHO), over 20 million people worldwide suffer from corneal blindness due to injury or infection. However, only about 100,000 corneal transplants are performed annually, leaving a massive gap between supply and demand. A report from Global Market Insights, Inc. estimates that the global corneal transplant market will reach $500 million in 2024, with a projected growth to $1 billion by 2033, driven by a 7.59% compound annual growth rate (CAGR) from 2025 to 2033.

This novel biocompatible artificial cornea provides a safe and effective alternative to common human donor corneas.  Though the number of donor corneas may be sufficient for the need by patients in most of the developed countries, it is required to consider and better prepare for any possible sudden abruption of donation by unexpected incident, such as the COVID-19 outbreak.

OBM owns the market rights of a certain territories, including Australia, for ACRO’s biocompatible artificial cornea product.  This approval in Taiwan paves a road for OBM to seek approvals from its licensed territories by properly completing the required regulatory steps and enable OBM to become a clinical-stage biopharma company with commercial product in sight.