The firm wants to release three to five new Entity products every year to its current 11-strong range, with functions ranging from energy, immunity, blood sugar, brain and sleep.
Revealing in its annual report, the firm is currently working on several therapeutic areas including anxiety for people with hectic lifestyles, sleep supplements for insomnia, as well as a product for relief of eczema and psoriasis, using its WaferiX technology.
The WaferiX delivery technology consist of a small wafer prepared by freeze-drying and contains tiny amorphous holes to house the active molecules. The wafer is intended to be placed under the tongue, which subsequently dissolves within one minute, releasing the active compounds for rapid absorption into the blood stream.
This administration allows faster delivery and reduction in loss of actives due to hepatic and gastrointestinal metabolism, hence improving their bioavailability.
Eva Tan, director of corporate and commercial strategy at iX Biopharma, said this technology wss not only a superior delivery system, but can also extend the life cycle of off-patent products and drugs.
Currently, two of Entity’s products are made using this delivery technology. They are LumeniX, a beauty and immunity supplement, and WafeRest, a sleep supplement.
Besides supplements, iX Biopharma utilises the same delivery technology for its pharmaceutical drugs such as Wafesil, a treatment of male erectile dysfunction and Wafermine, a pain treatment drug.
Entity is focused on building its brand as an-made health supplements to drive awareness within other markets in Asia-Pacific.
One such market is China. This April, Entity debuted in China with flagship stores on Tmall Global and JD Worldwide, with LumeniX and a healthy ageing supplement RestoriX.
Tan told us both supplements were so well-received by Chinese consumers, that they were sold out within three weeks.
She added: “We observed that the Chinese consumers are purchasing LumeniX not only because it is a novel beauty product, but they are also responding to LumeniX’s ability to boost the body’s immune system.”
Yuwan Hu, research director at Daxue Consulting, a Chinese market research firm told us consumers in China typically look for supplements with immunity, anti-ageing and whitening functions, which may explain Entity’s sales.
Tan said Entity was currently focusing on cross border e-commerce to test and distribute its products in China.
“The cross-border channel paves a new way for Entity to test the China market without significant investment into regulatory approvals for our supplements.”
“Through cross-border e-commerce, we are also able to access sophisticated Chinese consumers who increasingly shop for quality products from all over the world, products to which they otherwise lack access.” China is one of the largest retail markets in the world with an estimated 710 million online Chinese shoppers.
“We are delighted by the quick take-up of LumeniX and RestoriX, which reflects the strong demand by Chinese consumers for innovative, functional nutraceuticals that characterise the Entity line of products,” Tan said.
Entity is currently evaluating the potential to expand onto other platforms and hopes to bring other supplements into China soon, especially products formulated using WaferiX.
In a recent official statement by iX Biopharma, the firm reported delaying the expansion of its wafer production capacity at its manufacturing facility in Australia.
“Due to the extended border closure, the equipment supplier, a manufacturer from China, has had to postpone its trip to the Group’s facility to provide support for installation and training,” the firm reported.