– Huadong Medicine is granted from AKSO Biopharmaceutical an exclusive right to develop and commercialize AB002 in the Asia Pacific Ex-Japan region for solid tumors; AKSO Biopharmaceutical to receive up to 75 million USD upfront, R&D funding, potential regulatory and commercial milestone payments
– Strategic partnership accelerates AB002�s development as a first-in-class and potentially first-to-market novel molecule
– Enables AKSO to access a critical and attractive market via Huadong Medicine�s expertise and networks while augmenting Huadong Medicine�s portfolio of innovative drug candidates
LOS ANGELES & LONDON & HANGZHOU, China–(BUSINESS WIRE)–AKSO Biopharmaceutical, Inc. (�AKSO�), a global biopharmaceutical company with an innovative and comprehensive approach to treat cancer, autoimmune disease, and genetic disorder, and Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd., a wholly-owned subsidiary of Huadong Medicine Co., Ltd. (SZ.000963) (�Huadong Medicine�), a leading pharmaceutical company in Asia, today announced that the companies have entered into an exclusive collaboration to develop and commercialize AB002, a bi-functional fusion protein inhibiting immune checkpoint and activating natural killer (NK) cells for the treatment of solid tumors, in the Asia Pacific Ex-Japan region. AKSO will retain all rights to AB002 in the rest of the world.
This strategic collaboration enables AKSO to leverage Huadong Medicine�s leading expertise in clinical development, regulatory approval, and commercialization to access the second largest pharmaceutical market in the world, while augmenting Huadong Medicine�s portfolio of first-in-class innovative drug candidates and further cementing Huadong Medicine�s leadership position in the region.
�The strategic collaboration is an important milestone for AB002 as Huadong Medicine�s expertise and experience in drug development, and mature clinical and sales network will enable us to become the first to market in the critical region,� said Amato Giaccia, Ph.D., Senior Scientific Strategist and Chairman of AKSO. �AB002 is a first-in-class molecule that leverages AKSO�s proprietary DEEP platform to neutralize PD-L2 and PD-L1, while activating NK cells via an IL-15 agonist. This unique approach addresses the immune-suppressive environment frequently found in patients not responding to immune checkpoint inhibitors. Furthermore, AB002�s precision cell targeting ability promotes NK cell activation in the tumor microenvironment. We are excited to partner with Huadong Medicine to accelerate AB002�s development and deliver this innovative therapeutic to patients with unmet urgent needs.�
�AKSO Biopharmaceutical is a promising biopharmaceutical company innovating to treat cancer. AB002, which is a dual-target bi-specific fusion protein, represents the addition of an exciting cancer immunotherapy asset to Huadong Medicine�s increasing cancer therapy pipeline,� stated Dongzhou J. Liu, Ph.D., Chief Scientific Officer of Huadong Medicine. �The cancer patient population is substantial in China, with unmet medical needs. Leveraging Huadong Medicine�s R&D capabilities, we will work closely with AKSO Biopharmaceutical to accelerate the development of AB002 to benefit the cancer patients all over the world.�
Under the terms of the agreement, AKSO will be eligible to receive upfront and milestone payments of up to $75 million, as well as royalties from future product sales. Huadong Medicine will be responsible for clinical development, regulatory submissions and commercialization of AB002 in the region and jointly steer IND-enabling tasks with AKSO via the Joint Research Committee. AKSO will continue to be responsible for AB002�s development in the rest of the world.
AKSO is advised by Dragon Financial Partners Ltd. as financial advisor and Morrison Forrester LLP as legal counsel.
ABOUT AB002
AB002 is a late preclinical stage first-in-class bifunctional fusion protein comprising of a DEEP-engineered soluble PD-1 decoy receptor for immune checkpoint inhibition, and an IL-15 agonist for NK cell activation. AB002 traps PD-L2 and PD-L1 with ultra-high binding affinities, while activating NK cells with high precision and extended half-life.
ABOUT AKSO
AKSO Biopharmaceutical, Inc., is a late preclinical stage global biopharmaceutical company focused on the discovery and development of first-in-class therapeutics for the treatment of cancer, autoimmune diseases, and genetic disorder. Leveraging the proprietary DEEP engineering platform and deep knowledge in disease biology, AKSO has developed a portfolio of innovative drug candidates covering a wide range of modalities including decoy receptors, bispecific fusion proteins, antibody-drug conjugates, and precision gene editing therapies. For additional information, please visit www.aksobio.com.
ABOUT HUADONG MEDICINE
Huadong Medicine Co., Ltd. (SZ.000963) is a leading Chinese pharmaceutical company headquartered in Hangzhou, China. Founded in 1993, Huadong Medicine has fully integrated R&D, manufacturing, distribution, sales and marketing capabilities. Huadong Medicine�s product portfolio and pipeline are specialized in oncology, immunology, nephrology and diabetes. The Company�s annual revenue in 2020 exceeded 5 billion USD. Huadong Medicine has 11,000 employees among which 1,200 are dedicated to R&D. Huadong Medicine possesses one of the most extensive commercial coverage and marketing capabilities in China. �Patient Centered, Science Driven� is Huadong Medicine�s value. For additional information, please visit www.eastchinapharm.com/en.
Contacts
INVESTOR RELATIONS AND MEDIA CONTACTS
AKSO Biopharmaceutical, Inc.
Rebecca Miao
[email protected]
Huadong Medicine
+86 571 8990 3300
[email protected]
