Sino Biopharma receives exclusive rights to develop and commercialize two Ambrx enabled drug products in China
Ambrx receives upfront payment plus undisclosed milestone payments and royalties
SAN DIEGO and BEIJING, Jan. 13, 2020 /PRNewswire/ — Ambrx Inc., a clinical-stage biopharmaceutical company focused on the development of next generation biologics using an expanded genetic code and Sino Biopharmaceutical Limited (1177.HK), a leading Chinese pharmaceutical company with a large number of medical products covering multiple therapeutic areas, announced a joint collaboration to develop two products enabled by Ambrx’s unique non-natural amino acid incorporation technology platforms.
Under the agreement, Ambrx received an upfront payment to create two innovative drug candidates, with Sino Biopharma then leading IND enabling activities for both China and the US. The parties will jointly develop the programs to world-class standards with Sino Biopharma commercializing the products within the greater China area and Ambrx commercializing the products rest-of-world. Ambrx is eligible to receive additional milestone payments for development, regulatory, and sales-based events, as well as tiered royalties on future sales.
“We are delighted to join forces with Ambrx, a leader in precision engineered biologics and breakthrough protein therapeutics, to develop two next generation cancer drugs,” commented Stephen Hsin Tse, Executive Director of Sino Biopharma. “This collaboration helps fulfill our strong commitment to develop and commercialize innovative biological drugs for the China market.”
The collaboration combines Ambrx’s clinically validated ReCODE™ and EuCODE™ platforms with Sino Biopharma’s strong resources and commitment to bring next-generation biologic drugs to market.
“Sino Biopharma is a large, unique and fast-growing powerhouse in the Chinese pharmaceutical industry, combining strong drug development expertise with substantial commercial resources and infrastructure. We are delighted to collaborate with Sino Biopharma as we continue to push the boundaries of next generation biologics with our proprietary technologies,” said Feng Tian, Ph.D., President and CEO of Ambrx. “We are very excited about the future of these two novel first-in-class and best-in-class drug candidates and look forward to working with Sino Biopharma to unleash the therapeutic potential of those drug candidates.”
About Sino Biopharmaceutical Limited (1177.HK)
Sino Biopharmaceutical Limited was listed on the Main Board of the Stock Exchange of Hong Kong in 2003 and included as a constituent stock of the Hang Seng Index in 2018. Based on its sales in 2018, Sino Biopharma was ranked in July 2019 as one of the top 50 pharmaceutical companies in the world by Pharmaceutical Executive Magazine. Sino Biopharma principally engages in the research and development as well as the manufacture and sales of pharmaceutical products. It is particularly recognized for a range of medicines for treating liver diseases, tumors, cardio-cerebral diseases, analgesia, respiratory system diseases and orthopedic diseases. For additional information, visit www.sinobiopharm.com.
Ambrx Inc. is a clinical stage biopharmaceutical company using an expanded genetic code to create best-in-class biotherapeutics, including antibody drug conjugates (ADCs), targeted immunomodulators, bispecific antibodies and other novel biologics with improved pharmacologic properties or novel biological activity. Leveraging the Ambrx proprietary technology platforms, Ambrx has collaborations with Bristol-Myers Squibb, Astellas, BeiGene, Elanco and ZMC, with drug products generated using Ambrx technology in different stages of clinical trials. Ambrx is advancing a robust portfolio of product candidates that are optimized for efficacy, safety and ease of use in multiple therapeutic areas. For additional information, visit www.ambrx.com.
SOURCE Ambrx Inc.