The potential development program reflects PharmaEssentia’s efforts to diversify its current expertise and expand its pipeline with a new solid tumor mechanism
WuXi Biologics Headquarters. (Credit: Chinaman88 from Wikimedia Commons)
PharmaEssentia Corporation, (TPEx:6446), a global biopharmaceutical innovator headquartered in Taiwan leveraging deep expertise and proven scientific principles to deliver new biologics in hematology and oncology, today announced it has entered into a license agreement with WuXi Biologics Ireland Limited to obtain the global exclusive rights to research, develop, manufacture and commercialize a myeloid immune checkpoint antibody candidate. PharmaEssentia will take over responsibility for the subsequent preclinical and clinical development efforts.
“We are excited to expand our pipeline, which reflects our dedication to growing our research capabilities and delivering transformative healthcare solutions,” said Ko-Chung Lin, Ph.D., Founder and Chief Executive Officer, PharmaEssentia. “Entering into this agreement with WuXi Biologics perfectly aligns with our commitment to accelerate priority development programs across oncology, hematology and immunology. We’re poised to pioneer breakthrough therapies and bring renewed hope to patients worldwide.”
“PharmaEssentia’s mission is to create best-in-class or first-in-class therapies by expanding our expertise to new drug modalities where we can have the greatest impact on patient lives,” said Lih-Ling Lin, Ph.D., Chief Scientific Officer, PharmaEssentia. “As one of the first programs that will be advanced by our global research and business development team, we are eager to apply our deep biopharmaceutical capabilities to better understand the clinical potential of this novel approach. We are committed to working urgently to advance this candidate, which has the potential to apply a new scientific breakthrough to create a treatment that helps alleviate the incredible medical burdens faced by patients living with solid tumors.”
As part of the agreement, PharmaEssentia will pay license fees to WuXi Biologics, including an upfront payment upon signing, future research, development, regulatory and sales milestones payments, and sales royalties.
Source: Company Press Release