Yahoo Finance Alphamab Oncology Collaborated with ArriVent in relation to the Research, Development and Commercialization of ADC Products
SUZHOU, China, June 6, 2024 /PRNewswire/ -- Alphamab Oncology (stock code: 9966.HK) announced that Jiangsu Alphamab Biopharmaceuticals Co., Ltd. ("Alphamab"), a wholly-owned subsidiary of the Company, entered into a research and collaboration agreement (the "Collaboration Agreement") with ArriVent BioPharma, Inc., the shares of which are listed on the Nasdaq Global Market (ticker symbol: AVBP) ("ArriVent"), pursuant to which, Alphamab and ArriVent will collaborate to use Alphamab's proprietary linker-payload (Alphatecan) and glycan-conjugation platforms to discover and develop novel antibody drug conjugates ("ADC").
Alphamab will retain the rights to develop and commercialize the related ADC products under the Collaboration Agreement, in mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region and Taiwan Region (collectively, the "Greater China Region"). ArriVent will have exclusive rights to develop and commercialize the ADC products in the field of oncology in countries and regions outside of the Greater China Region and will be responsible for and bear the cost of the corresponding development of the ADC products.
According to the Collaboration Agreement, Alphamab is entitled to receive a one-time, non-refundable upfront payment and potential milestone payments based on the achievement of certain regulatory, development, and sales milestones of up to US$615.5 million in aggregate for the programs. In addition, Alphamab is also entitled to receive tiered sales royalties from ArriVent for each ADC product.
Dr. Ting Xu, Chairman, and CEO of Alphamab Oncology, remarked, "ArriVent shares our passion for developing differentiated, clinically valuable, and globally competitive new drugs. This collaboration, based on Alphamab's proprietary and clinically validated glycan-conjugation platform, combined with ArriVent's deep knowledge in oncology and extensive development experience, provides us with the opportunity to work together to deliver important new oncology therapeutics to patients."
Bing Yao, Chairman and Chief Executive Officer of ArriVent, remarked, "This exciting collaboration strengthens and complements our pipeline with the potential to add multiple innovative new ADC programs and exemplifies our strategic model of identifying and developing potential first-and best-in-class product candidates from across the globe. We look forward to complementing the research and discovery capabilities of Alphamab with our global drug development and commercialization expertise to address the unmet needs of cancer patients."
About ArriVent
ArriVent is a clinical-stage biopharmaceutical company dedicated to the identification, development, and commercialization of differentiated medicines to address the unmet medical needs of patients with cancers. ArriVent seeks to utilize its team's deep drug development experience to maximize the potential of its lead development candidate, firmonertinib, and advance a pipeline of novel therapeutics, such as next-generation antibody drug conjugates, through approval and commercialization.
About Alphamab Oncology
Alphamab Oncology is a leading biopharmaceutical company committed to the discovery, development, manufacturing, and commercialization of cutting-edge biotherapeutics for the treatment of cancer. On December 12, 2019, the company was successfully listed on the Main Board of the Hong Kong Stock Exchange, trading under the stock code 9966.
Our integrated platform seamlessly combines research, development, and manufacturing capabilities for biologics. We take pride in our extensive intellectual property portfolio, encompassing protein/antibody engineering, antibody screening, and multi-module/multi-functional antibody modification.
Distinguished by a globally competitive pipeline, Alphamab Oncology specializes in antibody-drug conjugation, single domain antibody/monoclonal antibodies, and multi-functional antibodies. Notably, Envafolimab, the world's first subcutaneously injectable PD-L1 inhibitor, received approval from Chinese authorities in 2021, offering widespread accessibility to cancer patients. Three additional products are currently in the advanced stages of clinical development, with KN026 having earned Breakthrough Designation from the China National Medical Products Administration. Furthermore, we have cultivated a series of early-stage assets, including two in Phase I development.
Our overarching mission is to enhance the manageability and curability of cancer by addressing unmet medical needs in oncology. Alphamab Oncology is dedicated to the development of safe and affordable drugs, leveraging a global competitive edge.
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SOURCE Alphamab Oncology
