3SBio Inc. (NSDQ: SSRX) (??????) has formed a strategic alliance with Ascentage Pharma Group Corporation, Ltd., a Shanghai-based company developing new chemical entities. The alliance will research, develop and commercialize best-in-class targeted cancer therapeutics focusing on programmed cell death, or apoptosis.
Ascentage Pharma brings to the new alliance an expertise in structure-based small molecule design, lead optimization and preclinical development, while 3SBio contributes its drug development and commercialization capabilities.
3SBio will make a $3 million equity investment in Ascentage to fund its drug development program. 3SBio will have exclusive China rights to market any drugs that are developed by the alliance, while Ascentage retains commercialization rights for the rest of the world. 3SBio will make milestone and royalty payments on any drug candidates.
Ascentage Pharma was formed in the summer of 2009 from Ascenta (Shanghai) R&D Center, the pre-clinical facility for Ascenta Therapeutics of Malvern, Pennsylvania. Ascenta also focuses on apoptosis cancer drugs. Both are based on IP that was licensed from the University of Michigan. The China subsidiary, Ascenta (Shanghai), was established in 2005.
The cancer initiative is a new direction for 3SBio, which has traditionally concentrated on the dialysis market. Its flagship drugs are EPIAO and TPIAO, two recombinant treatments for anemia. The company has in-licensed several drugs for other conditions experienced by dialysis patients, as it works on developing improved versions of its anemia drugs.
Earlier this week, 3SBio announced it had purchased the China rights to a phosphate binder, Nephoxil®, from Panacor Bioscience of Taiwan. It has also applied to the SFDA for permission to conduct a registrational trial for Feraheme™ (ferumoxytol) Injection, an IV treatment for iron deficiency anemia developed by AMAG Pharma (NSDQ: AMAG). On Friday, 3SBio also announced it has filed an application with the SFDA to begin clinical trials of NuPIAO, a new anemia drug. NuPIAO is a highly glycosylated ESA (erythropoiesis-stimulating agent) that requires only once-per-week dosing.
"The collaboration with Ascentage Pharma represents a key strategic initiative for 3SBio to develop our pipeline in the area of cancer therapeutics," said Dr. Jing Lou, CEO of 3SBio. "This investment allows 3SBio to gain access to the best external science and small molecule drug discovery platform in China."
"Apoptosis targeted small molecule has the potential to play a key role in the next generation of highly effective targeted cancer drugs," said Dr. Dajun Yang, CEO of Ascentage Pharma. "We believe that this 'win-win' collaboration will generate innovative medicines that benefits patients worldwide."
See our other articles on 3SBio.
Disclosure: none.
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