Sector News

Abpro teams up with China’s NJCTTQ in biobucks deal worth up to $4B

February 28, 2019
Life sciences

Get involved in the discussion! Click here to comment on this story

Abpro is partnering with China-based NJCTTQ to develop new bispecific antibodies using its antibody discovery platform. Under the agreement, Abpro could collect up to $4 billion, which includes $60 million in “near-term R&D funding,” as well as milestone payments and royalties.

Abpro will hold on to the rights for any drugs approved outside of China and Thailand, and NJCTTQ will retain the rights in China, Abpro said in a statement. The pair will use Abpro’s DiversImmune technology, one of two platforms the Massachusetts-based company uses to develop drug candidates. The company was vague about the targets of the collaboration, saying only that they would develop bispecific antibodies, such as T-cell engagers, for immuno-oncology.

“This collaboration further validates our platform’s unique ability to develop best-in-class bispecific T-cell engagers, with significant potential to treat patients living with cancer,” said Ian Chan, Abpro’s co-founder and executive chairman, in the statement. “NJCTTQ has substantial clinical development and commercialization expertise that is highly complementary to our immuno-oncology development platforms as we focus on broadening our pipeline and expanding our ability to treat more patients globally.”

“We intend to pursue additional similar development collaborations that leverage our innovative technology platforms and programs that include commercial rights in key global markets,” Chan added.

This isn’t the first time Abpro has tied up with a Chinese company. In 2016, Abpro signed a $3.5 million deal with Chinese biotech Essex Bio to co-develop monoclonal antibodies. Essex Bio, which specializes in recombinant DNA technology, would retain commercial rights in China, while Abpro would hold them for the rest of the world.

Abpro filed to raise up to $86 million in an IPO last April, hoping the proceeds would fund clinical trials of its lead antibodies for cancer and vascular eye disease in 2019. However, a month later, it put off the IPO, delaying a capital infusion it hoped would support the first clinical trials of those programs.

By Amirah Al Idrus

Source: Fierce Biotech

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 12, 2019

Amgen to cut 149 staff in retreat from neuroscience R&D

Life sciences

LinkedIn Twitter FacebookAmgen has given notice of its intent to lay off 149 people at its Cambridge, Massachusetts, operation by the end of the year. The notice comes weeks after […]

November 12, 2019

In the shadows

Life sciences

LinkedIn Twitter FacebookThroughout history, there are countless examples of people who have toiled away without receiving the plaudits they deserve. During his life, Vincent Van Gogh couldn’t find a single […]

November 11, 2019

Lupin sells off Japanese operation to tidy up its balance sheet

Life sciences

LinkedIn Twitter FacebookEven as other drugmakers are making big plays for business in Japan, India’s Lupin is backing off. Just weeks after selling the sterile manufacturing assets of its Kyowa […]

Subscribe to our Weekly Newsletter

We're easy to reach