Essex Bio-Technology Enters into Global Out-licence Agreement with Kelun-Biotech
- Kelun-Biotech will be granted a global exclusive IP licence of EB12-10101Z, the antibody candidate for oncology
- EssexBio will be eligible to receive sublicence payments and royalties based on potential sublicence at clinical stage and commercialisation sales development
Chengdu/Hong Kong, August 2020
Essex Bio-Technology Ltd (“EssexBio” or the “Group”, Stock Code: 1061.HK) is pleased to announce that Zhuhai Essex Bio-Pharmaceutical Co.,Ltd. (“Zhuhai Essex”), a wholly-owned subsidiary of the Group, has entered into a IP licence agreement with Sichuan Kelun-Biotech Biopharmaceutical Co.,Ltd. (“Kelun-Biotech”), a subsidiary of Sichuan Kelun Pharmaceutical Co.,Ltd. (Stock Code: 002422.SZ) focusing on research and development, registration and global collaboration of large-molecule biologics and innovative small-molecule drugs. Under the licence agreement, Kelun-Biotech will be granted a global exclusive licence with respect to the specific patent, technology and the know-how in relation to EB12-10101Z, the antibody candidate for oncology, to advance the development of bi-/multi-specific antibody therapeutics.
EB12-10101Z is an in-house developed molecule with the target indications in ophthalmology and oncology. The related intellectual properties of EB12-10101Z are protected by a suite of patents (the Patents). To further facilitate the cooperation, Kelun-Biotech and Zhuhai Essex will set up a joint Product Development Advisory Committee based on the IP licence agreement, with oversight on product development.
Zhuhai Essex will be entitled to royalties as a share of annual net sales Kelun-Biotech achieved in relation to the licence, and sublicence payments upon potential sublicence at clinical stage until the expiration of the Patents.
“We are excited to have embarked on a new chapter of research and product development for EB12-10101Z with Kelun-Biotech, a company driven by innovation. By combining Kelun-Biotech’s extensive research expertise with EssexBio’s experience in drug discovery, we hope to meet unmet clinical needs in the field of Oncology.” said Malcolm Ngiam, Deputy Managing Director of EssexBio. “This important milestone allows both companies to jointly enter into a modern approach in Immunotherapy and Immuno-Oncology, using the latest of antibody-based therapeutics to target the tumour microenvironment.”
“We are committed to partnering with EssexBio”, said Dr.Tongtong Xue, CEO of Kelun-Biotech. “Based on our bispecific antibody platform, we are delighted to license EssexBio's antibody sequence, EB12-10101Z, which will expand our IO pipeline. Through this collaboration, we hope to bring innovative treatments to patients in near future.”
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. is a subsidiary of Sichuan Kelun Pharmaceutical Co.,Ltd., focusing on research and development, registration and global collaboration of large-molecule biologics and innovative small-molecule drugs. Kelun-Biotech is an innovation–driven company with multiple programs, including small molecules, biologics, and cell therapy for the disease area of cancer, HBV, metabolic diseases, autoimmune diseases, anesthesia and pain. It currently has over 20 biologics and over 30 innovative small molecule programs, including 7 biologics and 5 innovative small molecule programs in clinical trials.