AP Biosciences (APBio) and Tasly Biopharmaceuticals Co. Ltd (Tasly) are pleased to announce the signing of a cooperative development and licensing agreement for the development of new bispecific antibodies aimed at cancer treatment. This partnership grants Tasly exclusive rights for clinical development, manufacturing, and sales of APBio’s new antibody drugs across Greater China, including mainland China, Hong Kong, and Macao.
Under the terms of the agreement, Tasly will make an upfront payment of USD $4.5 million to APBio, with additional milestone payments upon achieving predefined objectives, as well as royalties based on a percentage of the product’s net sales. This agreement highlights the commitment of both companies to advancing innovative therapies to eliminate cancer.
Key Components of the Agreement:
- Exclusive Rights for Greater China: Tasly will hold exclusive rights to the development, manufacturing, and commercialization of the new antibody therapies in mainland China, Hong Kong, and Macao.
- APBio’s Pipeline of Antibodies: APBio has developed a range of bispecific antibodies that target cancer cells through various mechanisms:
- AP201: A bispecific antibody targeting PD-L1/OX40. This antibody works by inhibiting PD-L1 and stimulating OX40, to directly activate T-cells and induce the destruction of tumor cells. Initial evaluations in vitro and in vivo have been completed, and the product is entering national patent reviews.
- AP505: A bispecific antibody that simultaneously inhibits PD-L1 and VEGF. This antibody targets both immunotherapy and inhibition of tumor blood vessel formation. Early-stage research has been completed, and national patent reviews are underway.
- AP116: A monoclonal antibody that activates the CD137 pathway, enhancing the immune system’s ability to attack cancer cells through T-cells, NK cells, and DC cells. Initial research in vitro has been successfully completed.
- Co-development of New Antibodies: Tasly plans to collaborate with APBio to develop up to eight new antibody-based therapeutics using APBio’s platform, aiming to further expand its oncology portfolio.
Financial and Operational Benefits:
This strategic collaboration will provide APBio with significant financial benefits, including upfront and milestone payments, as well as future royalty income. The partnership will also accelerate the operational progress of its antibody pipeline, bringing innovative cancer treatments closer to patients.
Confidentiality and Financial Impact:
Both parties have agreed to keep specific details of the milestone payments and royalty structures confidential. Investors and stakeholders can expect regular updates through MOPS and financial reports as the collaboration progresses.
About Tasly Biopharmaceuticals:
Tasly Biopharmaceuticals Co. Ltd, a subsidiary of Tasly Pharma (Shanghai: 600535), is a leading biopharmaceutical company specializing in the research, development, manufacturing, and commercialization of cutting-edge biomedicines. More information about Tasly can be found at https://www.tasly.com/.
