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Sino Biopharmaceutical : VONLUNTARY ANNOUNCEMENT - ENTERING INTO AN OVERSEAS LICENSING COOPERATION AGREEMENT WITH GRAVITON
|02/23/2021 | 05:56pm|
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(Incorporated in the Cayman Islands with limited liability)
(Stock code: 1177)
ENTERING INTO AN OVERSEAS LICENSING COOPERATION
AGREEMENT WITH GRAVITON
The board of directors (the "Board") of Sino Biopharmaceutical Limited (the "Company", together with its subsidiaries, the "Group") announces that Beijing Tide Pharmaceutical Co. Ltd., a subsidiary of the Company, has entered into an overseas licensing cooperation agreement (the "Agreement") with Graviton Bioscience Corporation ("Graviton") of the United States to jointly develop and commercialize "TDI01", an innovative drug self-developed by the Group for the treatment of fibrosis, outside of China. Pursuant to the Agreement, depending on the development and commercialization progress of TDI01, the Group will be able to receive revenue including (1) upfront payment and milestone payments for various clinical and registration stages of TDI01 as well as (2) after TDI01 is launched to the market, royalties representing certain percentage of the annual sales amount of the product during the licensing period and sales milestone payments, which are up to a total of US$517.5 million.
TDI01 is a new targeted inhibitor of Rho/Rho associated coiled-coil containing protein kinase 2 (ROCK2) with high selectivity, and a "significant new drug" of the 13th Five-Year Plan of China. TDI01 with a new mechanism of action can suppress the progression of fibrosis and have anti-inflammatory and immunomodulatory effects by highly selective inhibition of the ROCK2 signaling pathway, having a good therapeutic potential in the fields of pulmonary fibrosis and liver fibrosis. In 2020, TDI01 has been approved by the United States Food and Drug Administration and the Center for Drug Evaluation of the National Medical Products Administration of China to conduct clinical trials. Currently, TDI01 has launched phase I clinical trials in the United States and China, which are progressing smoothly.
The strategic cooperation between the Group and Graviton will fully integrate the advantages of the R&D and investment teams of both parties, further tap the potential of TDI01 for multiple indications, and help promote TDI01 related products to the world, so that Chinese innovative drugs will benefit more patients globally.
INFORMATION ON GRAVITON
Graviton is an innovative drug development company based in New York, USA, and is dedicated to developing novel therapeutics for the treatment of autoimmune, cancer, certain genetic, fibrotic and other serious diseases. The core team of Graviton has led the clinical development and launch of a number of international blockbuster innovative drugs, especially with rich experience in the development of multiple clinical applications of ROCK2 inhibitors.
By order of the Board
Sino Biopharmaceutical Limited
Tse, Theresa Y Y
Hong Kong, 24 February 2021
As at the date of this announcement, the Board of the Company comprises nine Executive Directors, namely Ms. Tse, Theresa Y Y, Mr. Tse Ping, Ms. Cheng Cheung Ling, Mr. Tse, Eric S Y, Mr. Tse Hsin, Mr. Li Yi, Mr. Wang Shanchun, Mr. Tian Zhoushan and Ms. Li Mingqin and five Independent Non-Executive Directors, namely Mr. Lu Zhengfei, Mr. Li Dakui, Ms. Lu Hong, Mr. Zhang Lu Fu and Mr. Li Kwok Tung Donald.
Sino Biopharmaceutical Limited published this content on 24 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 February 2021 22:55:20 UTC.