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Harbour BioMed and Chia Tai Tianqing Pharmaceutical Group Ltd. Announce Strategic Alliance to Discover, Develop and Commercialize Innovative Biologics
CAMBRIDGE, Mass., ROTTERDAM, Netherlands, and SHANGHAI, May 5, 2019 /PRNewswire/ -- Harbour BioMed and Chia Tai Tianqing Pharmaceutical Group Ltd. (CTTQ) today announced they are entering into a strategic alliance to discover, develop and commercialize next-generation biologics for multiple therapeutic targets in oncology and immunology.
The collaboration will combine Harbour BioMed's discovery capabilities, including its transgenic mouse technologies for generating fully human antibodies, with CTTQ's preclinical development resources and expertise. The companies will be responsible for clinical development and commercialization of therapeutic candidates emerging from the collaboration in their respective regions. Harbour BioMed will be responsible for the United States, Japan, and the rest of the world outside, while CTTQ will have responsibility for Greater China and Europe. The companies will pay royalties to each other based on sales in their respective territories. Additional financial terms were not disclosed.
"The agreement with CTTQ, is part of our strategy to build a robust therapeutic pipeline for global markets through co-discovery, development and commercialization partnerships that capitalize on our patented platforms for generating fully human antibodies," said Dr. Jingsong Wang, Founder, Chairman and CEO of Harbour BioMed. "CTTQ, a well-known pharmaceutical company that is making strategic investments in therapeutic innovation in oncology and immunology, is a strong partner in that effort and directly complements our internal discovery programs," added Dr. Wang. It is expected that both sides will jointly own the IP and development and commercialization rights for the new drugs coming out of this collaboration.
"CTTQ will be committed to bring valuable treatment agents for diseases with unmet need. The collaboration with Harbour BioMed is well aligned with CTTQ's strategy for innovative biological medicine development, it also marks significant progress to strengthen our capability of R&D of innovative therapeutic antibodies," said Shanchun Wang, President of CTTQ. CTTQ currently has several monoclonal antibody drugs, including a PD-L1 inhibitor, which have progressed into Phase 2 and Phase 3 clinical development.
About Harbour BioMed
Harbour BioMed is a global biopharmaceutical company developing innovative therapies for cancer and immune diseases. The company has a growing clinical portfolio and an emerging pipeline of next generation biologics based on its two, patented transgenic mouse platforms (Harbour Mice™) for producing fully human antibodies.
For more information, please visit www.harbourbiomed.com.
Chia Tai Tianqing Pharmaceutical Group Ltd. (CTTQ) is an integrated pharmaceutical company that engages in drug R&D, manufacturing, marketing, and sales. It is well-known for its leading position in liver disease and oncology therapeutic areas in China, and was honored as one of the leading companies ranked 17th on the list of the "Top 100 Pharmaceutical Enterprises in China" in 2017. CTTQ always regards technological innovation as an important source of enterprise development and is one of the successful pharmaceutical companies with research and innovation capabilities in China. CTTQ invests more than 1 billion RMB in R&D annually in recent years. It has more than 1,000 employees in R & D and more than 180 projects in its pipeline, including more than 30 innovative small molecular drugs and more than 20 biologics.
For more information, please visit https://www.cttq.com
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SOURCE Harbour BioMed