|Thursday, 23 July 2020, 07:20 HKT/SGT|
|For novel drug target identification|
HONG KONG, July 23, 2020 - (ACN Newswire) - SinoMab BioScience Limited ("SinoMab" of the "Company", stock code: 3681.HK), a Hong Kong-based biopharmaceutical company dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases, is pleased to announce that SinoMab and D2M Biotherapeutics Limited ("D2M") have entered into a Research, Development and Commercialization Agreement ("R&D Agreement") for long term collaboration for the identification of novel drug targets. Other than the R&D agreement, the Company is also going to invest totally USD 5 million in D2M as pre-A1 round investment.
Dr. Nan BING, one of the founders of D2M, served as a Senior Director of Immunogenetics of Pfizer Inc., (U.S.A.). Dr. BING was a founding team member of the genetic data department of Pfizer and has extensive experience in discovering biomarkers through clinical data and identifying drug treatment targets through various genetic data.
Under the R&D Agreement, SinoMab and D2M enter into long-term collaboration where SinoMab is entitled to conduct research, development and commercialization of qualified drug targets, which are chosen by the Company from the original results of D2M's target identification works according to a prioritized target-selection mechanism ("Collaboration"). D2M shall identify novel drug targets for the Company to consider further development upon satisfactory evaluation by the Company on the scientific merits and commercial potential of these discoveries.
Dr. Shui On LEUNG, the Executive Director, Chairman and Chief Executive Officer of SinoMab, remarked: "Our Collaboration and investment in D2M are intended to expand the scope of SinoMab's existing capabilities and values by ramifying into areas of novel target identification against which antibodies can be developed for the treatment of diseases of unmet medical needs. We are optimistic that through the synergies created by our Collaboration, D2M can contribute to the success of our future business development. The newly added drug target identification platform will make SinoMab in line with most other well-known biopharmaceutical companies which have had substantial investment in this area. It is a suitable timing for SinoMab to strategically collaborate with D2M for novel drug target identification and move-up its value chain."
With the additional value created by D2M on the upstream research and development process in the biotech industry, such as target identification and therapeutics and therapies discovery, contributed to the Company. A strategic collaboration will be established by the parties, where SinoMab and D2M can combine their strengths and resources to create greater business value. The Company believes that the Collaboration marks a major step forward for the Company to fulfill the Company's commitment to research, development, manufacturing and commercialization of therapeutics for the treatment of immunological and other debilitating disease.
About D2M Biotherapeutics Limited
D2M Biotherapeutics Limited ("D2M") is a company specialized in the development of a genetics-driven target identification platform and the discovery, development and commercialization of therapeutics and therapies against those targets for treatment or prevention of human diseases.
About SinoMab BioScience Limited
SinoMab BioScience Limited ("SinoMab" or the "Company", stock code: 3681.HK) is dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases. The Company's flagship product SM03 is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis and is currently in Phase III clinical trial for rheumatoid arthritis in China, which has been recognized as one of the significant special projects of Significant New Drugs Development of the Twelfth Five-Year Plan Period and the Thirteenth Five-Year Plan Period. In addition, the Company possesses other potential first-in-target and first-in-class drug candidates, some of which are already in clinical stage, with their indications covering rheumatoid arthritis, systemic lupus erythematosus, non-Hodgkin's lymphoma, asthma, and other diseases with major unmet clinical needs.
July 23, 2020 07:20 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News, BioTech, HealthCare
From the Asia Corporate News Network
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