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Week In Review: Abpro Bio Signs $1.1 Billion Deal For China-Asian Rights To 2 Bi-Specifics

Mar. 08, 2020 12:59 PM ETMKGAY, LLY, RHHBY, INCY
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  • Abpro Bio, a Korean company, announced a $1.1 billion agreement to acquire Asian rights (including China) to two bi-specific antibody candidates being developed by Abpro of Boston.
  • Merck KGaA of Germany announced China approval of Erbitux® to treat patients with head and neck cancer.
  • Roche's Actemra was approved to treat coronavirus patients with serious disease and lung damage, according to new China guidelines for COVID-19 treatment.

Deals and Financings

Abpro Bio, a Korean company, announced a $1.1 billion agreement to acquire Asian rights (including China) to two bi-specific antibody candidates being developed by Abpro of Boston. Abpro Bio, known previously as Ugint (KOSDAQ:195990), manufactures precision machine tools and was not involved in biopharma. It made a $30 million equity investment in Abpro and will be responsible for more than $1 billion in milestones and royalties. ABP-100 targets HER2 and CD3 to treat HER2+ solid tumors. ABP-201, with an angiogenesis mechanism, targets VEGF and ANG2 to treat vascular diseases of the eye.

3SBio (HK:1530) of Shenyang has invested in two new cancer funds that are based on research from Boston's Dana-Farber Cancer Institute. MPM Capital announced it has closed the MPM Oncology Innovations Fund (INV) with $100M in capital, and the Dana-Farber Innovations Research Fund (IRF) with more than $26M in pledged donations. MPM said it expects 50% of the INV will back companies developing products developed out of Dana-Farber research. 3SBio is a limited partner in the INV and will donate to the INF, though details were not disclosed.

Realbio Technology, a Shanghai biopharma focused on the human microbiome, received a strategic majority investment from Shanghai Zhangjiang Haocheng VC. Founded in 2014, Realbio offers an early screening test for colorectal cancer, Colowell®, and RealPathogen™, a high-throughput sequencing detection product for severe infections. The company plans a public listing in the future. Zhangjiang Haocheng is an investment platform of Shanghai Zhangjiang High-Tech Development.

Beijing Shenogen Pharma in-licensed China-Asia rights from Alopexx Oncology of Massachusetts to a novel antibody-cytokine fusion protein (or immunocytokine) that targets the B cell antigen CD20. It is aimed at treating patients with relapsed or refractory B-cell CD20 positive lymphoma. DI-LEU16-IL2 recognizes the same target on B cells as Rituxan and maintains the activities of both the antibody

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China has become the #2 pharmaceutical market years ahead of projections and continues to be the fastest growing market in the world. China is $50 billion dollars a year into life science and healthcare development through over 160 government funding programs. VC investment, M&A transactions and cross-border partnering deals in China were all up significantly in 2012. ChinaBio® Today focuses exclusively on the rapidly evolving life science industry in China, including biotech, pharma, medical device, diagnostics, services and tools. From our offices in Shanghai and San Diego, our industry analysts provide daily news, commentary and analysis on public and private China life science companies, as well as events and global issues affecting the China market. Visit: ChinaBio Today (http://www.chinabiotoday.com) ChinaBio LLC (http://www.chinabiollc.com)

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