Rare Daily Staff
CANbridge Pharmaceutical and WuXi Biologics said they entered into a strategic partnership to enable CANbridge to develop and commercialize a portfolio of biotherapeutics for the treatment of rare diseases in China and elsewhere.
The partnership leverages WuXi Biologics’ drug discovery, development, and manufacturing capabilities and CANbridge’s clinical, regulatory, and commercial capabilities.
The companies did not disclose financial terms of the agreement.
“We believe it is a perfect marriage between two forward-thinking organizations and has the potential to change the world of rare disease dramatically in China, as well as globally,” said James Xue, founder, chairman and CEO, CANbridge Pharmaceutical.
CANbridge expects to file the first application to begin human clinical trials in a rare disease in China with the lead candidate from this program in 2019. CANbridge may also develop these therapeutics on a global basis going forward under an exclusive licensing agreement. WuXi Biologics is expected to receive upfront payments, milestone payments, and royalties on global sales for these programs.
“There are huge unmet medical needs in China regarding rare disease diagnosis and treatment,” said Dr. Chris Chen, CEO of WuXi Biologics. “I am thrilled that CANbridge will be a trailblazer in this exciting field in China.”
October 23, 2018
Photo: CANBridge Pharmaceutical executive team