Rare Daily Staff
CANbridge Pharmaceuticals and WuXi Biologics said they are expanding their rare disease partnership to enable CANbridge to discover, develop, and commercialize four additional drug candidates that target rare genetic chronic diseases.
Under the agreement, CANbridge has exclusive regional or global rights for the therapies covered by the agreement. WuXi Biologics will receive upfront, milestone payments and royalties. WuXi Biologics will also be the exclusive clinical supplier and primary commercial supplier for all these programs.
The two companies did not disclose what therapeutic areas the expanded agreement covers or financial details.
“With this expansion of our partnership with WuXi Biologics, CANbridge continues to broaden our presence in rare disease, with a goal of bringing to the market treatments that are developed in China,” said James Xue, founder, chairman and CEO, CANbridge Pharmaceuticals. “These four new drug candidates target important rare disease indications for which there are either no available treatments in China, or treatments with poor outcomes.”
Xue described the candidates as next-generation therapies directed at medically-validated biological targets.
He said together with WuXi Biologics, CANbridge expects to submit the first application in China to begin clinical trials of a rare disease therapy in China for its lead candidate later this year.
January 9, 2019
Photo: James Xue, CEO of CANBridge Pharmaceuticals