ImmuneOnco signed licensing and CMO service agreements with Wo-Yun Investment LLP and Genor Biopharma (Yuxi, Yunnan, June 8, 2016)
On June 8 of 2016, ImmuneOnco Biopharmaceuticals Co., Ltd., an emerging biotech company fully focusing on discovery and development of tumor immunotherapy, today announced two collaboration agreements signed respectively with Wo-Yun Investment LLP and Genor Biopharma Co., Ltd, the latter of which is a wholly-owned subsidiary of a public listed biopharmaceutical company, Walvax Biotechnology Co., Ltd. Under the terms of agreements, Wo-Yun Investment Company will have the right to further develop and commercialize two of ImmuneOnco’s proprietary TANK (Target-Activated NK)TM cell therapeutic products, PD1-TANK and CD19-TANK in China. In return, ImmuneOnco is eligible to receive upfront as well as milestone payments plus sales royalties in the future. In the event ImmuneOnco toneds to use China clinical data of the two products outside of China,Wo-Yun Investment Company and Genor Biopharma will be eligible to receive single digit sales royalties from ex-China territories.
“We are delighted to have Wo-Yun Investment Company as our first partner for co-developing the promising NK cell-based tumor immunotherapy”, said Dr. Wenzhi Tian, Chairman and Chief Executive Officer (CEO) of ImmuneOnco. “As the first battle line in preventing viral infection as well as fighting against cancer, NK cells are unique in that it is not necessary for NK cell to recognize tumor antigen in a MHC-restricted manner. Most importantly, NK cells produce little IL-6 which is the main player in CAR-T mediated cytokine release syndrome (CRS) and will generate robust therapeutic efficacy with less side effect for cancer treatment”, further commented by Dr. Tian. “We are very pleased to build up the collaboration with ImmuneOnco led by Dr. Wenzhi Tian, who has developed a solid portfolio of immunotherapeutic projects for all kinds of cancer indications”, said Mr. Yunchun Li, Chairman and CEO of Wo-Yun Investment LLP. “We believe the PD1-TANK product will meet the unmet medical need for lung cancer as well as all other cancers expressing PD-L1/PD-L2”, Mr. Li further commented.
In the second collaboration agreement, ImmuneOnco will engage Genor Biotech to undertake the CMC work for a large molecule drug candidate targeting a novel immunocheck point, in a fee-for-service manner. Genor will has the right of first refusal under the same transaction conditions to in license China right of the molecule. “We are very pleased to set up the collaboration with Genor Biopharma, a leading player in developing antibody drug in China”, said Dr. Wenzhi Tian. “We believe with Genor’s resources and credibility, as reflected by more than eight IND filing and CTA approvals from CFDA as well as foreign regulatory agencies such as South Korea and Australia, the IND-enabling CMC development work of our leading product will be carried out smoothly as well as in a timely manner”, further commented by Dr. Wenzhi Tian. “We are delighted to carry out the CMC work for an innovative drug candidate, which we believe will be the firs-in-class immunotherapeutic drug targeting a novel immunocheck point”, said Dr. Joe Zhou, CEO of Genor Biopharma. “We believe with our proven expertise and advanced facility, we can provide the best CMC service for ImmuneOnco as well as for other clients who have the similar needs”, further said by Dr. Zhou.
The detailed terms for both agreements are not fully disclosed at the current moment.