EnGeneIC and Singapore Institute of Advanced Medicine Holdings Announce Strategic Alliance to Transform Cancer Treatment in Asia
Friday, June 07, 2024
EnGeneIC, a clinical-stage biopharmaceutical company pioneering the development of a First-in-Class targeted nanocell for cancer therapy, has announced strategic partnerships with the Singapore Institute of Advanced Medicine Holdings (SAM) and Singapore Medical Incorporation (SMI). These partnerships will provide crucial new funding to advance EnGeneIC's clinical trial programs in Australia and the USA. Moreover, the agreements aim to accelerate the clinical development, manufacturing, and commercialization of EnGeneIC's proprietary EnGeneIC Dream Vector (EDV™) technology for cancer treatment throughout Asia.
Under this commercial agreement, SAM will have exclusive rights to sell EDV therapeutics in Asia, with net profits predominantly benefiting EnGeneIC. Additionally, EnGeneIC and SAM will jointly develop EDV-based theranostics, which combine therapeutic and diagnostic capabilities to enhance cancer treatment. This integrated approach aims to deliver precise, personalized care by enabling early detection and targeted therapy.
The partnership includes the Singapore-based Crescendas Group (Singapore Medical Incorporation Pte Ltd), a diversified property, technology, and hotel entity. Crescendas has pledged funding for the capital expenditure required to complete the next phase of clinical tests necessary for securing Food and Drug Administration (FDA) approval in the US. Crescendas operates in Singapore, Malaysia, China, and the Maldives, and is owned by prominent Singaporean businessman Mr. Lawrence Leow, a former nominated member of the Singapore parliament.
"Partnering with SAM and SMI is a significant milestone for EnGeneIC as we expand our reach into Asia," said Dr. Jennifer MacDiarmid, Joint CEO of EnGeneIC. "Our EDV technology is set to revolutionize cancer treatment, and with the expertise and resources of our partners, including cGMP manufacturing capability and clinical trials, we are well-positioned to extend EDVs to a much larger patient population."
SAM, expressed enthusiasm about the collaboration: "We are thrilled to work with EnGeneIC to introduce their innovative EDV-based therapeutics to Singapore and Asia. This partnership aligns with our mission to advance medical innovation and improve patient outcomes. By combining our strengths, we aim to provide groundbreaking cancer treatments that offer new hope to patients across the region."
Source: globenewswire.com
