Tuesday, September 12, 2017
HanAll Biopharma Co., Ltd. and Harbour BioMed announced today that they have entered into a strategic collaboration and license agreement to develop, manufacture and commercialize in Greater China (including Hong Kong, Macau and Taiwan) HanAll's two novel biologics, the anti-FcRn monoclonal antibody, HL161, for the treatment of pathogenic IgG-mediated autoimmune diseases, and the anti-TNF ophthalmic solution, HL036, for dry eye and other inflammatory diseases.
HanAll Biopharma will receive up to $81 million in total upfront, development, registration, and sales milestones, as well as royalties on net sales. The rights outside of Greater China are reserved for HanAll. Additional terms were not disclosed.
"We are delighted to be able to work with Harbor BioMed's team who have demonstrated outstanding capability in the discovery and development and commercialization of novel antibody therapeutics within the immunology field and deep expertise in China," said Seung Kook Park, PhD, MBA, CEO of HanAll Biopharma. "This collaboration will enable us to accelerate the development and commercialization of our pipeline products in other countries too, especially in the US and European countries."
"There are great unmet medical needs that these two innovative compounds can address for Chinese patients," said Jingsong Wang, MD, PhD, CEO of Harbour BioMed. "We are looking forward to collaborating with HanAll Biopharma to develop them in Greater China. This collaboration is aligned with our strategy to leverage our global and regional clinical development expertise by in-licensing clinical stage compounds that are complementary to the internal portfolio we are building through our industry leading, transgenic mouse platforms for generating fully human antibodies."
