Tuesday, December 26, 2017
HyLeukin is an immuno-oncology agent comprised of an optimally engineered Interleukin-7 (IL-7) molecule based on Genexine's proprietary long-acting platform technology. Genexine will establish a joint development committee with I-Mab to pursue global commercialization and new drug development of multi-target antibody-based candidates in immuno-oncology areas. Under the terms of the agreement, I-Mab will provide an upfront payment in exchange for an exclusive license for development and commercialization rights of HyLeukin in greater China in the field of oncology. In addition, there is potential for various milestone payments and tiered, low single digit royalty payments to Genexine, contingent on regulatory approvals, and accumulated net sales. Further financial details are not disclosed. "We believe this licensing partnership with I-Mab represents an important step in executing Genexine's immuno-oncology development and will become a criterion of value determination in future global licensing deals", said Dr. Young Chul Sung, the founder and CTO of Genexine. "We are very excited to have brought our partnership with Genexine to a new level. This is a highlight of many on-going projects we have been collaborating with", said Jingwu Zang, founder and CEO of I-Mab Biopharma. I-Mab plans to develop this clinical stage asset in China for cancer patients whose immune cells and functions are severely compromised. "We hope to develop this investigational medicine of the first-in-class potential in parallel with its global development. So, if proven safe and efficacious, patients in China can benefit from such a treatment in line with or even ahead of a global timeline", commented by Jingwu Zang.
