SEOUL, South Korea & BEIJING--(BUSINESS WIRE)--Hanmi Pharmaceutical Co. Ltd (Hanmi) (KRX:128940), a Korea-based pharmaceutical company, and Innovent Biologics (Suzhou) Co. Ltd (Innovent), a China based biopharmaceutical company, today announced a strategic partnership to co-develop and co-commercialize a novel immuno-oncology bispecific antibody on a global basis.
The bispecific antibody constructed using contributions from both Hanmi and Innovent enables immunotherapy and targeted therapy at the same time. This molecule incorporates the PENTAMBODYTM platform technology developed by Beijing Hanmi Pharmaceutical Co., Ltd., a subsidiary of Hanmi. PENTAMBODYTM is a next generation bispecific antibody platform that allows the combination of two different targeting modules in a single therapeutic agent. The molecule under co-development is expected to enter clinical trials in 2019.
Under the terms of the agreement, Hanmi and Innovent will coordinate efforts in the global development of the asset with Hanmi playing a lead role in global/ex-China development, registration and commercialization efforts, and Innovent playing a lead role for manufacturing, China development, registration, and commercialization. The two companies will share development costs and future profits of the molecule. Further financial terms are not disclosed.
“We are happy to collaborate with Innovent Biologics and think they will be a great partner considering their existing global partnership and outstanding capability in the immuno-oncology field. We envision this co-development as an important step in taking us closer to successful bispecific antibody development in the immuno-oncology field. In furtherance of the best possible work put together by the two strong players, we hope to bring innovative therapy to help cure cancer.” said Se Chang Kwon, the CEO of Hanmi Pharmaceuticals.
“This collaboration combines China’s best biopharmaceutical innovation with the best biopharmaceutical innovation coming out of Korea. Innovent has previously established a PD-1 based bispecific discovery and development partnership with Eli Lilly and company and now, with Hanmi, we are driving forward in our first co-development partnership that goes beyond China. Hanmi is a great partner for Innovent as over the last few years, time and again, they have demonstrated a core capability to develop innovative molecules into the global marketplace by partnering with major multinational pharmaceutical companies.” said Michael Yu, the CEO of Innovent Biologics.
About Hanmi Pharmaceuticals
Hanmi Pharm. Co., Ltd. is a Korea-based pharmaceutical company, fully integrated with strong focus in R&D in 3 major fields: 1) Biologics: LAPSCOVERY long-acting platform technology applied in key targeting areas of diabetes, obesity and enzyme replacement therapy; 2) NCE: Focus in oncology and auto-immune disease; and 3) Fixed-dose combination programs. The company has worked closely with global partners (including Eli Lilly, Sanofi, Janssen and Genentech) on various co-developments and collaborations. Hanmi continues to further expand through "Open Innovation Strategy".
Named after ‘Penta amino acid mutated bispecific antibody’, the platform technology is developed by Hanmi’s subsidiary, Beijing Hanmi Pharmaceutical Co., Ltd. PENTAMBODYTM is a next generation bispecific platform technology that allows binding pairs of various targets for both immunotherapy and targeted therapy. It follows a naturally occurring IgG-like antibody format while demonstrating good stability and other important biophysical properties. Multiple bispecific antibodies directed towards various targets using PENTAMBODYTM are being developed by Hanmi.
About Innovent Biologics
Founded in August 2011, Innovent aims to produce quality complex biopharmaceutical products that will be affordable to people in China and around the world. With its focus on innovation and global cGMP standards, Innovent stands out in China’s biopharmaceutical industry and has attracted investments from world-class financial firms such as SDIC Fund Management, China Life, Ping An, Taikang Insurance Group, Legend Capital, Temasek, Fidelity, Lilly Asia Ventures, and others. In 2015, Innovent entered a strategic alliance with Eli Lilly & Company to co-develop and co-commercialize multiple innovative biologics in China, while outside of China Lilly develops and commercializes multiple immuno-oncology biologics within the alliance.