SHANGHAI & SUZHOU & HUZHOU, China--(BUSINESS WIRE)--EpimAb Biotherapeutics, a Shanghai-based biopharmaceutical company specializing in bispecific antibodies, and Zhejiang Teruisi Biopharmaceutical, a company specialized in the development of biologics, today announced a development collaboration on a bispecific antibody program discovered by EpimAb. Under the terms of the agreement, Zhejiang Teruisi Biopharmaceutical, Inc. will gain access to EpimAb’s Fabs-In-Tandem Immunoglobulin (FIT-Ig®) program FIT012/TRS008 to develop it for the Chinese market. EpimAb retains all commercial rights to the program outside of China. In return for commercialization rights in China, EpimAb is eligible to receive an upfront payment and total success-based milestones of up to US-$21 MM, plus royalties. EpimAb may use the development data generated by Zhejiang Teruisi in partnering discussions outside of China for an undisclosed share of its net receipts. Further financial details were not disclosed.
“In addition to EMB01, EpimAb’s frontrunner program that is on its way to clinical development, FIT012 is another great example of EpimAb’s first validated assets moving forward into preclinical and clinical development,” said Dr. Chengbin Wu, CEO and founder of EpimAb. “Teruisi is an ideal partner for this innovative program and has proven its excellence in CMC capabilities with a successful track record of multiple IND filings as well as early clinical development.”
FIT012/TRS008 is a bispecific antibody program in oncology. The molecule was identified by EpimAb and validated by Zhejiang Teruisi Biopharmaceutical in an extensive series of preclinical tests. The targets of FIT012/TRS008 were not disclosed.
“We are delighted to work with EpimAb on this innovative program. FIT012/TRS008 will fit nicely in our development pipeline,” said Youling Wu, Chief Executive Officer and Founder of Zhejiang Teruisi Biopharmaceutical, Inc. “In addition to our rich pipeline of biosimilars and novel antibodies, a highly innovative bispecific antibody like FIT012/TRS008 will allow us to further expand our pipeline.”
--- Meet us at the 10th Annual International ChinaBio® Partnering Forum --- Epimab will present on Wednesday, 25 April 2018 at 2:00 pm CST --- For more info, please visit: https://ebdgroup.knect365.com/chinabio-partnering/
About EpimAb Biotherapeutics, Inc.
EpimAb Biotherapeutics is a privately-owned biopharmaceutical R&D company based in Shanghai with a proprietary unique and efficient technology called FIT-Ig® (Fabs-In-Tandem Immunoglobulin) to generate bispecific molecules with antibody-like properties. With this platform EpimAb is creating a pipeline of its own novel bispecific antibody therapeutics focused around immuno-oncology and other areas of high value to patients. EpimAb is also committed to diversifying its pipeline through selective licensing of its platform and pipeline assets to partners worldwide. For further information, please visit www.epimab.com
About Zhejiang Teruisi Biopharmaceutical, Inc.
ZheJiang Teruisi Biopharmaceutical, Inc. is a Chinese based company that is developing biopharmaceuticals focusing on, but not limited, to monoclonal antibody product development and commercial manufacturing including biosimilars and innovate biopharmaceuticals. With its strong knowledge and expertise, Teruisi is looking forward to seeking partners worldwide in biopharmaceutical development.