MedImmune, the global biologics arm of AstraZeneca, and WuXi AppTec, have formed a joint venture to develop and commercialize MEDI5117, a novel biologic for autoimmune and inflammatory diseases, in China. MedImmune will provide technical and development expertise and WuXi AppTec will provide local regulatory, manufacturing and clinical trial support, as the government requires local manufacture of drugs not approved in other markets.
The joint venture will control the development of MEDI5117 in China and will have equal ownership. MedImmune will have the option to acquire the full rights to commercialize MEDI5117. WuXi AppTec will earn revenue for services provided to the joint venture. MedImmune will receive milestone payments as the program progresses.
"We are pleased to partner with WuXi AppTec, a company with strong leadership in the Chinese pharmaceutical R&D sector, to help us address the healthcare needs of Chinese patients through the co-development of MEDI5117," said Bahija Jallal, executive vice president, R&D, MedImmune. "This strategic partnership will enable us to establish a leadership presence in developing novel biologics in China, complementing AstraZeneca's investment in this important emerging market."
"WuXi is delighted to work with MedImmune, an innovative biologics company, to develop and manufacture a novel product for first use in China," said Dr. Ge Li, chairman and chief executive officer of WuXi AppTec. "WuXi is working to build long-term drug development partnerships with leading biopharmaceutical companies like MedImmune to help accelerate the development of novel medicines for the large and rapidly growing Chinese pharmaceutical market."