10.24.18
CANbridge Pharmaceutical Inc. and WuXi Biologics have formed a strategic partnership to enable CANbridge to develop and commercialize a portfolio of biotherapeutics for the treatment of rare diseases.
CANbridge expects to file the first Investigational New Drug (IND) application in a rare disease in China with the lead candidate from this program in 2019. CANbridge may also develop these therapeutics on a global basis going forward under an exclusive licensing agreement. WuXi Biologics is expected to receive upfront payments, milestone payments and royalties on global sales for these programs.
"This historic partnership marks a watershed event in the development of therapeutics for patients with rare diseases," said James Xue, PhD, founder, chairman and chief executive officer, CANbridge Pharmaceutical Inc."We believe it is a perfect marriage between two forward-thinking organizations and has the potential to change the world of rare disease dramatically in China, as well as globally."
"There are huge unmet medical needs in China regarding rare disease diagnosis and treatment," said Dr. Chris Chen, chief executive officer of WuXi Biologics. "I am thrilled that CANbridge will be a trailblazer in this exciting field in China. Being globally recognized for leading technical capabilities, and unparalleled capacities in biologics discovery, development and manufacturing, we are excited to enable CANbridge to become a leader in rare diseases and to collaborate with them to bring the much-needed treatments to Chinese patients."
CANbridge expects to file the first Investigational New Drug (IND) application in a rare disease in China with the lead candidate from this program in 2019. CANbridge may also develop these therapeutics on a global basis going forward under an exclusive licensing agreement. WuXi Biologics is expected to receive upfront payments, milestone payments and royalties on global sales for these programs.
"This historic partnership marks a watershed event in the development of therapeutics for patients with rare diseases," said James Xue, PhD, founder, chairman and chief executive officer, CANbridge Pharmaceutical Inc."We believe it is a perfect marriage between two forward-thinking organizations and has the potential to change the world of rare disease dramatically in China, as well as globally."
"There are huge unmet medical needs in China regarding rare disease diagnosis and treatment," said Dr. Chris Chen, chief executive officer of WuXi Biologics. "I am thrilled that CANbridge will be a trailblazer in this exciting field in China. Being globally recognized for leading technical capabilities, and unparalleled capacities in biologics discovery, development and manufacturing, we are excited to enable CANbridge to become a leader in rare diseases and to collaborate with them to bring the much-needed treatments to Chinese patients."
