Contract Pharma Staff10.06.20
GT Biopharma, a company focused on developing innovative therapeutic treatments based on its proprietary NK cell engager (TriKE), entered into a partnership with Cytovance Biologics, a U.S.-based contract development and manufacturing organization (CDMO) and a subsidiary of the Shenzhen Hepalink Pharmaceutical Group.
Cytovance will be the exclusive GMP manufacture for three of the company's TriKE therapeutic product candidates. Cytovance will manufacture TriKE in accordance with GMP using Cytovance's proprietary Keystone bacterial or mammalian expression systems. Subject to the completion of certain milestones by Cytovance, GT Biopharma has the option to pay Cytovance up to $6 million for its manufacturing services in either cash or in shares of the Company's common stock valued at the time Cytovance achieves each of several milestones over the next 12 months.
“We are pleased to have been selected as GT Biopharma's exclusive GMP manufacturer for its first three TriKE product candidates,” said Matt Delaney, vice president business development and marketing, Cytovance. “We believe our proprietary Keystone bacterial or mammalian expression systems will deliver high production yields of TriKE further enhancing economies of scale."
Anthony Cataldo, chairman and chief executive officer, GT Biopharma, said, "We are pleased to have the opportunity to expand our partnership with Cytovance. The flexibility and breadth of our TriKE therapeutic platform allows us to quickly adapt to new disease targets, and rapidly advance TriKE product opportunities into the clinic."
Cytovance will be the exclusive GMP manufacture for three of the company's TriKE therapeutic product candidates. Cytovance will manufacture TriKE in accordance with GMP using Cytovance's proprietary Keystone bacterial or mammalian expression systems. Subject to the completion of certain milestones by Cytovance, GT Biopharma has the option to pay Cytovance up to $6 million for its manufacturing services in either cash or in shares of the Company's common stock valued at the time Cytovance achieves each of several milestones over the next 12 months.
“We are pleased to have been selected as GT Biopharma's exclusive GMP manufacturer for its first three TriKE product candidates,” said Matt Delaney, vice president business development and marketing, Cytovance. “We believe our proprietary Keystone bacterial or mammalian expression systems will deliver high production yields of TriKE further enhancing economies of scale."
Anthony Cataldo, chairman and chief executive officer, GT Biopharma, said, "We are pleased to have the opportunity to expand our partnership with Cytovance. The flexibility and breadth of our TriKE therapeutic platform allows us to quickly adapt to new disease targets, and rapidly advance TriKE product opportunities into the clinic."
