09.28.21
UNION Therapeutics, a privately-held, clinical stage pharmaceutical company focused on immunology and infectious diseases, and Innovent Biologics Ltd., a biopharmaceutical company that develops, manufactures and commercializes treatments for cancer, metabolic, autoimmune and other major diseases, have entered into a strategic collaboration and license agreement for the development and commercialization of orismilast in China.
Under the agreement, UNION grants Innovent an exclusive license to research, develop and commercialize orismilast in China, including participating in and recruiting Chinese patients for potential future global studies of orismilast. UNION will receive $20 million upfront and is eligible to receive as much as $247 million in milestone payments as well as royalties on sales of orismilast in China. UNION will retain global rights for orismilast outside of China.
In Phase 2a clinical studies, orismilast demonstrated potential best-in-class profiles in atopic dermatitis and psoriasis, with a combination of improved efficacy and tolerability, and could be well positioned to address the unmet needs of these patient populations.
Dr. Yongjun Liu, President of Innovent, said, “We are very pleased to enter a collaboration with UNION. We have been impressed with our partner’s capability to advance the global development of orismilast and we are excited to help bring orismilast to patients in China. This collaboration further strengthens our position in autoimmune by adding a mid-stage potential best-in-class therapy into our portfolio. Innovent is proud to be an ideal partner for worldwide biotech and pharmaceutical companies in terms of accelerating the development and commercialization progress of novel assets to benefit a broader patient population.”
Kim Kjøller, Chief Executive Officer of UNION therapeutics, said, “We are excited to enter into this strategic collaboration with Innovent, whose deep insights and presence in China make them an ideal partner to bring orismilast to Chinese patients. We are impressed by Innovent’s track record of international partnering, advancing assets through clinical development and commercial execution. This agreement provides independent validation of our belief in the best-in-class potential of orismilast and expands our global footprint in an underserved market with significant potential.”
Under the agreement, UNION grants Innovent an exclusive license to research, develop and commercialize orismilast in China, including participating in and recruiting Chinese patients for potential future global studies of orismilast. UNION will receive $20 million upfront and is eligible to receive as much as $247 million in milestone payments as well as royalties on sales of orismilast in China. UNION will retain global rights for orismilast outside of China.
In Phase 2a clinical studies, orismilast demonstrated potential best-in-class profiles in atopic dermatitis and psoriasis, with a combination of improved efficacy and tolerability, and could be well positioned to address the unmet needs of these patient populations.
Dr. Yongjun Liu, President of Innovent, said, “We are very pleased to enter a collaboration with UNION. We have been impressed with our partner’s capability to advance the global development of orismilast and we are excited to help bring orismilast to patients in China. This collaboration further strengthens our position in autoimmune by adding a mid-stage potential best-in-class therapy into our portfolio. Innovent is proud to be an ideal partner for worldwide biotech and pharmaceutical companies in terms of accelerating the development and commercialization progress of novel assets to benefit a broader patient population.”
Kim Kjøller, Chief Executive Officer of UNION therapeutics, said, “We are excited to enter into this strategic collaboration with Innovent, whose deep insights and presence in China make them an ideal partner to bring orismilast to Chinese patients. We are impressed by Innovent’s track record of international partnering, advancing assets through clinical development and commercial execution. This agreement provides independent validation of our belief in the best-in-class potential of orismilast and expands our global footprint in an underserved market with significant potential.”
