Hanmi Pharmaceutical Co. Ltd., a Korea-based pharmaceutical company, and Innovent Biologics (Suzhou) Co. Ltd (Innovent), a China based biopharmaceutical company, have announced a strategic partnership to co-develop and co-commercialize a novel immuno-oncology bispecific antibody on a global basis.
The bispecific antibody constructed using contributions from both Hanmi and Innovent enables immunotherapy and targeted therapy at the same time. This molecule incorporates the pentambody platform technology developed by Beijing Hanmi Pharmaceutical Co., Ltd., a subsidiary of Hanmi. pentambody is a next generation bispecific antibody platform that allows the combination of two different targeting modules in a single therapeutic agent. The molecule under co-development is expected to enter clinical trials in 2019.
Under the terms of the agreement, Hanmi and Innovent will coordinate efforts in the global development of the asset with Hanmi playing a lead role in global/ex-China development, registration and commercialization efforts, and Innovent playing a lead role for manufacturing, China development, registration, and commercialization. The two companies will share development costs and future profits of the molecule. Further financial terms are not disclosed.
“We are happy to collaborate with Innovent Biologics and think they will be a great partner considering their existing global partnership and outstanding capability in the immuno-oncology field. We envision this co-development as an important step in taking us closer to successful bispecific antibody development in the immuno-oncology field. In furtherance of the best possible work put together by the two strong players, we hope to bring innovative therapy to help cure cancer.” said Se Chang Kwon, the chief executive officer of Hanmi Pharmaceuticals.
“This collaboration combines China’s best biopharmaceutical innovation with the best biopharmaceutical innovation coming out of Korea. Innovent has previously established a PD-1 based bispecific discovery and development partnership with Eli Lilly and company and now, with Hanmi, we are driving forward in our first co-development partnership that goes beyond China. Hanmi is a great partner for Innovent as over the last few years, time and again, they have demonstrated a core capability to develop innovative molecules into the global marketplace by partnering with major multinational pharmaceutical companies.” said Michael Yu, the chief executive officer of Innovent Biologics.