HOME ABOUT CONTACT AVAILABLE ISSUES SUBSCRIBE MEDIA & ADS CONFERENCE CALENDAR
LATEST UPDATES » Vol 21, No 07, July 2017 – Food Science & Technology       » Scientists Demonstrate RNAi as an Antiviral Immunity in Mammals       » Singaporeans' Pain Costs Economy USD 6.2 billion Each Year       » China Fights Academic Paper Fraud After Peer Review Scandal       » Human Heart Tissue Grown from Stem Cells Improves Drug Testing       » Bioengineered Human Livers Mimic Natural Development       » Does Consuming Low-Fat Dairy Increase the Risk of Parkinson's Disease?      
EYE ON CHINA
Eddingpharm acquires global rights to oncology assets, including Telatinib, from ACT Biotech
Eddingpharm, a Chinese specialty pharmaceutical company, has signed an asset purchase agreement (APA) with ACT Biotech, Inc., a biopharmaceutical company based in the United States. Eddingpharm acquired worldwide rights to three small molecule drug assets (Telatinib, ACTB1003, and ACTB1010) and other molecules from ACT Biotech. Eddingpharm made an upfront payment to ACT Biotech upon the closing of the transactions contemplated under the APA. ACT Biotech is also eligible to receive clinical, regulatory, and commercial milestone payments. The total consideration, including the upfront payment, may reach up to U.S. $95 million.

The lead asset, Telatinib, is a VEGFR inhibitor ready for Phase III development for gastric cancer. The other two programs ACTB1003 (FGFR/VEGFR2 inhibitor) and ACTB1010 (Aurora kinases inhibitor) are in Phase I-ready and preclinical stages, respectively. Eddingpharm plans to initiate trials for Telatinib in China and continue the development that ACT Biotech started in the U.S. Eddingpharm also intends to take the other two assets into clinical development in either the U.S. or China.

Eddingpharm founder and CEO Xin Ni commented, "Eddingpharm is pleased to expand its oncology portfolio by acquiring global rights to these three promising compounds. We look forward to resuming ACT Biotech's work by advancing these important drugs to the next phase of trials in the U.S., China, and beyond."

This transaction represents the next step in Eddingpharm's growth strategy and commitment to oncology. Owning the global rights to these innovative products will allow Eddingpharm to optimize its development strategies for China and the rest of the world.

Bernard Peperstraete, MD, Acting President and Chief Executive Officer of ACT Biotech commented, "We believe that this transaction represents an attractive opportunity for ACT Biotech, its stockholders and for cancer patients, and we are delighted that ACT's promising oncology portfolio will be further developed by such a strong and internationally well-positioned partner."John Costantino, managing partner at NGN Capital, ACT Biotech's lead investor, noted, "Eddingpharm's experience in commercializing oncology products promises to accelerate and further unlock the full potential of these potent cancer compounds."

Source: PR Newswire

Click here for the complete issue.

NEWS CRUNCH  
news Nestlé Introduces their Singapore R&D Centre
news Vitafoods Asia Elevates 2017 Learning Programme
news The Seventh International Meeting on Synthetic Biology (SB 7.0)
PR NEWSWIRE  
Asia Pacific Biotech News
EDITORS' CHOICE  

Lady Ganga: Nilza'S Story
COLUMNS  
Subscribe to APBN E-Newsletter
Find us under 'Others' option to receive APBN e-newsletters thrice a month!

APBN Editorial Calendar 2017
January:
Healthcare Focus: LUNGS
February:
War on CANCER
March:
Get to Know TCM
April:
Diabetes: The Big Picture
May:
The Piece of Your Mind - Brain Health/Science
June:
Advocacies in Support of Rare Disease Patients
July:
Food Science & Technology
August:
Eye – the Window to your Soul
September:
Emerging Infectious Diseases
October:
No. 1 Killer — Heart Diseases
November:
Diseases threatening our Children
December:
Skin Diseases/Allergic Reactions
Editorial calendar is subjected to changes.
MAGAZINE TAGS
About Us
Events
Available issues
Editorial Board
Letters to Editor
Instructions to Authors
Advertise with Us
CONTACT
World Scientific Publishing Co. Pte. Ltd.
5 Toh Tuck Link, Singapore 596224
Tel: 65-6466-5775
Fax: 65-6467-7667
» For Editorial Enquiries:
   biotech_edit@wspc.com or Ms Carmen
» For Subscriptions, Advertisements &
   Media Partnerships Enquiries:
   biotech_ad@wspc.com
Copyright© 2017 World Scientific Publishing Co Pte Ltd  •  Privacy Policy