AUM Biosciences and Newsoara Biopharma announce partnership to co-develop up to six oncology drugs within AUM’s pipeline.
Clinical-stage biopharmaceutical company, AUM Biosciences, focuses on discovering, acquiring, and developing novel therapeutics in oncology. AUM utilizes AI-augmented platform to systematically discover and develop targeted cancer therapies focused on genetic targets.
Newsoara is an innovative clinical-stage biopharmaceutical company with a mission to develop and commercialize life changing medicines for cancer, autoimmune, metabolic and other major diseases to patients in China and around the world.
Both companies entered into a 5-year partnership since November 2020 to work together to bring first-in-class therapeutics based on mutually agreed novel targets. The partnership combines AUM’s world-class discovery and clinical development capabilities with Newsoara’s strong discovery, development, and manufacturing capabilities in China. Under the terms of the Agreement, AUM will receive an undisclosed collaboration fee upon closing. AUM will license exclusive greater China rights of AUM001, AUM302 and AUM003 upon closing of this Agreement, and up to a further three candidates for a maximum of six oncology drugs.
As part of the agreement for partnership, AUM will receive up to USD 130 Million in near term development, regulatory, commercial milestones and additional double-digit royalty payments. Newsoara will be responsible for all development and commercialisation and will contribute for potential R&D funding for current and future investigational compounds in greater China.
“Newsoara is an ideal partner for AUM with its focus to provide novel and differentiated therapies for unmet medical needs in China,” said Vishal Doshi, CEO, AUM Biosciences.
“This collaboration is foundational for AUM and will allow us to act as one team to maximize the clinical and commercial potential of AUM’s molecules, greatly amplifying and expediting the opportunities in our pipeline. This partnership accelerates AUM’s path to becoming an independent, fully integrated biopharmaceutical company.”
Newsoara’s CEO, Benny Li will join AUM’s Board of Directors.
“We are very pleased to build on Newsoara’s growing presence in China with this important new strategic collaboration with AUM,” said Benny Li, CEO, Newsoara Biopharma.
“Newsoara is committed to developing first-in-class programs for Chinese population and our agreement with AUM further demonstrate that commitment. By gaining access to each other’s diverse pipeline and AUM’s clear strengths and world-class experts in discovery and development, we believe that our partnership with AUM will significantly accelerate our progress in developing next generation therapies for Chinese patients.”
AUM Biosciences is currently establishing a diverse portfolio of small molecule therapeutics, targeting critical biological pathways. A core component of AUM’s strategy is mandating biomarkers and leveraging AI to systematically discover and develop targeted cancer therapies. Through this partnership, AUM looks to expedite drug development to cater to unmet medical needs for patients across the world.
AUM Biosciences will also be expanding its access to the world-renowned Suzhou biotech ecosystem, and boosts its strong discovery and significant manufacturing capabilities in Suzhou BioBAY to drive its “Asia to Global” strategy.