Shanghai startup Antengene signs a strategic biopharmaceutical deal with Karyopharm
Jay May (left), chairman and CEO of Antengene, and Michael Kauffman, CEO of Karyopharm sign a strategic partnership deal in Shanghai today.
Shanghai biopharmaceutical startup Antengene signed a strategic collaboration with Karyopharm to commercialize four of the Nasdaq-listed firm's cancer drugs in China’s mainland and other Asian markets.
The collaboration seeks to shorten the approval timeline for innovative drugs, and to improve Chinese patients’ access to novel treatment, said Jay May, chairman and CEO of Antengene.
“This agreement with Karyopharm brings to our pipeline four promising, clinical-stage product candidates with broad applicability across multiple disease areas,' said May. "To complement the ongoing clinical development efforts by Karyopharm, Antengene may initiate additional clinical trials in diseases with high incidence in China and other Asian regions.”
Karyopharm will receive a one-time upfront payment of US$12 million from Antengene.
“This collaboration for additional territories in Asia complements our existing partnerships with Ono Pharmaceutical for selinexor and eltanexor in Japan, Taiwan, South Korea, Hong Kong and the ASEAN countries,” said Michael Kauffman, CEO of Karyopharm.
Antengene last year raised US$21 million in a series A funding from investors including VC Qiming Venture Partners, TF Capital, HG Capital and Tigermed Investment. The startup plans to file for new drug application in China in the third quarter of this year for a drug licensed by Karyopharm.
