Agreement will Enable Transcenta to Develop Novel Biotherapeutics for Bone Diseases in China
HONG KONG, SUZHOU, China and HANGZHOU, China, March 29, 2019 /PRNewswire/ -- Transcenta Holding (Transcenta) today announces that its wholly-owned subsidiary, HJB, has signed an exclusive agreement with Eli Lilly and Company (Lilly) to license a portfolio of novel biotherapeutics programs in the therapeutic area of bone diseases for development and commercialization in Greater China, including the phase 2-completed Blosozumab, a humanized antibody to sclerostin. Transcenta will be responsible for the overall preclinical/clinical development, regulatory filing and manufacture of these biologic therapeutics. As part of this transaction, Lilly will receive an upfront payment in cash plus equity shares in Transcenta, and will be eligible for potential regulatory and sales milestones, and commercial royalty payments.
Blosozumab has been studied by Lilly as a potential treatment for osteoporosis. It is the second novel biotherapeutics in anti-sclerostin class to have completed phase 2 clinical trials in the US and Blosozumab is expected to enter clinical trials in China next year. Several other novel biologic assets to treat bone diseases at earlier pre-clinical development stages are also included in this deal.
"We are excited to sign this license agreement with Lilly, a global leader in innovative medicines with successful experience in the area of osteoporosis. This license demonstrates our commitment to developing innovative medicines to meet unmet medical needs in China," Transcenta's Executive Chairman Dr. Jonathan Zhao emphasized.
"As a China-based biotherapeutics company, Transcenta is committed to discover and develop innovative medicines for meeting the unmet medical needs in China. China has a large number of patients with severe osteoporosis at risk of fracture. Our expertise in bone disease research and clinical development, process and manufacturing capability for antibody therapeutics, and strong investor support make us an ideal company to commercialize this innovative product in China," Transcenta's Chief Executive Officer Dr. Xueming Qian added.
"Lilly is committed to working with capable companies around the world to develop meaningful treatments for patients," said Ruth Gimeno, Ph.D., Lilly vice president of diabetes and metabolic research. "We believe this transaction with Transcenta offers a great opportunity to potentially help patients in China that have osteoporosis and other bone issues."
About Transcenta Holding Limited
Transcenta Holding Limited is a clinical stage biotherapeutics company with fully-integrated capabilities in research, development, regulatory and manufacturing of biologics. With five global sites, Discovery Research, Translational Research and Clinical Development Center in Suzhou, Process and Product Development Center and a next-Generation Manufacturing Facility in Hangzhou, and additional Clinical Development Centers in Shanghai, Beijing and Boston, US, Transcenta has over 10 innovative pipeline molecules in development in oncology and select non-oncology areas. Transcenta's mission is to deliver high quality innovative biologics at affordable price to patients around the world.