Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Lee's Pharma affiliate China Oncology Focus has secured license from US-based Sorrento Therapeutics for its fully human immune-oncology anti-PD-L1 monoclonal antibody (mAb) STI-A1014.
Subscribe to our email newsletter
As part of the deal, Lee’s Pharma will have exclusive rights to develop and commercialize the antibody for the Chinese market, including Mainland China, Hong Kong, Macau, and Taiwan.
In return, Sorrento will receive an up-front payment, potential future milestone payments and high single digit to double digit royalties on future net sales of about $46m.
In addition, Lee’s Pharma will invest $3.6m by purchasing common stock in Sorrento at a substantial premium to the current market price.
Sorrento’s G-MAB library platform was used in the discovery and development of STI-A1014.
The company said that antibodies targeting CTLA-4, PD-1, and PD-L1, thus, harnessing the cancer patient’s own immune system for treatment of various solid and hematological malignancies have showed tremendous therapeutic potential rarely seen with conventional oncolytic drugs.
Lee’s Pharma chief executive officer and executive director Dr Xiaoyi Li said the company’s commitment to addressing high unmet oncology needs by bringing new effective immuno-oncology therapy to the Chinese market is reflected in this transaction.
"Sorrento’s antibody technologies as well as its therapeutic mAb programs are truly cutting edge," Li said.
"We expect to start a Phase 1 clinical trial of the anti-PD-L1 antibody in China in 2015."