Week In Review: Abpro Bio Signs $1.1 Billion Deal For China-Asian Rights To Two Bi-Specifics

Deals and Financings

Abpro Bio (KOSDAQ: 195990), a Korean company, announced a $1.1 billion agreement to acquire Asian rights (including China) to two bispecific antibody candidates being developed by Abpro of Boston (see story). Abpro Bio, known previously as Ugint (KOSDAQ: 195990), manufactures precision machine tools and was not involved in biopharma. It made a $30 million equity investment in Abpro and will be responsible for more than $1 billion in milestones and royalties. ABP-100 targets HER2 and CD3 to treat HER2+ solid tumors. ABP-201, with an angiogenesis mechanism, targets VEGF and ANG2 to treat vascular diseases of the eye.

3SBio (HK:1530) of Shenyang has invested in two new cancer funds that are based on research from Boston's Dana-Farber Cancer Institute (see story). MPM Capital announced it has closed the MPM Oncology Innovations Fund (INV) with $100M in capital, and the Dana-Farber Innovations Research Fund (IRF) with more than $26M in pledged donations. MPM said it expects 50% of the INV will back companies developing products developed out of Dana-Farber research. 3SBio is a limited partner in the INV and will donate to the INF, though details were not disclosed.

Realbio Technology, a Shanghai biopharma focused on the human microbiome, received a strategic majority investment from Shanghai Zhangjiang Haocheng VC (see story). Founded in 2014, Realbio offers an early screening test for colorectal cancer, Colowell®, and RealPathogen™, a high-throughput sequencing detection product for severe infections. The company plans a public listing in the future. Zhangjiang Haocheng is an investment platform of Shanghai Zhangjiang High-tech Development.

Beijing Shenogen Pharma in-licensed China-Asia rights from Alopexx Oncology of Massachusetts to a novel antibody-cytokine fusion protein (or immunocytokine) that targets the B cell antigen CD20 (see story). It is aimed at treating patients with relapsed or refractory B-cell CD20 positive lymphoma. DI-LEU16-IL2 recognizes the same target on B cells as Rituxan and maintains the activities of both the antibody and cytokine components. It is also expected to target the tumor, engage the immune system and induce a cancer-fighting vaccine effect.

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