Taipei, Taiwan/ September 3rd, 2021
Allgenesis Biotherapeutics Inc., a Taiwan based specialty pharmaceutical company focused on developing novel ophthalmic drugs, announced today that it has entered into a licensing agreement with AffaMed Therapeutics for the development and commercialization of AG-73305 in Greater China, South Korea, and multiple ASEAN markets. AG-73305 is a first-in-class, bi-specific molecule that simultaneously binds to VEGF and integrins for treating diabetic macular edema (DME), neovascular age-related macular degeneration (nAMD), and other retinal diseases such as retinal vein occlusion (RVO), with US IND filing expected in early 2022.
“We are thrilled to have entered into a licensing agreement with AffaMed for the development of AG-73305 in Greater China. This is a significant achievement for our company”, said Dr. Madhu Cherukury, Chief Executive Officer of Allgenesis. “AffaMed is our partner of choice, given their demonstrated success in forming global partnerships in key therapeutic areas. We look forward to our collaboration by leveraging AffaMed’s development and regulatory expertise to accelerate the development of AG-73305 in Greater China.”
“AG-73305is an unique molecule which has demonstrated anti-angiogenic, -inflammatory and -fibrotic activity in pre-clinical models and has tremendous potential to replace existing therapies on the market. This is an exciting milestone for Allgenesis as we move towards the clinical stage of the project”, said Dr. Sunil Patel, Chief Medical Officer.
Dr. Dayao Zhao, CEO of AffaMed said: “We are excited to partner with Allgenesis to drive the clinical development of this next-generation biologic to treat various retinal diseases. By adding AG-73305 to our existing pipeline that range from anterior segment to ocular fundus, AffaMed will further strengthen its position in ophthalmology and be able to offer more treatment options to patients. ”
Under the terms of the agreement, Allgenesis is eligible to receive upfront, development, regulatory, and commercial milestone payments, as well as tiered royalties from future product sales. In exchange, Allgenesis agrees to grant AffaMed exclusive rights to develop and commercialize AG-73305 for the treatment of DME, nAMD, and all other ophthalmic indications in Greater China, which includes, Mainland China, Hong Kong, Macau, South Korea, and ASEAN Countries (Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam). Allgenesis will retain development rights for Taiwan, Japan, and other major markets (U.S. and E.U.).
About AffaMed Therapeutics
AffaMed Therapeutics is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs in ophthalmic, neurological and psychological disorders for patients in Greater China and around the world. The leadership team of AffaMed Therapeutics has gained deep industry expertise and an extensive track record in high-quality clinical development, regulatory affairs, CMC, business development and commercial operations at leading multi-national pharmaceutical companies in China and globally. AffaMed Therapeutics was founded and funded by the CBC Group in 2019.
About Allgenesis Biotherapeutics Inc.
Allgenesis is a clinical-stage biopharmaceutical company based in Taipei, Taiwan. The company is focused on research and development of novel medicines for the treatment of eye diseases. Current projects in the pipeline include AG-73305, a potential blockbuster drug for the treatment of DME, nAMD, and other retinal diseases such as RVO, AG-86893 for pterygium, and AG-80308 for Dry Eye Disease.
AG-73305 is a first-in-class molecule specifically designed for the treatment of DME, nAMD, and other retinal diseases such as RVO. AG-73305 is a single fusion protein that simultaneously binds with high potency and specificity to VEGF and integrins, which are known to be involved in retinal diseases. AG-73305 has the potential to treat anti-VEGF responders and non-responders.