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3SBio Inc. — Capital/Financing Update 2015
Oct 12, 2015
49981_rns_2015-10-11_3da9ec1a-5f87-478d-a645-3c909cdcf91f.pdf
Capital/Financing Update
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or on reliance upon the whole or any part of the contents of this announcement.
3SBIO INC.
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1530)
VOLUNTARY ANNOUNCEMENT
3SBio Inc. (the “ Company ”) is pleased to announce that it has entered into an exclusive licensing deal with Alteogen Inc. (“ Alteogen ”) (196170.KS), a Korean biopharmaceutical company devoted to develop long-acting biobetters, for the development, manufacturing and marketing of ALT-P7, a novel antibody-drug conjugate (“ ADC ”) targeting the human epidermal growth factor receptor 2 (“ HER2 ”) gene pathway for cancer in Mainland China, Hong Kong and Macau. The deal included upfront, milestone and royalty payments. This is the Company’s first business collaboration with Alteogen.
About ALT-P7
Approximately 20% of breast cancers and 15% of gastric cancers are characterized by amplification of the HER2 gene and over-expression of HER2. ALT-P7 is a novel ADC that binds and neutralizes HER2 resulting in sustained inhibition of tumor growth. ALT-P7, developed based on Alteogen’s proprietary NexMab™ ADC technology, is expected to be more efficacious and stable compared with the first generation ADC products. Preclinical proof-of-concept, including in vitro binding assays and in vivo efficacy in animal models, has demonstrated superiority of ALT-P7 over current drugs in murine models of HER2-positive breast cancer.
By Order of the Board 3SBio Inc. Mr. LOU Jing Chairman
Hong Kong, October 12, 2015
As at the date of this announcement, the board of directors of the Company comprises Mr. LOU Jing, Mr. TAN Bo, Ms. SU Dongmei and Mr. HUANG Bin as executive directors; Mr. LIU Dong and Mr. LV Dong as non-executive directors; and Mr. PU Tianruo, Mr. David Ross PARKINSON and Mr. MA Jun as independent non-executive directors.