Samyang Biopharm USA said Tuesday it has signed a deal to adopt a new immunotherapy candidate from U.S. biotech firm CanCure. Samyang Biopharm USA is a U.S. subsidiary of Samyang Biopharmaceuticals, a biomedical unit of Samyang Group.
|Samsung Biopharm USA CEO Lee Hyun-jung (left, front row) and CanCure President Jennifer D. Wu shake hands during their recent meeting.|
Under the agreement, Samyang Biopharm USA will hold the globally exclusive right to develop, manufacture, and commercialize the new drug candidate SYB-010, developed by CanCure.
CanCure said it planned to complete the non-clinical trial on the investigational drug with Samyang Biopharm USA and support Samyang Biopharm USA’s studies.
After the non-clinical trial, Samyang Biopharm will take full charge of all the activities related to SYB-010, such as a pre-clinical trial, investigational new drug (IND) application to the U.S. Food and Drug Administration, clinical trials, manufacturing, licensing, and commercialization. Samyang Biopharm USA plans to submit an IND application in 2021 and start trials as soon as it gets the nod.
Samyang Biopharm USA will make an upfront payment to CanCure, as well as future clinical, regulatory and sales milestone payments, and royalties on net sales worldwide. The two agreed not to disclose detailed numbers.
“We are thrilled to establish this alliance with CanCure, which developed a new immunotherapy candidate to reach IND-enabling studies,” said Lee Hyun-jung, CEO of Samyang Biopharm USA. “Based on the close cooperation between the two companies, we will recruit enough patients to develop an innovative drug that can contribute to the treatment of cancer patients worldwide.”
SYB-010 is a first-in-class antibody targeting a tumor-released immune-suppressive molecule, soluble MHC class I chain-related protein (sMIC). There is no authorized drug that targets sMIC.
“CanCure has high anticipation for Samyang’s research and development capability. Samyang Biopharm USA will be the best partner for the development of innovative medicine,” said Jennifer D. Wu, founder and president of CanCure. “We expect that Samyang Biopharm USA will prove SYB-010’s efficacy and safety in clinical trials.”
<© Korea Biomedical Review, All rights reserved.>