NEWS & MEDIA
NEWS & MEDIA
Shanghai, 24 Jun 2019 – Shanghai Huaota Biopharmaceutical Co., Ltd (“Huaota”) today announced that it has entered a development, manufacture and commercialization collaboration with Junshi Biosciences (HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company in China, for HOT-1010 (Biosimilar of AvastinTM, VEGFR inhibitor).
Under the agreement, Huaota Biopharm will transfer 50% share of HOT-1010 and current research outcome of HOT-1010 to Junshi Biosciences with follow-up technical support. In return, Huaota Biopharm will receive transfer fee of RMB 90 million, and 50% of net profits after drug registration. Junshi Biosciences will be granted world-wide exclusive rights for production and commercialization in accordance with the agreement.
About HOT-1010:
HOT-1010 is a recombinant humanized anti-vascular endothelial growth factor (VEGF) monoclonal antibody, which has been approved for clinical trial by the Chinese Food and Drug Administration (now renamed the National Medical Products Administration). HOT-1010 is currently in Phase I clinical trial. HOT-1010 can selectively bind to human vascular endothelial growth factor (VEGF) and block its bioactivity. It is mainly used for the treatment of metastatic colorectal cancer and advanced, metastatic or recurrent non-small cell lung cancer.
Recently, Huaota and Junshi Biosciences signed the "Drug Technology Transfer and Cooperative Development Contract". According to the contract, Junshi Biosciences received the existing research and development results of Avastin biosimilar (project number HOT-1010) and its follow-up technical support from Huaota for 90 million yuan. After the successful registration of the drug, all operating profits generated by the drug will be distributed equally between Junshi Biosciences and Huaota.