TAIPEI, Taiwan--(BUSINESS WIRE)--PharmaEssentia Corporation, (TPEx:6446), a global biopharmaceutical innovator headquartered in Taiwan leveraging deep expertise and proven scientific principles to deliver new biologics in hematology and oncology, today announced it has entered into a license agreement with WuXi Biologics Ireland Limited to obtain the global exclusive rights to research, develop, manufacture and commercialize a myeloid immune checkpoint antibody candidate. PharmaEssentia will take over responsibility for the subsequent preclinical and clinical development efforts.
“We are excited to expand our pipeline, which reflects our dedication to growing our research capabilities and delivering transformative healthcare solutions,” said Ko-Chung Lin, Ph.D., Founder and Chief Executive Officer, PharmaEssentia. “Entering into this agreement with WuXi Biologics perfectly aligns with our commitment to accelerate priority development programs across oncology, hematology and immunology. We're poised to pioneer breakthrough therapies and bring renewed hope to patients worldwide.”
“PharmaEssentia’s mission is to create best-in-class or first-in-class therapies by expanding our expertise to new drug modalities where we can have the greatest impact on patient lives,” said Lih-Ling Lin, Ph.D., Chief Scientific Officer, PharmaEssentia. “As one of the first programs that will be advanced by our global research and business development team, we are eager to apply our deep biopharmaceutical capabilities to better understand the clinical potential of this novel approach. We are committed to working urgently to advance this candidate, which has the potential to apply a new scientific breakthrough to create a treatment that helps alleviate the incredible medical burdens faced by patients living with solid tumors.”
As part of the agreement, PharmaEssentia will pay license fees to WuXi Biologics, including an upfront payment upon signing, future research, development, regulatory and sales milestones payments, and sales royalties.
About PharmaEssentia
PharmaEssentia (TPEx: 6446), headquartered in Taipei, Taiwan, is a global and rapidly growing biopharmaceutical innovator. Leveraging deep expertise and proven scientific principles, PharmaEssentia aims to deliver effective new biologics for challenging diseases in the areas of hematology, oncology, and immunology with one approved product and a diversifying pipeline. Founded in 2003 by a team of Taiwanese-American executives and renowned scientists from U.S. biotechnology and pharmaceutical companies, today PharmaEssentia is expanding its global presence with operations in the U.S., Japan, China, and Korea, along with a world-class biologics production facility in Taichung, Taiwan.
For more information on PharmaEssentia Corporation, visit our website.
Forward Looking Statement
This press release contains forward looking statements, including statements regarding our pipeline and research and development efforts. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and similar legislation and regulations under Taiwanese law. These forward-looking statements are based on management expectations and assumptions as of the date of this press release, and actual results may differ materially from those in these forward-looking statements as a result of various factors. These factors include risks and uncertainties related to the initiation, timing, progress and results of our research and development programs, preclinical studies, clinical trials, and regulatory submissions. Any forward-looking statements set forth in this press release speak only as of the date of this press release. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof.
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