Mar. 5, 2012
March 6, 2012. Apexigen and Gansu Duyiwei Biological Pharmaceutical (GDBP) announced that they have entered into a collaboration to grant an exclusive license to GDBP to develop and commercialize APX004 in China. APX004 is a humanized monoclonal antibody directed against VEGFR2 for the treatment of certain cancers and angiogenic diseases. Under this agreement, GDBP will have an exclusive license and sole responsibility to research, develop and commercialize APX004 in China. Apexigen retains all rights to APX004 outside of China and will collaborate with GDBP to advance the development program. Under the terms of the agreement, Apexigen will receive an upfront payment, milestone payments on the successful achievement of regulatory milestones, and a royalty.