Feb. 10, 2010
3SBio Inc. (NASDAQ: SSRX), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing of biopharmaceutical products announced on February 8, 2010 a collaboration and license agreement with Panacor Bioscience Ltd. to develop and commercialize its Nephoxil® for the treatment of hyperphosphatemia in China. Under the terms of the agreement, Panacor Bioscience will grant 3SBio exclusive commercialization rights to Nephoxil in China against an upfront equity investment of US$1 million and royalties on future product sales.
This announcement was followed on February 11, 2010 by an additional announcement according to which 3SBio and Ascentage Pharma Group Corporation, Ltd. have formed a strategic alliance to research, develop and commercialize best-in-class targeted cancer therapeutics focusing on programmed cell death, or apoptosis. The alliance will leverage Ascentage Pharma's expertise in structure-based small molecule design, lead optimization and preclinical development with 3SBio's proven drug development and commercialization capabilities in China.
Under the terms of the agreement, 3SBio will make a US$3 million equity investment in Ascentage Pharma. The investment will be used to fund Ascentage Pharma’s R&D programs. 3SBio will have the exclusive right to develop and commercialize cancer therapeutics in China that are discovered through Ascentage Pharma programs, while Ascentage Pharma will retain the rights to the rest of the world and receive future milestone and royalty payments from any sales by 3SBio in China.