- Therapix Biosciences subsidiary OrImmune Bio has entered into a strategic collaboration with Nanjing BioSciKin Co to discuss an exclusive license to develop, manufacture and commercialize the company’s anti-CD3 antibody in China.
- As part of the agreement, Nanjing BioSciKin would provide a $300,000 cash payment, establish a GMP-compliant manufacturing facility and incur all commercialization costs.
- Several conditions apply to finalization of the agreement, including due diligence of the antibody and patent application in China.
- Therapix plans to focus their internal resources on development of their medical cannabis portfolio.
- The strategic move follows with the company’s recent $1.5 million investment in a medical cannabis company.
Therapix Biosciences (TASE:TRPX) has announced that its subsidiary, OrImmune Bio Ltd., has entered into a non-binding memorandum of understanding with Nanjing BioSciKin Co for a strategic collaboration to develop, manufacture and commercialize the company’s anti-CD3 antibody in the Chinese market, inclusive of Mainland China, Taiwan, Hong Kong and Macau. The anti-CD3 antibody is a unique, orally-administered antibody for the treatment of a variety of inflammatory diseases such as nonalcoholic steatohepatitis (fatty liver disease).
Pursuant to the memorandum of understanding, OrImmune and Nanjing BioSciKin are working toward an agreement that would provide Nanjing BioSciKin with an exclusive license to use OrImmune’s patents and related intellectual property for research, development, manufacturing, commercialization and sublicensing in the territory, in consideration for a cash payment of US $300,000. Additionally, Nanjing BioSciKin will be expected to finance the establishment of a GMP-compliant manufacturing line for the antibody. The parties will also enter into a nonexclusive supply agreement for the manufacture of the antibody (under FDA standards) for the purpose of conducting clinical trials, at a price to be determined between the parties. Nanjing BioSciKin shall incur all payments required in connection with and/or derived from the antibody’s commercialization, including payments to the Office of the Chief Scientist, to the extent required. Consummation of the engagements is subject to the satisfaction of several conditions, including the completion of due diligence to the satisfaction of the Chinese corporation, filing of patent applications related to the antibody in China, and the execution of final and binding agreements.
Therapix Chairman Dr. Ascher Shmulewitz commented,
“This agreement with Nanjing BioSciKin is an important step forward in the execution of our broader corporate strategy, which focuses on the development of novel synthetic cannabinoids and advancing our position in the emerging market for medical cannabis. With the involvement of Nanjing BioSciKin, we will ensure that the development of the anti-CD3 antibody will continue, supported by a highly capable and well-funded strategic partner. We look forward to working with Nanjing BioSciKin as they advance the product toward clinical trials in Greater China, while devoting all of our internal resources to the expansion and advancement of our portfolio of cannabinoid-based product candidates.”
Based in Tel Aviv, Therapix is a biopharmaceutical company focused on locating and investing in promising technologies in the biopharmaceutical field while promoting its current technologies. Therapix holds 25% of Lara Pharm, a company engaged in supply of medical and technological solutions for the development of a new generation of medication based on cannabinoids (active compounds in the marijuana plant) to pharma companies. Lara’s first product consists of a pharmaceutical substitution for medical marijuana. The company’s portfolio also includes an orally administered anti-CD3 antibody for the treatment of various inflammatory diseases such as nonalcoholic steatohepatitis (fatty liver disease).
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