Tianjing Bio Signs 10 Billion Overseas Rights And Interests Transfer Order

Recently, Tianjing biology and Alberta jointly announced that they have established a broad global strategic cooperation relationship on the development and commercialization of innovative CD47 monoclonal antibody lemzoparlimab (tjc4), which is independently developed by Tianjing biology and used for the treatment of various cancers. Tianjing biology can obtain a milestone payment of up to 1.74 billion US dollars (about RMB 11.897 billion yuan) for cooperation with ebwi The potential total amount is close to 3 billion US dollars (about 20.495 billion yuan), setting a new record of rights and interests transfer of Chinese innovative pharmaceutical enterprises.

Zang Jingwu, founder, honorary chairman and director of Tianjing biology, told the 21st century economic reporter that at present, many innovative pharmaceutical associations of biomedical companies choose to carry out joint development and commercial cooperation with large companies, which can be more conducive to accelerating the implementation of innovative drugs. In the future, Tianjing biology and Abbott may expand cooperation to jointly develop other joint treatment schemes.

It is understood that with the development of biomedicine in China in recent years, many innovative drugs have gone abroad and authorized strategic cooperation with foreign companies. The head of the life sciences and pharmaceutical division of a consulting company pointed out to the 21st century economic reporter that in the future, with the increasing integration of China and the world, the mode of domestic pharmaceutical enterprises participating in global competition will become more and more diversified, and Chinese biomedicine will also move towards a rapid development channel.

Previously, Zhang Lei, founder and CEO of Hillhouse capital, pointed out at the 2020 Hong Kong Stock Exchange biotechnology summit that China's life science and biotechnology are in a "Cambrian" era of technological and product innovation.

Promoting the development of global commercialization

CD47 is a glycoprotein widely expressed on the surface of various cancer cells. It can release "don't eat me" signal by connecting with SIRP α on the surface of tumor phagocytes to prevent macrophage phagocytosis. CD47 blockade has been recognized as one of the most promising methods to destroy cancer cells to escape detection and attack. It is also considered by the industry as the next important target in the field of tumor immunity after PD-1 / PD-L1, and has become a global research and trade hotspot.

However, at present, no product targeting CD47 has been approved for marketing in the world, because when CD47 antibody attacks tumor cells, it will combine with normal red blood cells and cause hematological side effects, such as severe anemia, which hinders the research and development and clinical application of CD47 antibody as a cancer treatment method. However, more than 20 companies are still developing targeted products for this target Products.

Zang Jingwu introduced to the 21st century economic report that the current clinical research of lemzoparlimab has proved its advantages of differentiation. From the beginning of the design, we have considered how to avoid the side effects caused by antibodies in blood. It only slightly binds to red blood cells, while most other CD47 antibodies basically have strong binding with red blood cells.

It is understood that this time, Tianjing biology and Alberto will also jointly explore the synergistic effect of lemzoparlimab and Alberto venetoclax in the treatment of AML (acute myeloid leukemia) and MDS (myelodysplastic syndrome).

This is actually one of the reasons why Tianjing chose to cooperate with Aberdeen. Zang Jingwu explained to the 21st century economic news reporter that ebove has strong experience in the field of tumor immunotherapy, including how to design clinical programs, how to verify the safety and efficacy of innovative products through clinical verification. At the same time, cooperation also helps to improve Tianjing's biological technology and production capacity. "On the other hand, while cooperating with Abbott global interests, we can still maintain all rights in China. We hope to push the whole innovative drug products to the market in China."

In fact, in addition to the cooperation between Tianjing biological and large companies, domestic biomedical enterprises such as Baiji Shenzhou are also taking this way to promote the global commercial development.

In Zang Jingwu's opinion, the current mode of domestic biological enterprises is phased, because the whole innovative medicine industry in China is also developing rapidly, and it will be connected to global sales after a period of follow-up experience. "No matter how big pharmaceutical companies or big pharmaceutical companies are able to sell products in China, they are not only able to cooperate with big pharmaceutical companies in the United States, but also have the ability to sell large pharmaceutical products in China."

"Cambrian" era of biomedicine

According to reports, Tianjing biological's strategy is to directly complete the independent research and innovation projects in the United States, to prove the innovation, safety and partial efficacy of these innovative molecules, and then take the way of cooperation with large companies to promote the global listing.

At the same time, Tianjing biology also released financing news, saying that it has signed a final subscription agreement with the consortium composed of institutional investors, and will raise about $418 million through private placement ("pipe"), equivalent to the placement price of $33 per share.

Pipe is a common financing form in the field of global biotechnology, with high financing efficiency and certainty. The investor consortium is led by Hillhead capital, GIC (Singapore government investment company) is an important investor, in addition to orb capital, clear pool capital, etc.

It is understood that Tianjing biological plans to use the funds from this financing to promote the research and development of innovative drug pipelines and global clinical trials, as well as to expand its commercial capacity in China.

The above two news were announced at the same time. Zhu Jielun, chief financial officer of Tianjing biology, introduced to the reporter of 21st century economic report that there was certain relevance among them. From a strategic point of view, it was the recognition of Tianjing biological's R & D ability, including the ability to pursue global competitiveness, to be an innovative drug, and to affirm the ability of shareholders to create better value in the future. "Our global licensing deal and cooperation with Aberdeen should be the largest multinational foreign licensing strategic cooperation of Chinese biotechnology companies in history."

In fact, in addition to Tianjing biology, before that, Baiji Shenzhou also authorized new drugs developed by itself to Xinji, and legendary biology also authorized car-t to Johnson & Johnson. Not long ago, Cinda bio completed the authorization with Lilly for PD1, exporting Chinese innovative drugs to the world.

In recent years, China's biomedical innovation has developed rapidly, and the government has issued strong policies to encourage the development of innovative industries from multiple dimensions, and speed up the process of registration and listing. In this context, China's pharmaceutical pattern has also undergone significant changes, and a number of domestic innovative drugs have begun to emerge. For example, on December 20, 2019, Xuanning, a hypertension drug of Shijiazhuang Pharmaceutical Group, was approved by the food and Drug Administration of the United States, becoming the first innovative drug fully approved by the United States for local enterprises in China.

"From the current point of view, whether it is Chinese medicine, generic drugs, or innovative drugs, enterprises are gradually successful in exploring and familiarizing themselves with the laws and standards of overseas markets. In the future, with the increasing integration of China and the world, the mode of domestic pharmaceutical enterprises participating in global competition will become more and more diversified, including granting overseas companies the rights and interests license for overseas development of the project to overseas companies to jointly develop the international market, as well as other equity investments in foreign innovative pharmaceutical enterprises The person in charge of the life science and pharmaceutical division of the above consulting company analyzed to the reporter of the 21st century economic report.

In Zhang Lei's view, life science and biotechnology are expected to usher in the "Cambrian explosion". The reasons for this situation are as follows: first, in order to promote the introduction, research and development and protection of innovative drugs, the state has launched incentive policies in clinical trials, new drug approval, and new drug research and development; second, a large number of biochemical scientists have returned to China to start their businesses, bringing high-end technology, knowledge and talent dividends to China; finally, China's biopharmaceutical field has absorbed more and more talents The capacity of capital reached the first in the world last year, and it will go further with the support of innovative and long-term capital.

?