NiKang is eligible to receive an upfront collaboration fee and milestone payments of more than $100 million plus royalties on future net product sales
SHANGHAI & WILMINGTON, Del.--(BUSINESS WIRE)--Hansoh Pharmaceutical Group Company Limited (“Hansoh Pharma”), a leading biopharmaceutical company in China, and NiKang Therapeutics, Inc. (“NiKang”), a U.S.-based early stage biotech company focused on discovering and developing innovative small molecule medicines to help patients with unmet medical needs, today announced a collaboration focused on development and commercialization of NKT-1992 – a small molecule in preclinical development – for viral infection in China, Taiwan, Hong Kong, and Macau (“Greater China”).
Under the terms of the collaboration, NiKang is eligible to receive an upfront collaboration fee and additional payments contingent on certain development, regulatory, and commercial milestones, potentially totalling more than $100 million, plus tiered royalties on net sales. Hansoh Pharma will be responsible for leading development and commercialization of NKT-1992 in Greater China.
“We are excited to be entering into this partnership with Hansoh Pharma to progress NKT-1992 in China, where there is a significant unmet medical need for the treatment of viral infections. We look forward to working in close collaboration with Hansoh to bring this innovative anti-viral drug to patients in China as rapidly as possible,” said Zhenhai Gao, Ph.D., Co- Founder and President of NiKang.
“We are very pleased to partner with NiKang, a company that has demonstrated impressive capabilities in drug discovery,” said Rudi Bao, M.D. Ph.D., SVP of Hansoh R&D. “Despite significant advances in prevention and treatment options, viral infections continue to cause broad public health challenges around the world; we look forward to working with NiKang and continuing to tackle debilitating infectious diseases by developing life-changing medicines.”
Discovered through structure-based design, NKT-1992 targets a highly conserved enzymatic domain that is critical for viral transcription and replication. Inhibition of this mechanism of action can potentially achieve faster reduction of viral load and associated signs and symptoms.
ABOUT HANSOH PHARMACEUTICAL GROUP COMPANY LIMITED
Hansoh Pharma (3692:HK), a leading biopharmaceutical company in China, is committed to discovering and developing life-changing medicines to help patients conquer serious diseases and disorders. Hansoh Pharma has over 9,000 dedicated employees in China and the United States.
Founded in 1995, Hansoh has fully integrated research and development, manufacturing, and commercial capabilities, supporting a leadership position in oncology, central nervous system (CNS) disorders, infectious diseases, gastrointestinal disorders, diabetes, and autoimmune diseases, among others. With 1,200 professionals across R&D, Hansoh has developed several internally discovered drug candidates into NMPA-approved innovative medicines including morinidazole (迈灵达®), a third-generation nitroimidazole antibiotic; PEG-loxenatide (孚来美®), the first once-weekly long-acting GLP-1 analogue discovered and developed in China for the treatment of diabetes; flumatinib (昕福®), a second-generation BCR- ABL inhibitor for frontline treatment of chronic myeloid leukemia (CML); and almonertinib (阿美乐®), a third-generation EGFR inhibitor for the treatment of NSCLC.
For more information, please visit www.hspharm.com.
ABOUT NIKANG THERAPEUTICS, INC.
NiKang Therapeutics, headquartered in Wilmington, DE, USA, is an early stage biotech company focused on discovering and developing innovative small molecule oncology medicines to help patients with unmet medical needs. NiKang’s target selection is driven by deep insights into disease biology and molecular pathways. NiKang’s discovery approach is informed by target structure biology and capitalizes on structure-based drug design. The successful implementation of this strategy enables NiKang to rapidly and efficiently discover and advance proprietary drug candidates with the most desirable pharmacological features into clinical studies. NiKang strives to bring transformative medicines to patients in need.
For more information, please visit http://nikangtx.com/
For Hansoh Pharma: Investor Relations Sophia Dong firstname.lastname@example.org
Global Business Development Paul Lu email@example.com
For NiKang Therapeutics: Business and Scientific Operation Jessica Liu Jessica.firstname.lastname@example.org