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SUZHOU, China and ROCKVILLE, Md., Nov. 21, 2019 /PRNewswire/ -- Ascentage Pharma (6855.HK), a globally-focused, clinical-stage biotechnology company engaged in developing novel therapies, announced that the groundbreaking ceremony for the Company's global headquarters, R&D center, and manufacturing facility took place today at the Suzhou Industrial Park (SIP). The ceremony marks another milestone in Ascentage Pharma's path of developing innovative therapies.
The groundbreaking ceremony for Ascentage Pharma's global headquarters is another landmark event for the Company, following its recent listing on the Main Board of The Stock Exchange of Hong Kong Limited on October 28, 2019. According to the plan, the global headquarters will cover an area of 95 acres. The global R&D center is positioned to drive strategic initiatives including to expand the research team for the design and optimization of new targeted drug candidates to enrich the Company's pipelines; to enhance the Company's research capabilities in translational medicine, biomarkers and clinical pharmacology, as well as in precision medicine and combination therapies; and to ultimately boost the success rate of the Company's drug development programs. The manufacturing facility will be built in compliance with the global cGMP standard to enable Ascentage Pharma's future expansion into the global market.
Ascentage Pharma is dedicated to the development of novel therapies for cancers, hepatitis B virus and age-related diseases, and it is a global leader in the research and development of therapeutics that inhibit protein-protein interactions to restore apoptosis, or programmed cell death. Ascentage Pharma has built a pipeline of eight drug candidates, and has initiated 28 Phase I/II clinical trials in the United States, Australia, and China. The Company plans to submit a New Drug Application, or NDA, next year for HQP1351, a third-generation BCR-ABL inhibitor for the treatment of drug-resistant chronic myeloid leukemia, which will hopefully become Ascentage Pharma's first product that receives NDA approval.
Dr. Dajun Yang, Chairman & CEO of Ascentage Pharma, commented: "SIP's policy support to the biotech sector and the outstanding talent pool in the SIP have greatly facilitated the growth and expansion of innovative biotech companies like us. Commencing the construction of Ascentage Pharma's global headquarters, R&D center, and manufacturing facility will provide significant tailwind to the Company's continued expansion, and it marks the beginning of our transition from a clinical-stage company to a player with a full spectrum of capabilities covering the entire value chain of the business. We hope that Ascentage Pharma will soon see its products reach the market and become a global company offering much needed new therapies to patients around the world."
About Ascentage Pharma
Ascentage Pharma (6855.HK) is a globally-focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, hepatitis B virus and age-related diseases. The Company focuses on developing therapeutics that inhibit protein-protein interactions to restore apoptosis, or programmed cell death. On October 28, 2019, Ascentage Pharma was listed on the Main Board of The Stock Exchange of Hong Kong Limited.
Ascentage Pharma has built a pipeline of eight drug candidates, including a novel, highly potent Bcl-2/Bcl-xL inhibitor, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors. The Company has conducted 28 Phase I/II clinical trials to evaluate the eight products in the United States, Australia and China, developing the potential therapies as a single agent or in combination.
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