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SEOUL, South Korea, Oct. 11, 2022 /PRNewswire/ -- HanAll Biopharma (KRX: 009420.KS), a global biopharmaceutical company developing innovative medicines, today announced that its licensed partner in greater China, Harbour BioMed, has signed an exclusive sublicense agreement with CSPC NBP Pharmaceutical Co., Ltd. (NBP Pharma), a wholly-owned subsidiary of CSPC, a RBM 28 billion 2021 sales company based in China, for HanAll's FcRn inhibitor batoclimab. The deal grants NBP Pharma the exclusive rights to develop and commercialize batoclimab in Greater China including mainland of China, Hong Kong, Macau, and Taiwan. Under the agreement Harbour BioMed will receive a total of over RMB 1 billion, including the RMB 150 million worth upfront payment along with the potential milestone payments.
"We are pleased to have reached this agreement with Harbour BioMed," said Cuilong Zhang, CEO of CSPC through the press release by Harbour BioMed. "Batoclimab is a promising innovative drug, and we hope to accelerate its clinical development, manufacturing, registration and commercialization in China, so as to benefit the patients in China better and earlier," he added.
"HanAll welcomes CSPC to join our journey to develop innovative medicines for patients in China. With its strong track records of R&D and commercialization, CSPC is expected to even further accelerate and expand the clinical development of batoclimab to contribute to autoimmune patients in China," said Sean Jeong, M.D., CEO of HanAll Biopharma.
About HanAll Biopharma Co., Ltd.
HanAll Biopharma (KRX: 009420.KS) is a global biopharmaceutical company founded in 1973, with a mission of making meaningful contributions to patients' lives by introducing innovative, impactful therapies to address severe unmet medical needs. HanAll has been operating a portfolio of pharmaceutical products in areas ranging from endocrine, circulatory, and urologic diseases for more than 49 years.
HanAll has also expanded its focus to ophthalmology, immunology, oncology and neurology to discover and develop innovative medicines for patients with diseases for which there are no effective treatments. A leading pipeline asset, HL161BKN (INN: batoclimab), an anti-FcRn antibody drug, is in Phase 3 and Phase 2 trials across the world for the treatment of rare autoimmune disorders including myasthenia gravis, thyroid eye disease, warm autoimmune hemolytic anemia, neuromyelitis optica, and immune thrombocytopenia. Another main asset, HL036 (INN: tanfanercept), an anti-TNF alpha protein drug, is in Phase 3 clinical trials in the US and China for the treatment of dry eye disease.
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Disclaimer statement
The contents of this announcement include statements that are, or may be deemed to be, "forward-looking statements." These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will," or "should" and include statements HANALL (the company, we) makes concerning its 2022 business and financial outlook and related plans, the therapeutic potential of its product candidates, the intended results of its strategy and the company, and its collaboration partners', advancement of, and anticipated clinical development, data readouts and regulatory milestones and plans, including the timing of planned clinical trials and expected data readouts, the design of future clinical trials and the timing and outcome of regulatory filings and regulatory approvals. By their nature, forward-looking statements involve risks and uncertainties, and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The company's actual results may differ materially from those predicted by the forward-looking statements as a result of various important factors our expectations regarding its the inherent uncertainties associated with competitive developments, preclinical and clinical trial and product development activities and regulatory approval requirements, our reliance on collaborations with third parties, estimating the commercial potential of our product candidates, our ability to obtain and maintain protection of intellectual property for its technologies and drugs, our limited operating history, and our ability to obtain additional funding for operations and to complete the development and commercialization of its product candidates. A further list and description of these risks, uncertainties and other risks can be found in Korea Stock Exchange (KRX) filings and reports, including in our most recent annual report as well as subsequent filings and reports filed by the company with the KRX. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. We undertake no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by Korean law and regulations.
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