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Betta Pharmaceuticals and Tyrogenex Signing to Access into Global Anti-tumor Drug Market
Form: Board Office   Date: 2017-08-26

    In the morning on August 25th, 2017 (EDT), Betta Pharmaceuticals and Tyrogenex concluded an agreement in Washington DC officially, witnessed by Che Jun, Secretary of Zhejiang Provincial Party Committee and Director of Standing Committee of Zhejiang Provincial People’s Congress, John Frisbie, President of US-China Trade Association, Dr. Samuel Broder, former director of American Cancer Center and other leaders and guests, to establish a JV named Equinox Sciences LLC Sciences LLC (Chinese name: 医科诺生物科技有限公司), to access into the global anti-tumor drug market. Dr. Ding Lieming, Chairman & CEO of Betta Pharmaceuticals, and Eric Richman, CEO of Tyrogenex, concluded the strategic cooperation agreement on behalf of both parties respectively. 


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Signing Site of Betta Pharmaceuticals and Tyrogenex 


    Tyrogenex is an American bio-pharmaceutical enterprise, specialized in the development of drugs targeted at VEGFR and PDGFR for AMD and solid tumors. X-82 (Vorolanib), which can be applied in the treatment of ophthalmic diseases, gastric cancer, lung cancer and multiple cancers. Equity of newly established Equinox Sciences LLC are held by Betta Pharmaceuticals and Tyrogenex by 50% respectively, which will join hands together to develop the global rights of Vorolanic compound for the treatment of tumor indications beyond China. The signing ceremony was highly praised by Samuel Broder, he said that Betta Pharmaceuticals had made an outstanding decision to cooperate with Tyrogenex, which would be of great significance for the long-term development of Betta Pharmaceuticals and achieve mutual benefits and development for both parties. 


    Previously, Betta Pharmaceuticals has reached a strategic cooperation with Tyrogenex to purchase the G-round preferred shares newly issued by Tyrogenex valued USD 10 million as the consideration to hold 7% of Tyrogenex’s shares. This is mainly aimed at developing the global rights of Vorolanic compound for ophthalmic indications beyond China. 


    “The second cooperation between Betta Pharmaceuticals and Tyrogenex is a win-win cooperation to further strengthen our relationship,” said Dr. Ding Lieming, The project of Vorolanib compound in China was named CM082, which was invented by Dr. Liang Congxin, a famous expert in medical chemistry with the patent right, development right, production right and marketing right of CM082 in China owned by Anew Pharmaceutical Science and Technology (Shanghai) Co., Ltd., a company established by a team of overseas returnees holding PhD degrees. In the first half of this year, Betta Pharmaceuticals spent RMB 480 million to purchase Anew completely and enjoyed all of its rights and interests of CM082 project in China. 


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A Group Photo of Dr. Ding Lieming, Dr. Broder and Senior Management of Tyrogenex


    Why did Betta Pharmaceuticals show the special preference to this project? Dr. Tan Fenlai, SVP & CMO of Betta Pharmaceuticals explained this secret. According to him, Vorolanib (CM082) is a multi-targeted small-molecule new drug, targeted at VEGFR, PDGFR, c-Kit, Flt-3 and CSF1R, with oral tablets as the clinical dosage form. Besides significant treatment targeted at VEGFR and PDGFR, CM082 has also overcome the highly toxic and side effect, common in similar category of targeted drugs, and improved the injection disadvantage of similar types of drugs, enjoying a broad prospect in the treatment for ophthalmic and kidney cancers in the future. 


    Furthermore, the clinical trial at present has shown the sound curative effect and safety of this compound. This June, an article themed Oral Tyrosine Kinase Inhibitor for Neovascular Age-Related Macular Degeneration: A Phase 1 Dose-Escalation Study, published in JAMA, an internationally famous medical journal, disclosed the results of Vorolanib Phase I clinical research on neovascular AMD treatment. The results have shown the soundly curative effect of application of taking oral medication of Vorolanib on 35 subjects suffering neovascular AMD and a preliminary curative effect of Vorolanib with 60% of subjects in no demand for additional anti-VEGF drug injection. Just as what Dr. Timothy L.Jackson, the leader of this research and ophthalmologist of King’s College London Affiliated Hospital and expert of retinal research, said, that “although it is just a safety research, the results have sufficiently shown the strong biological activity of Vorolanib. Current treatment for AMD indicates the repeated intraocular injection, which causes great troubles for both patients and doctors. Vorolanib, in the form of oral medication, is a breakthrough for AMD treatment.”


    At the same time, Phase III clinical trial of Vorolanic applied in advanced kidney cancer treatment has been led by Guo Jun, Vice President of Beijing Cancer Hospital, to be launched in nearly 30 research centers nationwide. 


    Betta Pharmaceuticals, as the leading enterprise of new drugs in China, has continued to strengthen the research and development of independent new drugs while launching a series of outstandingly effective strategic cooperations. In 2013, it cooperated with Amgen Inc. to establish a JV, Amgen-Betta Pharmaceuticals Co., Ltd. In 2014, it invested in Xcovery to jointly develop the new-generation targeted anti-tumor drug, Ensartinib (X-396), which has been involved in American Caner Moonshot Project. This year, Ensartinib has been approved to step into MRCT Phase III. If Conmana is the first small-molecule targeted anti-tumor drug based on China’s independent R&D, Ensartinib is expected to be the targeted drug launched in the global market simultaneously, dominated by China. Since its listing in November 2016, Betta Pharmaceuticals has further accelerated its progress in strategic cooperation. So far, it has over 20 new drug projects under research and development, in which 7 projects have stepped into the phase of clinical trial.


    Along with the accelerated progress of independent R&D and continued expansion of strategic cooperation, Betta Pharmaceuticals has increasingly enriched its R&D product lines. Currently, it has been deeply ploughing the anti-tumor market, laying a solid foundation to achieve its strategic vision as “turning into a transnational pharmaceutical company headquartered in China. 


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