Genexine Inc. (KOSDAQ: 095700), a clinical stage biotechnology company developing innovative biologics, today announced that it has entered into a license agreement with Shanghai ChemoWanbang Biopharma Co., Ltd. (ChemoWanbang), a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd., for development and commercialization of GX-E2 (EPO-hyFc), a novel Fc-engineered (hyFc) long acting EPO, for anemia due to chronic kidney disease and chemotherapy.
Shanghai Fosun Pharmaceutical Co., Ltd is a China-based company engaged in research, development, production and sale of pharmaceuticals. The Company operates various subsidiaries in the area of manufacture, commercialization, diagnosis, device and hospital services.
GX-E2, currently in phase II clinical trial in Korea, was created by Genexine and co-developed by Genexine and Green Cross (KOSPI: 006280). GX-E2 has semi-monthly and monthly dosing regimen for maintenance therapy. Under the terms of the agreement, ChemoWanbang will have the right to develop and commercialize GX-E2 in the territory of China, excluding Hong Kong, Macau and Taiwan. Genexine will receive clinical and commercial milestones up to USD$44.5 million plus sales-based royalties under the terms thereof. Further financial details are not disclosed. The GX-E2 as a new drug entity has been co-developed between Genexine and Green Cross since 2006. It's considered the good example of open-innovation as a result of collaboration between big pharma and bio venture.
Genexine CEO, Dr. Keyoung stated "We are thrilled to collaborate with Fosun Group's ChemoWanbang on the development of long-acting EPO therapeutics that incorporate the Genexine's hyFc platform to help millions of anemia patients in China. We expect a great synergy between our GX-E2 and ChemoWanbang's strength in biopharmaceutical development and commercialization in China to offer longer and better EPO therapeutics to the patients in China"
Currently Korean Phase II study is being conducted through collaboration between Genexine and Green Cross and the study was selected for Innovative Medical Technology Development Program by Korean Ministry of Food and Drug Safety in 2014.
About Fosun Pharmaceuticals:
Established in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. is a leading listed company in China's pharmaceutical industry and was listed on Shanghai Stock Exchange in August 1998 (600196-SH, 02196-HK). Its main business includes pharmaceutical manufacturing, healthcare services; diagnostic products and medical devices. Fosun focus on innovative research and development in therapeutic areas such as metabolism and alimentary tract, cardiovascular system, central nervous system, anti-tumor as well as anti-infective treatment. In 2014, Fosun Pharmaceuticals recorded revenue of 12.03 billion RMB.
Genexine, Inc. is a leading biotherapeutics company focused on Cancer and Orphan disease. Genexine has robust pipelines in clinical and pre-clinical stages based on long-acting Fc fusion technology and therapeutic DNA technology. In clinical stage, Genexine has GX-H9 (hGH-hyFc) for both adult and pediatric hGH deficiencies, currently in phase II trial in EU and Korea after completion of EU Phase I. GX-G3 (G-CSF-hyFC) for chemotherapy-induced neutropenia is in Phase II in EU and Korea. GX-188E therapeutic DNA vaccine for HPV associated diseases is in Phase II in Europe and Asia. Founded in 1999, Genexine consists of about 130 employees and more than half are scientists with MSc or PhD. Genexine is located in Pangyo Techno Valley next to Seoul, Korea and listed in KOSDAQ (095700).
About Green Cross Corporation:
Green Cross Corporation (Green Cross) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in South Korea, Green Cross is the largest plasma protein product manufacturer in Asia and has been dedicated to quality healthcare solutions for nearly half a century.