On February 28, Huadong Medicine Co.Ltd(000963) announced that it had signed an equity investment agreement and a product exclusive license agreement with Heidelberg Pharma, a German pharmaceutical company, and Huadong Medicine Co.Ltd(000963) would acquire 35% of Heidelberg Pharma at a price of 6.44 euros per share, becoming its second largest shareholder with an equity investment of 105 million euros.
At the same time, Huadong Medicine Co.Ltd(000963) will obtain the exclusive development and commercialization rights of two products under development hdp-101 and hdp-103 of Heidelberg Pharma in 20 Asian countries and regions Huadong Medicine Co.Ltd(000963) will pay Heidelberg Pharma a down payment of US $20 million, milestone payments for development, registration and sales up to US $449 million, and graded net sales royalty. In addition, Huadong Medicine Co.Ltd(000963) will also obtain the exclusive option of two other products under development hdp-102 and hdp-104 of Heidelberg Pharma, as well as the priority negotiation right of two subsequent products under development.
It is reported that Heidelberg Pharma is one of the top biotechnology companies in ADC drug research and development in the world. It has rich innovative product pipelines and has unique advantages in ADC drug development. The management team has deep professional background in biopharmaceutical and rich operation management experience.
This Huadong Medicine Co.Ltd(000963) introduces two innovative ADC products from Heidelberg Pharma, in which hdp-101 targets BCMA. At present, overseas phase I / IIa clinical trials for the treatment of recurrent / refractory multiple myeloma are being carried out, and the first subject administration has been completed on February 15, 2022; Hdp-103 targets PSMA (prostate specific membrane antigen). At present, preclinical research is being carried out. The target indication is metastatic castration resistant prostate cancer (mcrpc) Huadong Medicine Co.Ltd(000963) relevant person in charge said that through the driving mode of independent research and development and external cooperation, the company has formed a rich product pipeline in the field of cancer, with nearly ten global innovative drugs, covering the field of solid tumor and hematoma.
\u3000\u3000 “Through this transaction, the company will fully integrate its ADC R & D technology accumulation and the successful clinical development experience of mirvetuximab project with Heidelberg Pharma’s advanced proprietary ATAC technology platform, form Huadong Medicine Co.Ltd(000963) unique ADC global R & D ecosystem, build a world-class independent R & D industry platform in the ADC field, and continue to develop differentiated ADC innovation Drugs to bring better and more advanced treatment schemes to cancer patients. ” Huadong Medicine Co.Ltd(000963) relevant person in charge said.
