Kadmon Announces Agreement With Jinghua Pharmaceutical Co. to Discover, Develop and Commercialize Antibody Product Candidates in China
- License Agreement to Develop Kadmon’s Anti-VEGFR2 and Anti-PD-L1 Monoclonal Antibodies for the Chinese Market Kadmon to Receive up to $50 Million in Payments
NEW YORK, NY--(Marketwired - Nov 20, 2015) - Kadmon Corporation, LLC today announced a new collaboration and license agreement with China’s Jinghua Pharmaceutical Co., Ltd., to discover, develop and commercialize Kadmon’s fully human anti-VEGFR2 and anti-PD-L1 monoclonal antibodies exclusively for Greater China. Kadmon has also licensed to Jinghua its technology and know-how to discover fully human monoclonal antibodies to develop further products for commercialization in the Chinese market.
Under the terms of the agreement, Kadmon has received a $10 million equity investment from Jinghua and has the potential to receive more than $40 million upon the achievement of key milestones as well as ten percent royalties on future net sales.
“This agreement highlights the value of Kadmon’s scientific work and the depth of our pipeline, including our biologics platform and these important product candidates,” said Harlan W. Waksal, M.D., President and CEO at Kadmon. “We look forward to working with Jinghua and are confident in their resources and expertise to bring these monoclonal antibodies to China.”
“We are pleased to partner with Kadmon to develop these VEGFR2 and PD-L1 monoclonal antibodies, which represent commercially validated targets for the treatment of cancer,” said Yunzhong Zhou, General Manager at Jinghua. “We believe that combining Kadmon’s platform with Jinghua’s capabilities will help us rapidly develop these assets for the Chinese market.”
About Kadmon Corporation
Kadmon Corporation, LLC is a fully integrated biopharmaceutical company focused on developing innovative products for significant unmet medical needs. We have a diversified product pipeline in autoimmune and fibrotic disease, oncology, genetic and metabolic diseases. For more information, visit www.kadmon.com.
This press release contains forward-looking statements. These forward-looking statements are based on management’s expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. The information contained in this press release is believed to be current as of the date of original issue. Kadmon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
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