Bayer AG (ETR: BAYN, OTCMKTS: BAYRY), a leading German pharmaceutical company, has announced a long-term collaboration with Jixing Pharmaceuticals, a China-based firm, following its leadership in a Series D financing round. The investment is being made in conjunction with RTW Investments, the fund that established and supported Jixing. Bayer’s venture arm, Leaps by Bayer, is contributing USD 35 million, while RTW is adding a further USD 127 million through the Series D round.
This strategic partnership grants Bayer the first right to negotiate the commercialization of Jixing’s pipeline, which includes therapeutics for cardiovascular disease (CVD) and ophthalmology. The two companies will collaborate closely on development efforts, establishing a joint portfolio strategy committee to explore additional business development opportunities. Zhou Xiaolan, Bayer’s Greater China and China head, will join Jixing’s board of directors.
Jixing, founded by RTW in 2019, has adopted a pure in-licensing model to build its pipeline. The public data indicates that the company has signed seven licensing deals for Greater China development rights to compounds from smaller foreign biotech firms. Partnerships include agreements with Cytokinetics Inc., Oyster Point Pharma Inc. (NSDQ: OYST), Milestone Pharmaceuticals Inc. (NASDAQ: MIST), and PhaseBio Pharmaceuticals, all U.S.-based companies. Currently, Jixing has seven candidates in late-stage clinical trials, comprising three CVD assets — aficamten, etripamil, and omecamtiv mecarbil — and four in the ophthalmology field: varenicline solution nasal spray/US brand name TYRVAYA, OC-02 nasal spray, JX06/LNZ100, JX07/LNZ101.- Flcube.com
