CANbridge Pharmaceuticals Inc., (HKG: 1228), a China-based pharmaceutical company specializing in rare diseases, has announced recent developments regarding its operations in the United States, where the company is considering scaling down its presence. The management has decided to terminate a licensing agreement with the University of Massachusetts (UMASS) that was signed in January 2023, which granted CANbridge global development, manufacturing, and commercialization rights to a second-generation gene therapy for spinal muscular atrophy. The cancellation of this early-stage product collaboration is not anticipated to impact CANbridge’s overall operations and is expected to ease the company’s liquidity concerns.
Furthermore, CANbridge will be terminating the lease for its office and laboratory in Boston, reducing its U.S. workforce to four full-time employees. The company’s commercialization pipeline and major late-stage research and development projects will now be conducted primarily in China.
According to the public data, CANbridge currently markets Livmarli (maralixibat) for the treatment of rare cholestatic liver diseases and Hunterase (idursulfase-beta) for Hunter syndrome (mucopolysaccharidosis type II).- Flcube.com
