Jiangsu Aidea Pharmaceutical Co., Ltd (SHA: 688488) has resolved to terminate its technology transfer agreement with Guangzhou Lixin Biological Technology Co., Ltd. concerning the drug candidate ACC006. Initially inked in December 2021, the agreement saw Aidea Pharma bestow upon Lixin Bio the rights to its cancer drug candidate ACC006 for a sum of RMB 100 million (USD 14 million). Following the termination, Aidea Pharma is required to return the initial technology transfer fee of RMB 30 million already received from Lixin. Lixin Bio, in turn, must relinquish all materials pertaining to the ACC006 project and finalize the relevant patent ownership transfer procedures. Any expenses incurred by Lixin Bio in the ongoing clinical research of ACC006 will be self-assumed, and Aidea Pharma is exempted from covering 50% of the R&D expenses and all other costs as per the original agreement.
ACC006 is recognized as a novel dual-targeted anti-tumor drug, targeting both the mTOR and Hedgehog pathways. While initially developed for treating tumors, ACC006 has shown promise in combating fungal infections in pre-clinical studies.- Flcube.com
