China-based Shandong Buchang Pharmaceuticals Co., Ltd (SHA: 603858) has announced a co-development and licensing agreement with US-headquartered REMD Biotherapeutics Inc. and its subsidiary Sichuan Luzhou Buchang Biopharmaceutical Co., Ltd. Under the agreement, REMD Bio will grant Luzhou Buchang an exclusive license for REMD-290 in mainland China and Russia.
Agreement Details and Financial Terms
Luzhou Buchang will be responsible for the technical research, manufacturing, and commercialization of REMD-290’s derived molecules BC921 and BC922, both bispecific antibodies (BsAbs), in the licensed territories. The company will pay REMD Bio USD 14.2 million in milestone payments and additional sales commissions based on a predetermined ratio. The agreement also covers the development, regulatory filing, and clinical study expenses for these molecules.
Historical Background and Strategic Shift
In July 2018, Buchang Pharma’s subsidiary Shandong Danhong Pharmaceutical Co. Ltd had signed a technology development and program transfer agreement with REMD Bio, allowing the development of monoclonal antibodies (mAbs) targeting programmed-death ligand 1 (PD-L1). On November 25, Danhong Pharma transferred the REMD-290 program to Luzhou Buchang Pharma. Strategically, the company decided not to further develop and commercialize REMD-290 directly. Instead, it chose to focus on the research, development, manufacturing, and commercialization of the modified molecules BC921 and BC922, which are derived from REMD-290.-Fineline Info & Tech
