Innovent Biologics, Inc. (HKG: 1801), a leading biopharmaceutical company based in China, has announced a new set of agreements with IASO Biotechnology, a domestic firm, to adjust the terms of their earlier partnership. According to the new deals, IASO will acquire from Innovent its rights to the BCMA-targeted chimeric antigen receptor (CAR) T cell therapy Fucaso (equecabtagene autoleucel), including a license to all relevant intellectual property. Innovent will invest the full proceeds from this transaction into an 18% equity stake in IASO, with other financial details not disclosed.
Fucaso, which was jointly developed by Innovent and IASO Bio, received approval from the National Medical Products Administration (NMPA) on June 30, 2023, for the treatment of relapsed and/or refractory multiple myeloma (r/r MM) in patients who have undergone at least three lines of prior treatment.
Under the new strategic cooperation framework, IASO secures global commercial rights and the intellectual property license for Fucaso and will assume full responsibility for the development, manufacturing, and commercialization of the product. Concurrently, Innovent will become a strategic shareholder of IASO Bio.- Flcube.com
