Akeso Biopharma (HKG: 9926) is poised to acquire a 35% stake in AD Pharmaceuticals Co., Ltd., a joint venture with Dawnrays Pharmaceutical (HKG: 2348), for a total consideration of RMB 267 million (USD 37.5 million). Upon completion of the transaction, AD Pharmaceuticals will become a wholly-owned subsidiary of Akeso.
AD Pharmaceuticals boasts two key assets: Ebronucimab, a PCSK9 monoclonal antibody currently undergoing marketing review in China for primary hypercholesterolemia, mixed hyperlipidemia, and heterozygous familial hypercholesterolemia; and pulocimab, a VEGFR-2 monoclonal antibody that is in a Phase II clinical trial for advanced gastric cancer, where it is being tested in combination with the bispecific antibody cadonilimab and chemotherapy. Additionally, AD Pharmaceuticals operates an antibody protein manufacturing facility located in Guangzhou.- Flcube.com
