- Huadong Medicine is granted from AKSO Biopharmaceutical an
exclusive right to develop and commercialize AB002 in the Asia
Pacific Ex-Japan region for solid tumors; AKSO Biopharmaceutical
to receive up to 75 million USD upfront, R&D funding, potential
regulatory and commercial milestone payments - Strategic partnership accelerates AB002’s development as a
first-in-class and potentially first-to-market novel molecule - Enables AKSO to access a critical and attractive market via
Huadong Medicine’s expertise and networks while augmenting Huadong Medicine’s
portfolio of innovative drug candidates
February 9, 2022
Los Angeles, London & Hangzhou – AKSO Biopharmaceutical, In. (“AKSO”), a global
biopharmaceutical company with an innovative and comprehensive approach to treat cancer,
autoimmune disease, and genetic disorder, and Hangzhou Zhongmei Huadong Pharmaceutical Co.,
Ltd., a wholly-owned subsidiary of Huadong Medicine Co., Ltd. (SZ.000963) (“Huadong Medicine”), a
leading pharmaceutical company in Asia, today announced that the companies have entered into an
exclusive collaboration to develop and commercialize AB002, a bi-functional fusion protein inhibiting
immune checkpoint and activating natural killer (NK) cells for the treatment of solid tumors, in the
Asia Pacific Ex-Japan region. AKSO will retain all rights to AB002 in the rest of the world.
This strategic collaboration enables AKSO to leverage Huadong Medicine’s leading expertise in
clinical development, regulatory approval, and commercialization to access the second largest
pharmaceutical market in the world, while augmenting Huadong Medicine’s portfolio of first-in-class
innovative drug candidates and further cementing Huadong Medicine’s leadership position in the
region.
“The strategic collaboration is an important milestone for AB002 as Huadong Medicine’s expertise
and experience in drug development, and mature clinical and sales network will enable us to
become the first to market in the critical region,” said Amato Giaccia, Ph.D., Senior Scientific
Strategist and Chairman of AKSO. “AB002 is a first-in-class molecule that leverages AKSO’s
proprietary DEEP platform to neutralize PD-L2 and PD-L1, while activating NK cells via an IL-15
agonist. This unique approach addresses the immune-suppressive environment frequently found in
patients not responding to immune checkpoint inhibitors. Furthermore, AB002’s precision cell
targeting ability promotes NK cell activation in the tumor microenvironment. We are excited to
partner with Huadong Medicine to accelerate AB002’s development and deliver this innovative
therapeutic to patients with unmet urgent needs.”
“AKSO Biopharmaceutical is a promising biopharmaceutical company innovating to treat cancer. AB002,
which is a dual-target bi-specific fusion protein, represents the addition of an exciting cancer
immunotherapy asset to Huadong Medicine’s increasing cancer therapy pipeline,” stated
Dongzhou J. Liu, Ph.D., Chief Scientific Officer of Huadong Medicine. “The cancer patient
population is substantial in China, with unmet medical needs. Leveraging Huadong Medicine’s R&D
capabilities, we will work closely with AKSO Biopharmaceutical to accelerate the development of
AB002 to benefit the cancer patients all over the world.”
Under the terms of the agreement, AKSO will be eligible to receive upfront and milestone payments
of up to $75 million, as well as royalties from future product sales. Huadong Medicine will be
responsible for clinical development, regulatory submissions and commercialization of AB002 in the
region and jointly steer IND-enabling tasks with AKSO via the Joint Research Committee. AKSO will
continue to be responsible for AB002’s development in the rest of the world.
AKSO is advised by Dragon Financial Partners Ltd. as financial advisor and Morrison Forrester LLP as
legal counsel.
ABOUT AB002
AB002 is a late preclinical stage first-in-class bifunctional fusion protein comprising of a DEEP-
engineered soluble PD-1 decoy receptor for immune checkpoint inhibition, and an IL-15 agonist for
NK cell activation. AB002 traps PD-L2 and PD-L1 with ultra-high binding affinities, while activating NK
cells with high precision and extended half-life.
ABOUT AKSO
AKSO Biopharmaceutical, Inc., is a late preclinical stage global biopharmaceutical company focused
on the discovery and development of first-in-class therapeutics for the treatment of cancer,
autoimmune diseases, and genetic disorder. Leveraging the proprietary DEEP engineering platform
and deep knowledge in disease biology, AKSO has developed a portfolio of innovative drug
candidates covering a wide range of modalities including decoy receptors, bispecific fusion proteins,
antibody-drug conjugates, and precision gene editing therapies. For additional information, please
visit www.aksobio.com.
ABOUT HUADONG MEDICINE
Huadong Medicine Co., Ltd. (SZ.000963) is a leading Chinese pharmaceutical company
headquartered in Hangzhou, China. Founded in 1993, Huadong Medicine has fully integrated R&D,
manufacturing, distribution, sales and marketing capabilities. Huadong Medicine’s product portfolio
and pipeline are specialized in oncology, immunology, nephrology and diabetes. The Company’s
annual revenue in 2020 exceeded 5 billion USD. Huadong Medicine has 11,000 employees among
which 1,200 are dedicated to R&D. Huadong Medicine possesses one of the most extensive
commercial coverage and marketing capabilities in China. ‘Patient Centered, Science Driven’ is
Huadong Medicine’s value. For additional information, please visit www.eastchinapharm.com/en.
INVESTOR RELATIONS AND MEDIA CONTACTS
AKSO Biopharmaceutical, Inc.
Rebecca Miao
IR@aksobio.com
Huadong Medicine
+86 571 8990 3300
ir@eastchinapharm.com
