Abpro and NJCTTQ Forge Development Partnership Worth Up to $4 Billion

March 1, 2019

Abpro, a biotechnology company dedicated to developing next-generation antibody therapeutics to improve the lives of patients with severe and life-threatening diseases, and NJCTTQ, a global pharmaceutical company, today announced that they have entered into an agreement to develop multiple novel bispecific antibody therapies in immuno-oncology, including best-in-class T-cell engagers. The collaboration leverages Abpro’s proprietary DiversImmune™ antibody discovery platform.

Under the terms of the agreement, Abpro is eligible to receive up to $4 billion, including $60 million in near-term R&D funding, plus potential milestones and royalties. Abpro will retain all commercial rights for any approved molecules in geographies outside of China and Thailand, while NJCTTQ will retain rights in China. Abpro and NJCTTQ will collaborate globally to pursue pre-clinical and clinical development efforts and, ultimately, commercialization.

“This collaboration further validates our platform’s unique ability to develop best-in-class bispecific T-cell engagers, with significant potential to treat patients living with cancer,” said Ian Chan, executive chairman and co-founder of Abpro. “NJCTTQ has substantial clinical development and commercialization expertise that is highly complementary to our immuno-oncology development platforms as we focus on broadening our pipeline and expanding our ability to treat more patients globally. Our ex-China commercial rights have the potential to generate significant long-term value for our company. We intend to pursue additional similar development collaborations that leverage our innovative technology platforms and programs that include commercial rights in key global markets.”

Abpro develops therapeutic candidates for immuno-oncology using two proprietary platforms -- DiversImmune and Multimab. To date, the DiversImmune platform has generated antibodies for pharmaceutical and biotechnology companies against more than 300 unique targets. Abpro’s Multimab bispecific platform then enables the assembly of these antibodies into a variety of bi- and multi-specific antibody formats, tailored to each program. Abpro has leveraged the DiversImmune™ and Multimab  platforms to develop a pipeline of seven novel immuno-oncology therapeutic candidates, including best-in-class T-cell engagers, as well as programs in ophthalmology and autoimmunity.

Abpro is based in Woburn, Massachusetts. The company currently has six candidates in development. Most are in discovery or pre-clinical stages. NJCTTQ is based in Nanjing, China. The company focuses on vascular and infectious disease, oncology and products for surgery and anesthesia.



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