Partnership will exploit the potential of modernised Chinese traditional medicine to make new drug combinations
Biopharmaceutical company Pharnext has signed an agreement with Tasly Pharmaceutical, a group ranked among China's top 10 listed pharmaceutical companies.
Pharnext is working on a new approach to the development of drugs based on the combination and repositioning of known drugs.
The partnership includes three axes: a financial investment by Tasly in Pharnext; the development of a new pipeline of synergistic combinations through a shared platform; and the license of Pharnext's lead product for the Chinese market.
The partnership includes the creation of a research and development joint venture, owned 30% by Pharnext, to develop new combinations of molecules. Programmes will be pursued in several indications, primarily in cardiovascular and oncology therapeutic areas.
Both companies will share their expertise; Pharnext in the development of synergistic combinations of drugs and Tasly in the use of traditional Chinese medicine wealth.
There will be a licensing agreement for the development and commercialisation of the drug candidate PXT3003 for Charcot-Marie-Tooth type 1A disease on the Chinese market.
Yan Kaijing, Chair of Tasly Pharmaceuticals said: “The joint-venture we are creating has the potential to generate a robust pipeline of new therapeutics.”
“We will rely on Tasly's existing biomedical R&D platform and access to the Chinese hospital network, as well as Pharnext's R&D technological know-how to develop high-potential drug combinations.”
“Based on biological disease network pharmacology, this partnership will exploit the potential of modernised Chinese traditional medicine.”