The deal give Tasly Biopharmaceuticals full control in Greater China to the development and commercial rights of the oncolytic virus T601 and the therapeutic vaccine T101
Transgene, a biotech company that designs and develops virus-based immunotherapies against cancers and infectious diseases, signed a series of agreements with Tasly Biopharmaceuticals involving T601 and T101, two immunotherapeutics developed by the Transgene-Tasly joint venture in China.
These products incorporate Transgene’s TG6002 and TG1050 technologies, respectively.
As a result of these agreements Transgene will receive shares in Tasly Biopharmaceuticals valued at $48 million. These agreements are designed to further deliver the potential of Transgene’s virus-based technologies in China.
Philippe Archinard, chairman and CEO of Transgene, added: “We are delighted to have signed these strategic agreements that create value for Transgene through our share ownership in Tasly Biopharmaceuticals and demonstrate the significant potential of the oncolytic virus T601 and therapeutic vaccine T101 in China."
"As a long-standing partner of the Tasly group, Transgene will remain involved in the further development of these products in China. We look forward to the first readout of the ongoing Phase I trial evaluating T101 against chronic hepatitis B, which is expected early 2019. In addition, a Phase I trial with the oncolytic virus T601 in China is actively being prepared.”
Kaijin Yan, Holding Group Executive Chairman of the Board of Tasly Pharmaceuticals, commented: “Our mission is to become a world-leading biotechnology company, dedicated to continuously offer high-quality and affordable drugs to patients."
"These new strategic agreements with Transgene provide us with the full development and commercial rights to T601 (through 100% ownership of the joint venture) and T101 in Greater China and will allow us to build a broad innovative product portfolio. We are very happy to welcome Transgene as a key supportive shareholder of Tasly Biopharmaceuticals.”