BioInvent Completes First Licensing Agreement in Greater China, Advised by MSQ Ventures
PR86341
NEW YORK, Oct. 29, 2020 /PRNewswire=KYODO JBN/ --
M.S.Q. Ventures ("MSQ") announced today that its client, BioInvent
International, AB ("BioInvent"), has successfully entered into a licensing
agreement with CASI Pharmaceuticals, Inc. ("CASI") for the development and
commercialization of BI-1206 in the Greater China region. BI-1206 is
BioInvent's proprietary clinical stage anti-FcãRllB antibody developed to treat
a variety of cancers including Non-Hodgkin's lymphoma and advanced solid tumors.
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Martin Welschof, Ph.D., CEO of BioInvent, stated, "The agreement is a further
validation of BioInvent's robust discovery platform and innovative clinical
program, where we welcome new opportunities to develop therapeutics for
patients in additional regions, as we did here for Greater China in partnership
with CASI." Dr. Welschof said, "MSQ team has been working seamlessly as our
external team focused on developing and executing China strategy and diligently
helped us identify, evaluate and advise on current and future strategic opportunities
to continue to expand BioInvent's capability to deliver for cancer patients in the region.
We appreciated MSQ's help so that we can complete this transaction smoothly and
expediently in mostly virtual fashion during this challenging time."
Wei-Wu He, Ph.D., Chairman and CEO of CASI, said, "Our goal at CASI is to
pursue innovative drugs to complement our core pipeline and therapeutic areas.
BI-1206's potential to be used in combination with leading immunotherapy agents
fits very well with our strategic thinking and is what attracted us to this
opportunity. We are impressed with BioInvent team's accomplishments to date and
we look forward to greater success together."
"BioInvent's lead asset BI-1206 is complementary to CASI's pipeline. The two
teams have a good cultural fit which is important for global clinical
development and commercialization of BI-1206. Clinical development in China
will accelerate BI-1206's overall global development timeline, creating
significant value," said Echo Hindle-Yang, CEO of MSQ. "We congratulate Martin,
Wei-Wu and the team of BioInvent and CASI on this remarkable achievement."
About MSQ
MSQ Ventures is a New York-based cross-border advisory firm that bridges the
healthcare industries globally by offering our deep knowledge, strong network,
and local insights into the China market. From understanding key segments of
the China healthcare market to identifying and vetting the high potential
counterparties to negotiating deals aimed at maximizing value creation, our
team focuses on results, prioritizes efficiency to guide our clients through
the entire process.
SOURCE: MSQ Ventures
CONTACT: Echo Hindle-Yang, CEO, MSQ, hindleyang@msqventures.com
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