We out-licensed our CTLA-4 antibody (AK107) to Merck for a total considerationof up to US$200 million. According to Frost & Sullivan, we are the first China-based biotech company to out-license a fully internally-discovered monoclonal antibody to a global leading pharmaceutical.
We have forged important partnerships, including the most recent one with Chia Tai Tianqing, the principal subsidiary of Sino Biopharm (stock code: 1177), for the joint development and commercialization of our PD-1 antibody drug candidate (penpulimab (AK105)) (the “Sino Biopharm Collaboration”). We believe this will help maximize the commercial value of our penpulimab (AK105), as Sino Biopharm has strong commercial capabilities, including one of China’s largest pharmaceutical sales forces of about 12,000 sales In addition, the Sino Biopharm Collaboration provides that our penpulimab (AK105) is the only PD- 1 antibody that Sino Biopharm can use to develop PD-1-based monotherapy or combinationtherapy.
To become a global leader in developing, manufacturing and commercializing innovative, next-generation and affordable therapeutic antibodies for patients wordwide.