Innovent and IASO Bio Enhance Strategic Collaboration in Cell Therapy

Rhea-AI Summary

Innovent Biologics and IASO Bio have announced a strategic collaboration in cell therapy. IASO Bio will acquire Innovent's rights to FUCASO® (Equecabtagene Autoleucel), including global commercial rights and intellectual property licenses. Innovent will gain an 18% stake in IASO Bio. FUCASO®, a CAR-T product approved in China and the world's first fully human CAR-T product, will be developed, manufactured, and commercialized by IASO Bio. This partnership aims to enhance resources and team integration, focusing on advancing innovative therapeutic solutions.

Positive

• IASO Bio acquires FUCASO® global commercial rights and intellectual property licenses.
• Innovent gains an 18% equity stake in IASO Bio.
• FUCASO® is the world's first approved fully human CAR-T product.
• FUCASO® is the first approved BCMA CAR-T product in China.
• FUCASO®'s IND application approved for treating refractory generalized myasthenia gravis (gMG) in China and the US.

Negative

• None.

SAN FRANCISCO and SUZHOU, China, July 5, 2024 /PRNewswire/ -- Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology and other major diseases, and IASO Biotechnology ("IASO Bio"), a biopharmaceutical company engaged in discovering, developing, manufacturing, and marketing innovative cell therapies and antibody products, jointly announced the agreement on a series of cooperation, including IASO Bio's purchase from Innovent regarding its relevant right of FUCASO® (Equecabtagene Autoleucel) and obtaining license from Innovent regarding the intellectual property related to FUCASO®, as well as Innovent's equity investment in IASO Bio.

According to the agreement, IASO Bio will purchase Innovent's relevant rights of FUCASO® under the original "BCMA CAR-T Cell Therapy Cooperation Agreement" at the agreed price and Innovent will use the proceeds to acquire an 18% stake in IASO Bio. Under the new strategic cooperation framework, the parties will achieve high-level integration in the field of cellular immunotherapy. IASO Bio obtains global commercial rights and the intellectual property license for FUCASO® and will be fully responsible for development, manufacturing and commercialization of the product, while Innovent becomes a strategic shareholder of IASO Bio.

FUCASO® was jointly developed by Innovent and IASO Bio and was approved by the National Medical Products Administration (NMPA) on June 30, 2023 to treat relapsed and/or refractory multiple myeloma (RRMM) patients who have undergone at least 3 lines of prior treatment and progressed. FUCASO® is the world's first approved fully human CAR-T product, as well as the first approved BCMA CAR-T product in China. On March 28, 2024, FUCASO® received the investigational new drug (IND) application for treating RRMM patients who have undergone 1-2 lines of prior therapies and are refractory to lenalidomide. In 2024, its IND application for the treatment of autoimmune diseases such as refractory generalized myasthenia gravis (gMG) has also been approved in both China and the United States.

Dr. Michael Yu, Founder, Chairman and CEO of Innovent, stated: "We appreciate IASO Bio for their expertise, innovation, and strong execution capability in the field of cell therapy. We believe that the new collaboration model will better leverage our mutual strengths and resources. The new model will endow more integrated resources and dedicated team in the full chain of manufacturing, development and commercial operation of CAR-T cell therapy as a special novel modality. Also, we will continue to support IASO Bio as a strategic shareholder. We look forward to working with IASO Bio to improve the accessibility of medications and bring hope to patients worldwide."

Ms. Zhang Jinhua, Founder, Chairwoman and CEO of IASO Bio, stated: "We extend our gratitude to Innovent for their recognition and trust in our research and development capabilities as well as our commercialization strength. Over the past six years, we have built a solid partnership with Innovent and witnessed each other's innovation and growth in the biopharmaceutical field. We firmly believe that this new strategic alliance will bring significant synergistic effects to both parties. We can fully leverage our strengths and work together to advance innovative therapeutic solutions. We will remain committed to our original mission of bringing more innovative treatments to patients and look forward to achieving mutual success in our future strategic partnership with Innovent."

About Innovent

Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched 10 products in the market. It has 4 new drug applications under regulatory review, 4 assets in Phase III or pivotal clinical trials and 18 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, Adimab, LG Chem and MD Anderson Cancer Center.

Guided by the motto, "Start with Integrity, Succeed through Action," Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit www.innoventbio.com, or follow Innovent on Facebook and LinkedIn.

About IASO Bio

IASO Bio is a biopharmaceutical company engaged in the discovery and development of novel cell therapies and biologics for oncology and autoimmune diseases. IASO Bio possesses comprehensive capabilities spanning the entire drug development process, from early discovery to clinical development, regulatory approval, and commercial production.

The pipeline in the company includes a diversified portfolio of over 10 novel products, including Equecabtagene Autoleucel (a fully human BCMA CAR-T injection). Equecabtagene Autoleucel received New Drug Application (NDA) approval from China's National Medical Products Administration (NMPA) and U.S. FDA IND approval for the treatment of RRMM.

Leveraging its strong management team, innovative product pipeline, GMP production, as well as integrated manufactural and clinical capabilities, IASO aims to deliver transformative, curable, and affordable therapies that fulfil unmet medical needs to patients in China as well as around the world. For more information, please visit http://www.iasobio.com or www.linkedin.com/company/iasobiotherapeutics.

Innovent's Forward-looking statement

This news release may contain certain forward-looking statements that are, by their nature, participant to significant risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Innovent Biologics ("Innovent"), are intended to identify certain of such forward-looking statements. The Company does not intend to update these forward-looking statements regularly.

These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of the Company with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are participant to risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, the Company's competitive environment and political, economic, legal and social conditions.

The Company, the Directors and the employees of the Company assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialise or turn out to be incorrect.

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SOURCE Innovent Biologics

FAQ

What is the significance of the Innovent and IASO Bio collaboration announced on July 5, 2024?

Innovent and IASO Bio announced a strategic collaboration where IASO Bio will acquire Innovent's rights to FUCASO® and Innovent will gain an 18% stake in IASO Bio.

What does IASO Bio acquire from Innovent in the new collaboration?

IASO Bio acquires Innovent's global commercial rights and intellectual property licenses for FUCASO®.

What stake does Innovent acquire in IASO Bio as part of the new agreement?

Innovent acquires an 18% equity stake in IASO Bio.

What is FUCASO® and its significance?

FUCASO® (Equecabtagene Autoleucel) is the world's first approved fully human CAR-T product and the first approved BCMA CAR-T product in China.

What approvals has FUCASO® received recently?

FUCASO® received an IND application approval for treating refractory generalized myasthenia gravis in both China and the US.