September 16, 2021 SinoMab, Evopoint and Everest Medicines Announce Licensing Agreement for Global Development and Commercialization of A Next-Generation BTK Inhibitor in Renal Diseases
On September 16, 2021, Shanghai andSuzhou China，Evopoint Biosciences Co., Ltd. (“Evopoint”), announcedwith SinoMab BioScience Limited (HKEX 3681.HK,"SinoMab" ) today thatthey have entered into an exclusive licensing agreement with Everest Medicines(HKEX 1952.HK,"Everest" ) to out-license the right to develop andcommercialize XNW1011 (referred as " SN1011" by SinoMab), a covalentreversible Bruton's tyrosine kinase (BTK) inhibitor, to Everest globally forthe treatment of renal diseases.
XNW1011 is a next-generation covalentreversible BTK inhibitor that exhibits high selectivity, excellentpharmacokinetics property, robust target engagement and a safety profile thatsupports continued development based in part on results from a completed phase Istudy with healthy subjects conducted by SinoMab in China.
XNW1011 is currently planned to initiatephase II clinical studies in multiple indications. Under the terms of theagreement, Everest will pay Evopoint and SinoMab USD $12 million in initialupfront payments and up to $549 million as future development, regulatory, andcommercial milestone payments, as well as high single-digit to low double-digitroyalties on global net sales.
"Evopointhas a wealth of experience in drug discovery and an expanding pipeline ofinnovative drugs," said Mr. Meijie Le, CEO of Evopoint. We are pleased toenter into this strategic partnership with Everest Medicines. Thiscollaboration is not only a recognition of XNW1011's potential as anext-generation covalent reversible BTK inhibitor, but also a recognition ofEvopoint's independent research and development innovation capabilities.Everest Medicines and Evopoint share the same commitment to accelerate thediscovery of new drugs and focus on unmet clinical needs. We share a commonculture of innovation and an efficient R&D system. We look forward to thiscollaboration with Everest Medicines achieving a breakthrough in the globalmarket while benefiting the vast patient population in Greater China andAsia."
About Evopoint
Evopoint is a global biopharmaceuticalcompany focused on discovery, development, and commercialization of innovativemedicines to address significant unmet clinical needs. Headquartered in Suzhou,China, the Company has established a highly efficient, fully integrated globalR&D organization with presence in China, US and Australia. Leveraging ourscientific expertise and proprietary discovery platforms, Evopoint hasdeveloped a robust and balanced pipeline, which consists of five first-in-classor best-in-class clinical programs, and many more preclinical programs. TheCompany's diseases areas of focus include oncology, metabolic and infectiousdiseases.
About SinoMab
SinoMab BioScience Limited (stock code:3681.HK) is dedicated to the research, development, manufacturing andcommercialization of therapeutics for the treatment of immunological diseases.The Company's flagship product SMO3 is a potential global first-in-target mAbagainst CD22 for the treatment of rheumatoid arthritis and is currently inPhase IlI clinical trial for rheumatoid arthritis in China, which has beenrecognized as one of the significant special projects of Significant New DrugsDevelopment of the Twelfth Five-Year Plan Period and the Thirteenth Five-YearPlan Period. In addition, the Company possesses other potential first-in-targetand first-in-class drug candidates, some of which are already in clinicalstage, with their indications covering rheumatoid arthritis, systemic lupuserythematosus, pemphigus vulgaris, non-Hodgkin's lymphoma, asthma, and otherdiseases with major unmet clinical needs.
About Everest Medicines
Everest Medicines is a biopharmaceutical companyfocused on developing and commercializing transformative pharmaceuticalproducts that address critical unmet medical needs for patients in Asiamarkets. The management team of Everest Medicines has deep expertise and anextensive track record of high-quality clinical development, regulatoryaffairs, CMC, business development and operations both in Asia and with leadingglobal pharmaceutical companies. Everest Medicines has built a portfolio ofnine potentially global first-in-class or best-in-class molecules and vaccine,many of which are in late stage clinical development. The Company's focusedareas of interest include oncology, autoimmune disorders, cardio-renal diseasesand infectious diseases.
