20 November 2020 | News
Under the terms of the Agreement, AUM will receive an undisclosed collaboration fee upon closing
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AUM Biosciences (AUM), a global, clinical-stage healthcare company based in Singapore, focused on discovering, acquiring and developing novel oncology therapeutics and Chinese firm Newsoara Biopharma announced that the companies have entered into a 5-year strategic partnership to co-develop up to 6 oncology drugs in AUM’s pipeline.
The partnership combines AUM’s world-class discovery and clinical development capabilities with Newsoara’s strong discovery, development, and manufacturing capabilities in China.
Under the terms of the Agreement, AUM will receive an undisclosed collaboration fee upon closing. AUM will license exclusive greater China rights of AUM001, AUM302 and AUM003 upon closing of this Agreement, and up to a further 3 candidates for a maximum of 6 oncology drugs.
AUM will receive up to $135 Million in near term development, regulatory, commercial milestones and up to double-digit royalty payments. Newsoara will be responsible for all development and commercialisation and will contribute for potential R&D funding for current and future investigational compounds in greater China.
AUM and Newsoara will co-discover and co-fund first-in-class therapeutics for mutually agreed novel targets. AUM retains worldwide rights ex-greater China and Newsoara retains greater China rights for these newly discovered compounds.
AUM is building a diverse portfolio of small molecule therapeutics that target critical biological pathways. A core component of AUM’s strategy is mandating biomarkers and leveraging AI to systematically discover and develop targeted cancer therapies. Additionally, AUM has a strong focus on the development of intra-portfolio combinations that include small molecules. Through its “Asia to Global” Strategy, including this partnership, AUM will expedite drug development to meet unmet medical needs for patients globally.