AmMax Bio Enters into an Exclusive Option Agreement with Evopoint Biosciences to License a Next Generation Antibody Drug Conjugate (ADC) for the Treatment of Solid Tumors
This novel ADC is expected to have a wider therapeutic index and superior clinical profile across a broad range of solid tumors
IND submission is planned for mid-2023
REDWOOD CITY, Calif. and SUZHOU, China, Jan. 09, 2023 (GLOBE NEWSWIRE) -- AmMax Bio, Inc. (“AmMax”), a private clinical-stage biopharmaceutical company developing innovative therapeutics in oncology, and Evopoint Biosciences Co., Ltd (“Evopoint”), a leading biopharmaceutical company applying its cutting-edge platform technologies to discover and develop innovative medicines, today announced that AmMax has entered into an exclusive option with Evopoint for a worldwide license, excluding Greater China, for the development and commercialization of a novel ADC for treating solid tumors.
With its proprietary linker-payload system and monoclonal antibody, this technology has demonstrated robust antitumor activity in multiple preclinical models which presents significant opportunities to treat many different types of cancer. The animal efficacy and toxicity studies also support a significantly widened therapeutic index (TI) that is expected to provide a much-improved efficacy and safety profile.
“AmMax’s mission is to develop and commercialize oncology therapeutics that have the potential to become the new standard of care,” said Larry Hsu, Ph.D., Chairman & Chief Executive Officer of AmMax, “Today’s agreement with Evopoint underscores this commitment by adding a potentially best-in-class ADC program to our portfolio. We are excited to partner with Evopoint and, upon exercising the option, to move this highly differentiated drug candidate into patient studies in the second half of 2023.”
“We are very pleased to enter into this agreement with AmMax,” said Jason Meijie Le, Chief Executive Officer of Evopoint Biosciences. “Evopoint is dedicated to develop and deliver innovative medicines to physicians and patients. We are very impressed with AmMax’s therapeutic area expertise and proven track record in drug development and commercialization. We look forward to partnering with AmMax to advance this transformative product worldwide. This collaboration evidences the superiority of our product pipeline.”
Under the exclusive option agreement, the parties have pre-negotiated licensing terms and will work together to complete the upcoming IND filing and design subsequent dose-escalating clinical studies.
About AmMax Bio Inc.
AmMax is a private biotechnology company focused on the clinical development of innovative oncology products. AmMax is currently leveraging positive clinical data and an improved safety profile to advance AMB-05X for tenosynovial giant cell tumor (TGCT). AmMax is building on its core expertise to expand a clinical portfolio through in-licensing first-in-class and/or best-in-class oncology products in areas of significant unmet medical need. For more information, please visit the company’s website at www.AmMaxBio.com.
Evopoint Biosciences was founded by highly accomplished leaders in research and development, business and investment. The Company’s mission is to discover and develop transformative medicines to address significant unmet needs globally. Leveraging its world-class scientific platforms for targeted therapy, PROTAC and antibiotics, Evopoint has built a broad and innovative pipeline of 6 clinical and 15 pre-clinical candidates in oncology, anti-infectives, and metabolic diseases. Aiming to rapidly evolve into a leading global biopharma, Evopoint has established a highly efficient global research and development organization with presence in China, Australia, and the United States. To learn more, please visit www.evopointbio.com.
AmMax Bio, Inc.
Andrew Sauter, CFO
Evopoint Biosciences Co., Ltd
Xiaojun (Jun) Liu