SAN DIEGO and TAIZHOU CITY, China, April 29, 2014 /PRNewswire/ -- Ambrx Inc. and Zhejiang Hisun Pharmaceutical Company Ltd. (SSE Code: 600267) today announced a collaboration for the development and commercialization of bispecifics based on Ambrx technology for the treatment of cancer. Hisun will have commercial rights to the products in China, while Ambrx will retain commercial rights outside of China and will be entitled to receive royalties on sales of the products in China. Hisun will manufacture the product to cGMP standards for clinical and commercial supplies on a global basis.
"This is a milestone for our company and a significant opportunity for us with Hisun as we develop bispecifics using our technology platform," said Lawson Macartney, Ph.D., Chief Executive Officer of Ambrx. "Hisun represents a strong strategic partner with the right regulatory and manufacturing expertise. We believe that this collaboration is additional validation of our technology platform and its potential for many clinical applications."
Hua Bai, Chief Executive Officer and Chairman of Hisun commented, "We are excited to partner with Ambrx, a prominent biotechnology company with a robust technology platform for the development of bispecifics. This partnership will help Hisun to expand our pipeline and advance our position in the biopharmaceutical industry across the globe."
Ambrx Inc. is a clinical stage biopharmaceutical company focused on discovering and developing first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates. The company is developing ARX201, a long-acting growth hormone that has successfully completed Phase 2b clinical trials. Ambrx has entered into ADC collaborations with Merck, Astellas, Bristol-Myers Squibb and Zhejiang Medicine as well as collaborations to discover and develop products incorporating Ambrx technology with Bristol-Myers Squibb, Eli Lilly and other undisclosed companies. Ambrx is advancing a robust portfolio of product candidates that are optimized for efficacy, safety and ease of use in multiple therapeutic areas.
For additional information, visit www.ambrx.com
About Zhejiang Hisun Pharmaceutical Company Ltd.
Founded in 1956, the mission for Zhejiang Hisun Pharmaceuticals Co., Ltd. (stock code 600267) hereinafter called "Hisun" is to be persistent in pharmaceutical innovation for humans' well-being. The company's vision is to become a widely respected global pharmaceutical provider. It focuses on the integration of pharmaceutical research and development (R&D) with production resources in order to provide its global customers with outstanding products and services. To date, over 40 of the company's products have passed certification by many regulatory agencies such as the FDA (U.S.), EDQM (EU), TGA (Australia) , and KFDA (Korea) and are sold to more than 30 countries worldwide.
SOURCE Ambrx Inc.