SUZHOU, China and ROCKVILLE, Md., May 12, 2021 /PRNewswire/ -- Ascentage Pharma (6855.HK), a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, chronic hepatitis B (CHB), and age-related diseases, today announced that according to the latest semi-annual index review results announced by MSCI, a leading provider of index services and analytics, Ascentage Pharma has been selected as a constituent stock of the MSCI China Small Cap Index, effective after the market closes on Thursday, May 27, 2021.
The MSCI China Small Cap Index is designed to measure the performance of the small cap segment of the Chinese market. The index is comprised of companies with a healthy state of business and strong growth potential, and is widely adopted by the global investment community as a critical decision support reference. To stay up-to-date, the MSCI Indexes are reviewed and adjusted quarterly and semi-annually through the deletion and addition of constituent stocks.
After being included into three major indexes including Hang Seng Composite Index, and the Shenzhen-Hong Kong Stock Connect Program last year, this inclusion into the MSCI China Small Cap Index once again demonstrates the strong recognition of Ascentage's R&D capabilities, development strategies, value for investment, and growth prospect by the global capital market.
As the first Hong Kong-listed biotech stock focusing on innovative small molecule drugs, Ascentage Pharma has made significant progress in clinical development, external partnerships, and intellectual properties, and expanded global collaborations that are propelling the company further in its transition from an R&D-focused biotech to a full-fledged biopharmaceutical company with capabilities in R&D and manufacturing. In 2020, Ascentage Pharma submitted its first New Drug Application (NDA), and the NDA was subsequently granted Priority Review by China National Medical Products Administration (NMPA), setting a major milestone for the company. At the same time, the company is pressing forward to the commercial stage, in active preparation for the launch and clinical adoption of its novel therapeutics. In the past twelve months, Ascentage Pharma's four drug candidates was granted a total of 11 orphan drug designations (ODDs) by the US Food and Drug Administration (FDA), which is a record setting achievement demonstrated the company's robust capabilities in global research and development.
"This inclusion by the MSCI China Small Cap Index signifies the capital markets' recognition of and confidence in our business and growth prospect. It will help diversify our investor base, improve the liquidity of our stock, and further elevate our prominence in the global capital market," said Dr. Dajun Yang, Chairman & CEO of Ascentage Pharma. "Moving forward, we will continue leveraging our robust R&D capabilities, accelerate the global clinical development of our assets, and advance these assets toward NDA submissions, in an effort to soon make our novel therapeutics available to patients around the world and create value for our investors."
About Ascentage Pharma
Ascentage Pharma (6855.HK) is a globally focused, clinical-stage biotechnology company engaged in developing novel therapies for cancers, CHB, and age-related diseases. On October 28, 2019, Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 6855.HK.
Ascentage Pharma focuses on developing therapeutics that inhibit protein-protein interactions to restore apoptosis or programmed cell death. The company has built a pipeline of eight clinical drug candidates, including novel, highly potent Bcl-2, and dual Bcl-2/Bcl-xL inhibitors, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors (TKIs). Ascentage Pharma is also the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators. The company is conducting more than 40 Phase I/II clinical trials in the US, China, Australia, and Europe. Olverembatinib (HQP1351), the company's core drug candidate, developed for the treatment of drug-resistant chronic myeloid leukemia (CML), has been granted an Orphan Drug Designation (ODD) and a Fast Track Designation (FTD) by the US FDA. A New Drug Application (NDA) for olverembatinib has been submitted and subsequently granted Priority Review by the Center for Drug Evaluation (CDE) in China. To date, Ascentage Pharma has obtained a total of 11 ODDs from the US FDA for four of the company's investigational drug candidates.
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