SUZHOU, China, Aug. 21, 2019 /PRNewswire/ -- Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops and commercializes high quality medicines, today announced that it has entered into a licensing agreement with Eli Lilly and Company (Lilly) for the development and potential commercialization of oxyntomodulin analog, OXM3, in China. OXM3 is a dual GLP-1 and glucagon receptor agonist that will enter China as a potential best-in-class, mid-stage clinical development diabetes compound. Financial terms of the agreement were not disclosed.
"Innovent is committed to develop and commercialize high quality biopharmaceuticals that are affordable to ordinary people. This license agreement marks an important step for Innovent as it strengthens our portfolio by adding a potential best-in-class clinical stage metabolic disease asset, and it broadens the therapeutic areas we cover to include diabetes," said Michael Yu, Founder, Chief Executive Officer and Chairman of Innovent. "Diabetes is recognized as the world's fastest growing chronic condition. China has a greater number of diabetic patients than any other country in the world with around 114 million people suffering from the disease. We are excited to license this molecule from Lilly, and we look forward to developing OXM3 as a potential innovative treatment that could address a significant unmet medical need in China."
OXM3 is an analog of the naturally occurring onxyntomodulin peptide, a hormone derived from post-translational processing of preproglucagon in the gut. Similar to the native peptide, OXM3 binds to and activates both the glucagon-like peptide 1 receptor (GLP-1R) and the glucagon receptor (GCGR). OXM3 has been engineered to be a long-acting molecule, suitable for once weekly injection. In early stage clinical trials, OXM3 has demonstrated potential for potent weight loss and evidence of improved glycemic control as well as long time-action suitable for weekly administration. OXM3 has the potential to be developed as an important therapy for diabetes, obesity and potentially nonalcoholic steatohepatitis (NASH).
Inspired by the spirit of "Start with Integrity, Succeed through Action," Innovent's mission is to develop and commercialize high quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to developing, manufacturing and commercializing high quality innovative medicines for the treatment of oncology, autoimmunity and other major diseases. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.
Since it was founded, Innovent has developed a fully-integrated platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. Leveraging the platform, the company has built a robust pipeline of 21 innovative assets in the fields of oncology, metabolic diseases and other major therapeutic areas. Sixteen assets have entered into clinical development, four have entered Phase 3 clinical trials, three monoclonal antibodies have their New Drug Application (NDA) under review and all of them have been granted with priority review status, and one, Tyvyt® (sintilimab injection), is now approved for relapsed or refractory classical Hodgkin's lymphoma (r/r cHL).
Innovent has built an international team of advanced talents in high-end biological drug development and commercialization, including many overseas experts. The company has also entered into strategic collaborations with Eli Lilly and Company, Adimab, Incyte, Hanmi and other international pharmaceutical companies. Innovent strives to work with all relevant parties to help advance China's biopharmaceutical industry, improve drug availability to ordinary people and enhance the quality of the patients' lives. For more information, please visit：www.innoventbio.com.
SOURCE Innovent Biologics, Inc.