R & D strength upgrading, Fosun Pharmaceutical Co acquisition of ambrx

Shanghai Fosun Pharmaceutical (Group) Co., Ltd., a leading pharmaceutical and health enterprise in China (hereinafter referred to as "Fosun Pharmaceutical" or "company"; Stock Code: 600196-sh, 02196-hk), Hopu investment, Everbright Holdings and Wuxi apptec today (May 22) announced an agreement with ambrx Inc (hereinafter referred to as ambrx) under which the above-mentioned institutions will purchase all shares of ambrx The transaction is expected to be completed in the second quarter of 2015, subject to the approval of the relevant regulatory authorities and the terms of the transaction Ambrx is a biotechnology company in the clinical research and development stage, which focuses on the discovery and development of innovative frontier protein drugs, namely biological conjugates (conjugates) Compared with previous generations of bio coupling technology, ambrx's proprietary technology platform can more accurately couple small molecules with drug activity to specific positions in protein macromolecules Ambrx has developed an innovative product line, including antibody coupled drugs, namely ADC, bispecific and multispecific antibody drug complexes, and long-term therapeutic proteins ADC is considered to be one of the important directions of monoclonal antibody development, especially in the field of tumor targeted therapy Ambrx has a strong internal tumor product line At present, its key product to promote R & D is a site-specific coupling ADC drug, mainly for HER2 positive breast cancer treatment In addition to ambrx's own product line, ambrx also cooperates with a number of world leading pharmaceutical companies, such as Bristol Myers Squibb, Merck, Lilly, etc., in a series of projects, including ADC tumor, bispecific coupling drugs, long-acting protein and other fields Ambrx's fastest-growing clinical product in the field of human health is arx618, a long-acting fibroblast growth factor for the treatment of type 2 diabetes Its partner, Bristol Myers Squibb, is conducting phase II clinical trials in the United States To date, all external cooperation projects have brought ambrx hundreds of millions of dollars in revenue Chen Qiyu, chairman of Fosun Pharmaceutical, said, "this joint acquisition will have a huge synergistic effect with the existing R & D system and platform of Fosun Pharmaceutical Upon completion of the acquisition, ambrx will obtain high-quality resources from its Chinese partners, further promote the technological innovation of its research center in the United States, and establish a global product development center based on China We believe that with the help of Fosun Pharmaceutical, ambrx's business development in China will enable Chinese patients to obtain innovative treatment drugs more quickly " Chen Qiyu further said, "this cooperation is a multi win, integrating all kinds of advantageous resources of China's leading pharmaceutical enterprises and the US's leading innovators of biotechnology, which is good news for Chinese patients; Fosun hopes to continue to bring the world's leading drugs and treatments to Chinese patients in the future." It is reported that Fosun Pharmaceutical has formed an international R & D layout and strong R & D capability It has established an interactive and integrated R & D system in Shanghai, Chongqing and San Francisco It has also built an efficient R & D platform in the fields of small molecule chemical innovative drugs, large molecule biological similar drugs, high-difficulty generic drugs, characteristic preparations (drug delivery technology), etc Up to now, Fuhong Hanlin, a macromolecular bio similar drug platform under Fosun Pharmaceutical, has completed clinical registration and application for 7 indications of 5 monoclonal antibody varieties "We are very pleased to work with the acquirers to advance ambrx's projects and technologies," said Dr Lawson Macartney, ambrx's CEO and president "I would like to thank ambrx's employees and partners for their efforts to bring new treatments to patients."