Shanghai and Hangzhou, China — On February 28, 2022, Hangzhou Sumgen Biotech Co., Ltd. (hereinafter referred to as "Sumgen Biotech") and Shanghai Escugen Biotechnology Co., Ltd. (hereinafter referred to as "Escugen") entered into a strategic collaboration agreement to jointly develop a next-generation novel antibody-drug conjugates (ADCs).
According to the agreement both parties will jointly own the intellectual property generated through this collaboration world-widely and bear the costs of developing and commercializing specific products as well, exerting the full potential of the discovery.
Dr. Qing Zhou, founder and CEO of Escugen, said: "Escugen focuses on the research and development of monoclonal antibodies and innovative antibody-drug conjugates. Guided by clinical needs, we continuously create innovative products through a combination of target innovation, technical differentiation, and diversified clinical development paths. In the past few years, Escugen has accumulated extensive technical expertise and talent reserves in the ADC field. The company has conducted in-depth research in the area of novel antibody-drug conjugates and has advanced its ADC pipeline to the clinical research and development stage. Sumgen Biotech has keen insights into antibody pipeline planning and has accumulated substantial technical expertise. The collaboration between Escugen and Sumgen Biotech in the field of ADCs will expand our innovative achievements in the ADC field to a broader range of targets and clinical indications."
Dr. Ming Lv, founder and CEO of Sumgen Biotech, said: "Sumgen Biotech has always adhered to the principle of technology-driven product innovation. Based on our own innovations, we are as well actively introducing external state of art technologies to broaden the scope of our innovation. The collaboration with Escugen isan important milestone for Sumgen Biotech's strategic layout in the track of ADC. We have high expectations for Escugen's ADC technical know-how and R&D capabilities. The exploration of developing next-generation antibody therapies by both parties will provide more and better treatment options for patients worldwide."Copyright Rm. 301, F3, Building C, Block 2, No. 688, Bin'an Road, Changhe Zhejiang ICP Filing No. 18039044
