MicroConstants China, Inc., a company that provides preclinical, clinical, and consulting services to biotechnology and pharmaceutical companies, has just announced it has acquired international rights to the development of AA98 antibody pipeline products, indicated for the treatment of several types of cancer, multiple sclerosis, and age related macular degeneration (AMD). MicroConstants signed the licensing agreement with the Institute of Biophysics (IBP) at the Chinese Academy of Sciences (CAS).
According to the terms of the agreement, MicroConstants will shoulder any development expenses, and release upfront and milestone payments in excess of 100 million Yuan RMB. IBP will also be eligible to receive royalty payments upon the successful advancement and worldwide distribution of any diagnostics and treatments derived from the acquired AA98 antibody — originally discovered by Professor Xiyun Yan.
According to a press release, AA98 works to block CD146, a co-receptor of vascular endothelial growth factor (VEGF), in order to suppress tumor growth. Some of the latest encouraging findings on AA98’s efficacy are published in Nature Communications, Blood and PNAS. Professor Yan also received a Scientific Achievement Award from the Beijing City government.
Prof. Yan, Xiyun, the Director of Key Laboratory of Protein and Peptide Drugs of IBP, is very pleased with the licensing agreement. “Through MicroConstants China’s well established global drug development network and its global GLP/GCP compliance quality system, we will be able to expedite AA98 antibody drug development efforts. This will become a new model for industry and academic collaborations and licensing.”
“The execution of this licensing agreement with IBP verifies our business model in drug incubation and is an important milestone for MicroConstants China,” said Dr. Q. David Yang, Chief Executive Officer of MicroConstants China. “CD146 is a novel potential drug target discovered by Chinese scientists and can be used for the screening of drug candidates for the diagnosis and treatment of variety of human disorders. As a world renowned scientist, Prof. Yan’s reputation is built upon her thoroughness in her research. Her work laid the foundation for the selection of AA98 antibody drug candidates. I am honored that Prof. Yan chose MicroConstants China as the partner for AA98 antibody development.”