On November 18, 2020 AUM Biosciences (AUM), a global, clinical stage healthcare company focused on discovering, acquiring and developing novel oncology therapeutics and Newsoara Biopharma reported that the companies have entered into a 5-year strategic partnership to co-develop up to 6 oncology drugs in AUM’s pipeline (Press release, AUM BioSciences, NOV 18, 2020, View Source [SID1234571396]).
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The partnership combines AUM’s world-class discovery and clinical development capabilities with Newsoara’s strong discovery, development, and manufacturing capabilities in China.
Under the terms of the Agreement, AUM will receive an undisclosed collaboration fee upon closing. AUM will license exclusive greater China rights of AUM001, AUM302 and AUM003 upon closing of this Agreement, and up to a further 3 candidates for a maximum of 6 oncology drugs.
AUM will receive up to $135 Million in near term development, regulatory, commercial milestones and up to double-digit royalty payments. Newsoara will be responsible for all development and commercialisation and will contribute for potential R&D funding for current and future investigational compounds in greater China.
AUM and Newsoara will co-discover and co-fund first-in-class therapeutics for mutually agreed novel targets. AUM retains worldwide rights ex-greater China and Newsoara retains greater China rights for these newly discovered compounds.
Newsoara’s CEO, Benny Li will join AUM’s Board of Directors.
"Newsoara is an ideal partner for AUM with its focus to provide novel and differentiated therapies for unmet medical needs in China ," said Vishal Doshi, CEO, AUM Biosciences. "This collaboration is foundational for AUM and will allow us to act as one team to maximize the clinical and commercial potential of AUM’s molecules, greatly amplifying and expediting the opportunities in our pipeline. This partnership accelerates AUM’s path to becoming an independent, fully integrated biopharmaceutical company."
AUM is building a diverse portfolio of small molecule therapeutics that target critical biological pathways. A core component of AUM’s strategy is mandating biomarkers and leveraging AI to systematically discover and develop targeted cancer therapies. Additionally, AUM has a strong focus on the development of intra-portfolio combinations that include small molecules. Through its "Asia to Global" Strategy, including this partnership, AUM will expedite drug development to meet unmet medical needs for patients globally.
"We are very pleased to build on Newsoara’s growing presence in China with this important new strategic collaboration with AUM," said Benny Li, CEO, Newsoara Biopharma. "Newsoara is committed to developing first-in-class programs for patients and our agreement with AUM further demonstrates that commitment. By gaining access to each other’s diverse pipeline and AUM’s clear strengths and world-class experts in discovery and development, we believe that our partnership with AUM will significantly accelerate our progress in developing next generation therapies for patients."