To speed up the development and commercialization and maximize the clinical and commercial value of our innovative products, we have been identifying strategic partners globally with high value-added potential to cooperate in partnership, joint venture, or licensing agreement.
In the different development stages of our company and products, we enhance our access through collaboration with Leading international and domestic pharmaceutical companies, including Merck, Summit Therapeutics, Dawnrays Pharmaceutical, Sino Biopharm, Pfizer, AstraZeneca, Chipscreen Biosciences, Duoning Biotechnology. In 2015，we out-licensed our CTLA-4 antibody (AK107) to Merck for a total consideration of up to US$200 million. According to Frost & Sullivan, we are the first China-based biotech company to out-license a fully internally-discovered monoclonal antibody to a leading global pharmaceutical. In December 2022, we out-licensed our breakthrough bispecific antibody, ivonescimab (PD-1/VEGF, AK112), with up to US$5 Billion to Summit Therapeutics for development and commercialization in the U.S., Canada, Europe, and Japan. Those agreements provide an expedited and winning pathway for our innovative drugs’ global development by partnering with world-class teams.
We have forged important partnerships, including with Chia Tai Tianqing, the principal subsidiary of Sino Biopharm, for the joint development and commercialization of our PD-1 antibody drug 安尼可® (penpulimab). We believe this will help maximize the commercial value of our penpulimab, as Sino Biopharm has solid commercial capabilities, including one of China’s largest pharmaceutical sales forces.
With more globally advanced potential FIC/BIC drug candidates into clinical development, including AK129(PD-1/LAG3), AK130(TIGIT/TGFβ), AK131(PD-1/CD73), AK132(Claudin18.2/CD47), AK117(CD47), we will continually integrate superior global resources and accelerate the global development of innovative drugs.
To become a global leader in developing, manufacturing and commercializing innovative, next-generation and affordable therapeutic antibodies for patients wordwide.