[ET Net News Agency, 18 September 2018] Genscript Biotech (01548) said its indirect
wholly-owned subsidiary Nanjing Jinsirui Biotechnology (Genscript Nanjing) and Bliss
Biopharmaceutical (Hangzhou) (Bliss Biopharmaceutical) entered into a license and
development agreement relating to a bispecific antibody product for cancer immunotherapy.
Genscript Nanjing agreed to grant the patent rights of the bispecific antibody product to
Bliss Biopharmaceutical for exclusive use in the product development, registration and
commercialization of Bliss Biopharmaceutical's products in the PRC, and in return Bliss
Biopharmaceutical shall pay Genscript Nanjing certain fees.
Genscript Nanjing shall be entitled to an aggregate amount of up to RMB104.4 million,
comprising of upfront payments in consideration of the permitted patent rights, and
milestone payments upon the occurrence of various milestone events. In addition, upon the
commercialization of the product by Bliss Biopharmaceutical, Genscript Nanjing shall be
entitled to a certain percentage of the net sales income generated from the sale of the
products.
The product is developed based on the group's patented innovative SMAB (single-domain
antibody fused to monoclonal antibody) bispecific antibody platform. It shows synergistic
anti-tumor effect by blocking two immune checkpoint pathways simultaneously. (SC)