NovaRock Biotherapeutics Announces Exclusive License Agreement with CSPC to Develop and Commercialize NBL-012 in Select International Territories
Ewing, NJ, October 20, 2022– NovaRock Biotherapeutics Ltd., a clinical-stage biotechnology company focusing on the development of innovative antibody therapies for cancer and inflammatory diseases, announced today that it has entered a strategic collaboration and license agreement with Shanghai JMT-Bio Technology Co., Ltd. (“JMT-Bio”), a wholly-owned subsidiary of CSPC Pharmaceutical Group Limited (“CSPC”), for the development and commercialization of NBL-012 worldwide excluding US, Europe and Japan. CSPC has committed to advancing NBL-012 into Phase II studies in psoriasis and Inflammatory bowel diseases (IBD).
Under the agreement, JMT-Bio will be responsible for the development and commercialization of NBL-012 in all indications in the licensed territories and share its clinical results with NovaRock. NovaRock will receive upfront and milestone payments, as well as royalties on future net sales in the licensed territories.
NBL-012 is a novel Interleukin 23 p19 neutralizing antibody, discovered and developed using NovaRock’s innovative antibody discovery platform. In the Phase I human trial, NBL-012 has demonstrated excellent safety profiles and superior pharmacokinetic properties compared to commercial products to the same molecular target. NBL-012 showed a significantly longer half-life and higher drug exposure in healthy human volunteers, suggesting a potential best-in-class candidate for treating psoriasis, IBD, and other hard-to-treat inflammatory diseases.
This collaboration between the two companies will enable the acceleration of the clinical development of NBL-012 and represents significant progress towards the advancement of NovaRock’s innovative portfolio into the global market.
As an antibody drug discovery engine, NovaRock strategically seeks partnerships with pharmaceutical and biotechnology companies to leverage their clinical, manufacturing, and commercial capabilities to facilitate the development of NovaRock’s pipeline products.
Han Li, Ph. D
Chief Executive Officer