Hong Kong, February 1, 2019-- I-Mab Biopharma (I-Mab), a China-based clinical stage biopharmaceuticalcompany exclusively focused on the development of innovative biologics in immuno-oncologyand autoimmune diseases, today announces that it has entered into a memorandumof understanding (MOU) with Hong Kong-based Bio-Cancer Treatment InternationalLimited (BCT) to jointly explore and investigate new therapeutic potentials forBCT’s arginine depletion therapy in autoimmune diseases and cancers.
Under the terms of the MOU,I-Mab and BCT will work together to explore the potential of arginine depletiontherapy in autoimmune diseases, as well as biomarkers in arginine and otherimmunologic targets in the tumor microenvironment for experimental cancerimmunotherapy.
In conjunction with thisdevelopment collaboration, I-Mab also plans to establish a translationalmedicine lab in Hong Kong to conduct exploratory biomarker work on BCT’s leaddrug candidate, BCT-100, as well as a number of important assets in I-Mab’s ownpipeline. Over the longer term, I-Mab will consider expanding the lab into afull-functioning R&D center in Hong Kong, taking advantage of the localscientific talent pool, clinical resources and government initiatives toencourage life sciences development.
“BCT is a biotech companywith an established unique focus on targeting arginine metabolism to treatcancers and immune disorders. We are especially impressed by BCT’s ability tobring about collaborations among like-minded academic groups andclinician-scientists, to really understand, exploit and expand the therapeuticpotential of something as vital as amino acid metabolism. We look forward toworking closely with BCT to explore creating synergy with our pipelines. Thepartnership also provides I-Mab with an opportunity to set up a world-classtranslational medicine hub in Hong Kong, with further potential to developclinical presence in Hong Kong,” said Jielun Zhu, Chief Financial Officer ofI-Mab.
“BCT is extremely honored tobe working with I-Mab’s team of highly experienced biotech professionals indeveloping first-in-class biologics in autoimmune diseases and cancers to findways to collaborate. The proposed biomarker study is very important to BCT bothas precision medicine to identifycancer patients that would benefit the most from the BCT-100 treatment and alsoto apply the arginine depletion therapy to a wider patient population.” from DerekWong, CFO of BCT.
I-Mab is a dynamic andfast-growing global company exclusively focused on developing potentialfirst-in-class and best-in-class biologics in the areas of immuno-oncology andautoimmune diseases through internal R&D capabilities and global partnerships.I-Mab's pipeline is driven by the company's development strategy to addressunmet needs in China and to bring innovative assets to the world. The companyis on track to initiate additional clinical trials in China and the U.S.,including multiple Phase II and Phase III studies. I-Mab is on a fast tracktowards becoming an end-to-end fully integrated biopharma company. The companyhas been well-recognized by capital markets with the recent $220 million SeriesC financing representing one of the largest amounts ever raised by aninnovative biotech company in China. www.i-mabbiopharma.com
Founded in 2000, BCT’sproduct candidate portfolio comprises few pegylated recombinant human arginase1 (pegArg1) candidates, which can potentially retard tumor growth andultimately cancer death. Its leading candidate, BCT-100, is currently in phaseI clinical trial in the US for the treatment of arginine-auxotrophic solidcancers and phase II clinical trials in the UK for the treatment of acutemyeloid leukemia (AML) and pediatric cancers. www.bio-cancer.com.