On 19 December 2016, Third Venture Biopharma built strategic partnership with Ferring Pharmaceuticals, under which, Third Venture Biopharma was granted the exclusive rights to develop and commercialize Olamkicept (an autoimmune drug of Ferring Pharmaceuticals) for autoimmune indications in Asia.
Olamkicept is a novel recombinant protein inhibitor of the interleukin-6 (IL-6) pathway.IL-6 is a key cytokine in the pathogenesis of autoimmune diseases such as inflammatory bowel disease and rheumatoid arthritis. Two Phase I clinical studies on Olamkicept have been completed in Germany and Phase II clinical studies are ongoing abroad. This compound has a significant differentiation competitive advantage over existing IL-6 antibody drugs.
"Promising phase 1 clinical data on Olamkicep has been obtained. And we hope that through the further development of this innovative drug, we can drive Third Venture Biopharma to march into the R&D forefront of autoimmune drugs," said Jingwu Zang, President and CEO of Third Venture Biopharma.
“Third Venture Biopharma has strong network in fundamental research and clinical development in the autoimmune area and will take this advantage to develop Olamkicept in Asia or even in worldwide," said Alan Harris, Senior Vice President, R&D, Ferring Pharmaceuticals. "We are very pleased to partner with Third Venture Biopharma, jointly committed to processing this innovative drugs in the autoimmune area with many unmet medical needs."
Ferring is a R&D biopharmaceutical company, specialized in research, development, production and marketing of various innovative products, covering reproductive health, urinary, gastrointestinal and endocrine areas.
From a unique Scandinavian company Ferring develops into a global business, operating in the most important pharmaceutical markets worldwide.
Vision of Ferring is to develop tailored therapy with innovative method in line with human body's mechanism; benefit physicians, patients and business partners with top product portfolio and services in main areas