Ascentage Pharma Receives $100 Million Option Payment from Takeda for Global Rights to Olverembatinib

Ascentage Pharma is a biopharmaceutical company based in China with a global outlook, dedicated to developing First-in-class and Best-in-class drugs to address unmet clinical needs for patients worldwide. On October 28, 2019, Ascentage Pharma was listed on the Main Board of the Hong Kong Stock Exchange, stock code: 6855.HK.

Ascentage Pharma has established a pipeline of 9 novel small-molecule drugs that have entered clinical development, including inhibitors targeting key proteins in the apoptosis pathway such as Bcl-2, IAP, or MDM2-p53; next-generation inhibitors targeting kinase mutations that emerge during cancer treatment, making it the only company globally with clinical-stage assets across all key proteins in the apoptosis pathway. The company is currently conducting over 40 clinical trials in China, the United States, Australia, and Europe, including 6 global registrational Phase III clinical studies.

Core product Orelabrutinib (trade name: Neric) used for the treatment of chronic myeloid leukemia^®) has been granted priority review and designated as a breakthrough therapy by the Center for Drug Evaluation (CDE) of the China National Medical Products Administration, and has already been approved in China, marking the company's first marketed product. Currently, Nulrex^®Has been successfully included in the National Reimbursement Drug List (NRDL) for basic medical insurance, work-related injury insurance, and maternity insurance. This product has also received FDA Fast Track designation, Orphan Drug designation in the United States, and Orphan Drug designation in the European Union.

To date, the company has obtained 16 FDA and 1 EU orphan drug designations for 4 novel drugs under development, along with 2 FDA Fast Track designations and 2 FDA Rare Pediatric Disease designations. With robust R&D capabilities, Jiangsu Ascentage Pharma Development Co., Ltd. has implemented a global intellectual property strategy and established global partnerships with leading multinational pharmaceutical companies and academic institutions such as Takeda, Merck, AstraZeneca, Pfizer, UNITY, MD Anderson Cancer Center, Mayo Clinic, and Dana-Farber Cancer Institute.

Ascentage Pharma has built an international talent team with extensive experience in original new drug research and clinical development. Meanwhile, the company is building a high-standard commercial production and marketing team for the later stages. Ascentage Pharma will continue to enhance its R&D capabilities, accelerate the clinical development progress of its product pipeline, truly fulfill the mission of "addressing unmet clinical needs of patients in China and around the world," to benefit more patients.

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