The merger will complement each other to expand AffaMed's advanced product pipeline on top of existing assets, add EverInsight's innovative drug candidate pipeline for the central nervous system and ophthalmology, and further enhance the company's research and development capabilities worldwide.
the combined company, AffaMed Therapeutics, will focus on the development of ophthalmic and central nervous system drugs in Greater China and other regions.
companies are hatched by Kangqiao Capital (formerly C-Bridge Capital) and have partnerships and licensing agreements with the world's leading biopharmaceutical companies.
Zhao Daxuan was appointed CEO of the combined company and will join the board of directors after the merger is completed.
Fu Wei, chief executive of Kangqiao Capital, will serve as chairman.
AffaMed currently has strong product pipelines in the ophthalmology sector, including the rights to Samsung Bioepis' Lucentis ® and Eylea® biosynamics in China and Singapore.
AffaMed also has priority negotiating rights for graybug Vision (NASDAQ:GRAY) pipeline drug GB-102 Greater China.
GB-102 is a vascular endodertic growth factor (VEGF) inhibitor injected into the glass twice a year at the stage of clinical phase II development, used to treat wet age-related macular degeneration.
AffaMed just signed an exclusive license agreement with Kissei Pharmaceutical Co., Ltd. in early October to develop and commercialize the Parkinson's disease drug KDT-3594 in Greater China and Southeast Asian countries.
the merger, the combined company will continue to introduce post-clinical drug development and further expand its portfolio pipeline in the areas of ophthalmology and neurology and mental illness.
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