Baiotai and Baiji Shenzhou announced that they have signed an authorization, distribution and supply agreement in China for the biologic similar drug BAT1706.

Introduction: Baotai and Baiji Shenzhou announced that they have signed an authorization, distribution and supply agreement in China for BAOtai's BAT1706.
, Guangzhou, China, Beijing, and Cambridge, Massachusetts, USA, August 24, 2020 /ATA/ -- Baotai Biopharmaceutical Co., Ltd. (SSE: 688177) and Baiji Shenzhou (NASDAQ: BGNE; Hong Kong Stock Exchange Code: 06160) today announced that the two sides have signed an authorization, distribution and supply agreement in China for BAOtai's BAT1706, a biosynthic drug in the study of anavitin ® (Beva zhu single resistance).
The National Drug Administration (NMPA) has recently accepted Biopharmaceity License Application (BLA) submitted by Baotai for BAT1706.
beval beads have been approved in China for the treatment of advanced, metastatic or relapsed non-small cell lung cancer and metastatic colorectal cancer.
this Agreement shall not enter into force until it has been considered and approved by the General Meeting of Shareholders of Beotai in September 2020.
the terms of the agreement, Bae Otay has agreed to authorize Baiji Shenzhou to develop, produce and commercialize BAT1706 in China, including Hong Kong, Macao and Taiwan.
will receive a down payment and will be eligible for payment up to $165 million upon reaching the registration and commercialization milestone.
addition, Beotai will be eligible for a double-digit percentage of net sales tiered royalties for future products.
Xiaobin, General Manager and President of Baiji Shenzhou China, said,
The state is committed to bringing meaningful and affordable medicines to patients around the world.
BAT1706, a potential Avetin ® biosypolytic drug, is expected to be an important treatment option in China for the treatment of a number of solid tumor adaptations, including colorectal, lung and liver cancers.
This partnership will not only further expand our existing commercialization and registration phase portfolio in China, but also complement our many licensed imported and independently developed drugs, including the anti-PD-1 antibody Bizean ®, which has been submitted for market listing in China for lung and liver cancer.
Shengfeng, CEO of Baer-Tai, commented, "Baiji Shenzhou has extensive expertise and strong research and development pipelines in the field of oncology, and we are pleased to work with Baiji Shenzhou."
Through this partnership, we will accelerate the development and commercialization of BAT1706 as a single drug or in combination with other therapies to ensure that more patients benefit from this important cancer drug at an affordable price, based on the experience and expertise of Baiji Shenzhou."
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