X-Body announced the signing of multi million dollar development contract with Hengrui pharmaceutical

X-Body Biosciences today announced an exclusive agreement with Jiangsu Hengrui Pharmaceutical Co., Ltd (hereinafter referred to as "Hengrui"), a leading pharmaceutical company in China According to the agreement, Hengrui will provide X-Body for age-related macular degeneration (AMD) in Greater China (including Mainland China, Taiwan, Macao and Hong Kong) The antibody platform developed a new antibody plan and realized commercialization Under the terms of the cooperation agreement, Hengrui will lead and fund all preclinical and clinical development and commercialization work in the Greater China market X-Body reserves all rights of development and commercialization outside Greater China The detailed financial terms of the cooperation between the two parties are not disclosed, but the cooperation terms include early payment; clinical, regulatory and commercial milestones; and royalty collection based on the income of commercial products Dr Zhang Lianshan, President of global R & D of Jiangsu Hengrui Pharmaceutical Co., Ltd., said: "Hengrui's rules are to cooperate with global biotechnology enterprises These enterprises should be able to bring us interesting elements that can be developed and commercialized This signing is also part of this rule Many of our development plans are promising, and we are pleased to launch our first development plan from this company Julius Knowles, chief executive of X-Body, added: "it is clear that Hengrui is the leader in the field of pharmaceutical development in China This cooperation with Hengrui has made us take an important step in verifying the ability of our DNA display drug discovery platform We are very pleased to see that our platform has produced antibodies that can have a certain impact on patients' lives, especially on life changing diseases such as age-related macular degeneration "