BEIJING & CAMBRIDGE, Mass.
CANbridge Pharmaceuticals, Inc., a biopharmaceutical company developing and commercializing innovative drugs to treat rare diseases and rare cancers in China and globally, announced that it has entered into a strategic collaboration and licensing agreement with LogicBio Therapeutics, Inc. (Nasdaq: LOGC), a clinical-stage genetic medicine company pioneering gene delivery and gene editing platforms to address rare and serious diseases, from infancy through adulthood. The agreement includes a worldwide license to develop, manufacture and commercialize gene therapy candidates for treatments for Fabry and Pompe diseases, based on LogicBio’s adeno-associated virus (AAV) sL65, the first capsid produced from the LogicBio sAAVy™ platform. The agreement also includes options for the development of AAV sL65-based treatments for two additional indications. AAV sL65 has unique liver-targeting properties, the potential to overcome limited potency and immunogenicity issues, and is more efficient to manufacture, potentially resulting in higher yields, making it a valuable strategic addition to the CANbridge’s gene therapy program.
CANbridge is also granted an option to an exclusive license for LB-001, an investigational in-vivo gene editing technology based on GeneRide™ platform for the potential treatment of methylmalonic acidemia (MMA), in Greater China (China, Taiwan, Hong Kong and Macau).
Under the terms of the agreement, LogicBio is eligible to receive an upfront payment of $10 million for the exclusive worldwide license to support the development of two gene therapy candidates for Fabry and Pompe diseases. In addition, the agreement grants options for two additional undisclosed gene therapy programs, based on AAV sL65, and an option to an exclusive license for LB-001 in Greater China. Upon exercising the option for LB-001, CANbridge would assume responsibility and costs for all future development in the territory, including regulatory and commercial activities and, potentially, manufacturing. The agreement also includes payments, including opt-in fees triggered upon the exercise of these options, as well as clinical, regulatory, and commercial milestone payments for up to $581 million, and up to double-digit royalties on net sales.
“This important agreement advances our three-prong strategy to build CANbridge’s next-generation rare disease treatment pipeline: In-house research capability, as supported by the recent opening of our CANbridge rare disease research facility, in Massachusetts; collaborative academic research agreements, such as the two we have with the Horae Gene Therapy Center, at the University of Massachusetts Medical School; and partnerships with innovative biotechnology companies,“ said James Xue, Ph.D., Founder, Chairman and CEO of CANbridge Pharmaceuticals, Inc. “LogicBio’s cutting-edge capsid and gene editing technologies, which have the potential to address the limitations of existing therapies, supplies a vital component to the CANbridge long-term rare disease capability.”
About LogicBio Therapeutics, Inc.
LogicBio Therapeutics is a clinical-stage genetic medicine company pioneering gene delivery and gene editing platforms to address rare and serious diseases from infancy through adulthood. The company’s proprietary GeneRide™ platform is a new approach to precise gene insertion that harnesses a cell’s natural DNA repair process leading to durable therapeutic protein expression levels. LogicBio’s cutting-edge sAAVyTM capsid development platform is designed to support development of treatments in a broad range of indications and tissues. The company is based in Lexington, MA. For more information, visit https://www.logicbio.com/.
About CANbridge Pharmaceuticals Inc.
CANbridge Pharmaceuticals Inc. is a biopharmaceutical company accelerating development and commercialization of treatments for orphan diseases and rare cancers to address unmet medical needs.
CANbridge has a global partnership with WuXi Biologics to develop and commercialize proprietary therapeutics for the treatment of rare genetic diseases. In greater China, where it is a recognized leader in rare diseases, CANbridge has an exclusive licensing agreement to commercialize Hunterase®, an enzyme replacement therapy for the treatment of Hunter syndrome (also known as mucopolysaccharidosis type II), developed by GC Pharma and marketed in more than 11 countries worldwide. CANbridge also has a collaborative agreement with the Horae Gene Therapy Center at UMass Medical School for the research and development of gene therapies to treat rare genetic diseases.
For more on CANbridge Pharmaceuticals Inc., please go to: www.canbridgepharma.com
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CANbridge Pharmaceuticals Inc.
ir@canbridgepharma.com
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Planet Communications
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