SHIEF - Week In Review: 4 China Biopharmas Announce $100+ Million Deals In First Week Of 2020
Deals and Financings
Apollomics of Hangzhou announced a $189 million agreement to develop two GlycoMimetics (GLYC) novel E-selectin-based immunotherapies in China for leukemia. Apollomics, which was incubated by OrbiMed Asia, will be responsible for developing uproleselan and GMI-1687 in mainland China, Hong Kong, Macau and Taiwan. GlycoMimetics will receive a $9 million upfront payment and be eligible for up to $180 million in milestones plus royalties. Apollomics is developing five assets: two novel mAbs that restore the body's immune system along with three therapies that target growth signaling pathways.
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