LLY - Week In Review: Sciwind Sino Biological And Biocytogen Announce Deals
2024-05-12 03:45:00 ET
Summary
- Hangzhou Sciwind Biosciences out-licenses South Korean rights for ecnoglutide injection to HK inno.N Corporation for up to $56 million.
- Beijing's Sino Biological completes its $48 million acquisition of SignalChem Biotech, adding enzyme production expertise to its technology platforms.
- Innovent Biologics reports Phase III results for mazdutide, showing better efficacy for glycemic control than Lilly's Trulicity.
Deals and Financings
Hangzhou Sciwind Biosciences out-licensed South Korean rights for ecnoglutide injection (XW003), a novel long-acting GLP-1 analog aimed at type 2 diabetes, obesity and MASH, to HK inno.N Corporation (KOSDAQ: 195940). HK inno.N is a South Korean commercial stage pharmaceutical company. Sciwind will receive an unspecified upfront payment and additional milestones of up to $56 million, plus up to double-digit royalties on sales. XW003 is currently in a Phase III trial. In previous tests, it showed efficacy for type 2 diabetes and obesity without serious safety concerns....
Week In Review: Sciwind, Sino Biological And Biocytogen Announce Deals