ROCKVILLE, Md. and SUZHOU, China, June 20,
2024 /PRNewswire/ -- Ascentage Pharma (6855.HK), a
global biopharmaceutical company engaged in developing novel
therapies for cancer, chronic hepatitis B (CHB), and age-related
diseases, announced today that the agreed equity investment by
Takeda has been closed on June 20,
2024, with all proceeds already received. Pursuant to the
terms of the Agreement, Ascentage Pharma has allotted and issued an
aggregate of 24,307,322 subscription shares to Takeda International
at the share purchase price of HK$24.09850 (equivalent to approximately
US$3.08549).
About Ascentage Pharma
Ascentage Pharma (6855.HK) is a globally focused
biopharmaceutical company engaged in developing novel therapies for
cancers, chronic hepatitis B, and age-related diseases. On
October 28, 2019, Ascentage Pharma
was listed on the Main Board of the Stock Exchange of Hong Kong
Limited with the stock code 6855.HK.
Ascentage Pharma focuses on developing therapeutics that inhibit
protein-protein interactions to restore apoptosis, or programmed
cell death. The company has built a pipeline of 9 clinical drug
candidates, including novel, highly potent Bcl-2, and dual
Bcl-2/Bcl-xL inhibitors, as well as candidates aimed at IAP and
MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors
(TKIs). Ascentage Pharma is also the only company in the world with
active clinical programs targeting all three known classes of key
apoptosis regulators. The company is conducting more than 40
clinical trials, including 5 global registrational phase III
studies, in the US, Australia,
Europe, and China. Ascentage Pharma has been designated
for multiple Major National R&D Projects, including five Major
New Drug Projects, one New Drug Incubator status, four Innovative
Drug Programs, and one Major Project for the Prevention and
Treatment of Infectious Diseases.
Olverembatinib, the company's core drug candidate developed for
the treatment of drug-resistant chronic myeloid leukemia (CML) and
the company's first approved product in China, has been granted Priority Review
Designations and Breakthrough Therapy Designations by the Center
for Drug Evaluation (CDE) of China National Medical Products
Administration (NMPA). To date, the drug had been included into the
China 2022 National Reimbursement
Drug List (NRDL). Furthermore, olverembatinib has been granted an
Orphan Drug Designation (ODD) and a Fast Track Designation (FTD) by
the US FDA, and an Orphan Designation by the EMA of the EU. To
date, Ascentage Pharma has obtained a total of 16 ODDs from the US
FDA and 1 Orphan Designation from the EMA of the EU for 4 of the
company's investigational drug candidates.
Leveraging its robust R&D capabilities, Ascentage Pharma has
built a portfolio of global intellectual property rights and
entered into global partnerships with numerous renowned
biotechnology and pharmaceutical companies and research institutes
such as UNITY Biotechnology, MD Anderson Cancer Center, Mayo
Clinic, Dana-Farber Cancer Institute, MSD, and AstraZeneca. The
company has built a talented team with global experience in the
discovery and development of innovative drugs and is setting up its
world-class commercial manufacturing and Sales & Marketing
teams. One pivotal aim of Ascentage Pharma is to continuously
strengthen its R&D capabilities and accelerate its clinical
development programs, in order to fulfil its mission of addressing
unmet clinical needs in China and
around the world for the benefit of more patients.
Forward-Looking Statements
The forward-looking statements made in this article relate only
to the events or information as of the date on which the statements
are made in this article. Except as required by law, Ascentage
Pharma undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events, or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events. You
should read this article completely and with the understanding that
our actual future results or performance may be materially
different from what we expect. In this article, statements of, or
references to, our intentions or those of any of our Directors or
our Company are made as of the date of this article. Any of these
intentions may alter in light of future development.
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SOURCE Ascentage Pharma