Apexigen, a privately held biopharmaceutical company, and Gansu Duyiwei Biological Pharmaceutical (GDBP), have entered into a collaboration to grant an exclusive license to GDBP to develop and commercialize APX004 in China.
APX004 is a humanized monoclonal antibody directed against VEGFR2 for the treatment of certain cancers and angiogenic diseases.
As per the agreement, GDBP will have an exclusive license and sole responsibility to research, develop and commercialize APX004 in China, while Apexigen retains all rights to APX004 outside of China and will collaborate with GDBP to advance the development program.
Apexigen will receive an upfront payment, milestone payments on the successful achievement of regulatory milestones, and a royalty.
Gansu Duyiwei CEO Zhiping Duan said the cooperation between Duyiwei and Apexigen will become a developmental milestone for Duyiwei.
"Based on its efforts, flexible mode of R&D and the continually increased investment on R&D, Duyiwei has the confidence and determination to constantly launch a series of original products in the near future to bring hope to the diseased and improve their quality of living," Duan said.