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Over 560 million yuan! PepLib has transferred a new preclinical drug candidate to Jiudian
Release time:
2024-03-06
Over 560 million yuan! PepLib has transferred a new preclinical drug candidate to Jiudian
PepLib is to receive up to potentially 560 million yuan (USD 77.84 million) in total, including an upfront payment and option exercise fee.
Zhuzhou, China -- Zonsen PepLib Biotech Inc. announced on Feb 28 that it has entered into a license agreement with Hunan Jiudian Pharmaceutical Co., Ltd. (300705. SZ) to develop and commercialize PL054, a dual-functional peptide program with antibacterial and anti-inflammatory properties.
Under the terms of the agreement, PepLib will grant Jiudian an exclusive, worldwide license for the development and commercialization of PL054. PepLib is eligible for up to potentially 560 million yuan (USD 77.84 million) in total consideration, including an upfront payment of 15 million yuan (USD 2.085 million), commercial milestone payments of 45 million yuan (USD 6.255 million), and an option exercise payment of 500 million yuan (USD 69.5 million) as well as potential development, regulatory, plus tiered royalties on net sales.
The peptide molecule of PL054 is a dual-functional peptide with antibacterial and anti-inflammatory properties. This bifunctional peptide molecule is significantly better than the positive control molecule regarding in vitro antibacterial and anti-inflammatory activity, druggability, and animal efficacy. It can be used to develop innovative drugs for localized skin wounds, sugar foot, and other diseases. Meanwhile, it also can be used to develop medical aesthetic products for acne, oral ulcers, and prevention of scar formation.
About Hunan Jiudian Pharmaceutical Co., Ltd.
Jiudian Pharmaceutical Co., Ltd. is located in Changsha, Hunan, China. It integrates R&D, production and sales. It is a comprehensive pharmaceutical enterprise with comprehensive distribution of pharmaceuticals, raw materials, pharmaceutical excipients and plant extracts.
The company has a pharmaceutical raw material workshop, oral solid preparation workshop, oral liquid preparation workshop, external preparation workshop, pharmaceutical excipients workshop, plant extraction workshop, medical equipment workshop, and so on, which meet the national GMP standard, and are equipped with advanced production and inspection equipment. The company takes high-end raw material drugs as the lead, raw material drugs and preparations simultaneously, chemical drugs and traditional Chinese medicine fly together, new special drugs and general drugs are combined, there are hundreds of drugs such as anti-infective drugs, digestive system drugs, respiratory tract drugs, gynecology, tonic drugs, special drugs and so on. It adheres to the road of "high technology, NEW products, patent drugs", and has a strong core. Competitive power.
The company has a strong capability of independent research and development. The technology center has successively been identified as the Hunan Enterprise Technology Center, the new gel paste Hunan Engineering Research Center, and the Hunan Respiratory Medicine Engineering Technology Research Center. It has a high-level R & D team and a modern laboratory, equipped with a series of advanced experimental instruments. As well as equipment and facilities, it has formed a complete test platform from pilot study to pilot test and industrialization transformation.
About Zonsen PepLib Biotech Inc.
Zonsen PepLib Biotech Inc. is a high-tech biopharmaceutical enterprise that is dedicated to advancing global innovation in the discovery of new peptide drugs. Founded in September 2017, PepLib is headquartered in Zhuzhou, China, with a subsidiary in New Jersey, USA.
PepLib's core peptide discovery platform is called Peptide Information Compression Technology (PICT), which consists of a diverse peptide library named ZSenithFive®, containing information on nearly half-billion peptides. The PICT platform is ideal for the discovery of functionally active peptides directly from cell-based and biochemical high-throughput screening (HTS) assays. In addition, we have developed 4 complimentary peptide discovery platforms: the Disulfide-rich Peptide Phage Display (DRP-PD) platform, the Animal Toxin Peptide Library Platform, the Nano-Cyclic Peptide Library Platform, and the Virtual Peptide Library Platform.
PepLib successfully raised 100 million yuan (USD 16 million) in Series Pre-A financing in 2019 and secured Series A financing of 220 million yuan (USD 35 million) in 2021. PepLib has been working towards Series Pre-IPO financing since August 2023. PepLib has more than 190 employees, and more than 80% of the workforce is made up of R&D personnel.
At PepLib, the main therapeutic area focus is oncology and cardiometabolic diseases. where oncology programs are driven by the development of peptide drug conjugates (PDCs) and peptide radionuclide conjugates (PRCs).
PepLib aims to promote the development and accessibility of innovative peptide drugs, benefiting global patients and human health while keeping costs low.
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