AsianScientist (Jan. 13, 2014) – Eddingpharm has signed an asset purchase agreement with ACT Biotech, Inc., and has acquired worldwide rights to three small molecule drug assets Telatinib, ACTB1003 and ACTB1010.
The lead asset, Telatinib, is a VEGFR inhibitor ready for Phase III development for gastric cancer. The other two programs ACTB1003 (FGFR/VEGFR2 inhibitor) and ACTB1010 (aurora kinases inhibitor) are in Phase I-ready and preclinical stages, respectively.
Eddingpharm plans to initiate trials for Telatinib in China and continue the development that ACT Biotech started in the U.S. Eddingpharm also intends to take the other two assets into clinical development in either the U.S. or China.
“Eddingpharm is pleased to expand its oncology portfolio by acquiring global rights to these three promising compounds. We look forward to resuming ACT Biotech’s work by advancing these important drugs to the next phase of trials in the US, China, and beyond,” said Xin Ni, CEO of Eddingpharm.
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Source: Eddingpharm.
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