On December 24, Tasly Pharmaceutical Group Co., Ltd. (600535. SH) announced that its holding subsidiary Shanghai Tasly Biopharmaceuticals Co., Ltd. (hereinafter referred to as “Tasly Biopharma”) has obtained the exclusive license of the US Sutro Biopharma (hereinafter referred to as “Sutro”) to exclusively develop, register and commercialize an antibody-drug conjugate targeting folate receptor α (FRα) (hereinafter referred to as “STRO-002”) in the region (i.e., mainland China, Hong Kong and Macao Special Administrative Regions, Taiwan region), a kind of drug currently used in clinical studies for ovarian and endometrial cancer in Europe and the United States. Under the license agreement, Tasly Biopharma shall make an initial payment of $40 million and up to $345 million potential development and commercialization milestone payments, as well as an agreed percentage of sales.
As the leading innovative biopharmaceutical company in China, Tasly Biopharma with an aim to provide first-in-class/best-in-class biopharmaceuticals with reasonable prices for patients at home and abroad, is committed to meeting the growing clinical needs in the treatment of cardiovascular and cerebrovascular diseases, tumors, autoimmunity, digestion and metabolism diseases. At present, we have 16 biological drug pipeline products. The introduction of STRO-002 will form differentiation advantages, further broaden the Tasly biological cancer therapeutic drug product pipeline, improve the product portfolio and solve major unmet clinical needs.