On January 6, 2020, Hangzhou, China, Rockville and foster, US: at the beginning of the new year, glycometrics, Inc. (NASDAQ: glyc) and Apollo, Inc. announced to sign a cooperation license agreement on the exclusive development and commercialization rights of the Chinese market of the acute myeloid leukemia treatment drug, uproleselan and gmi-1687. Uproleselan and gmi-1687 are widely used E-selectin antagonists, among which uproleselan has entered phase III clinical trials in the United States for the treatment of blood malignancies including acute myeloid leukemia (AML); gmi-1687 is the second generation product with higher efficacy.
Under the agreement, Apollo will make a down payment of US $9 million for glycometrics and a total of US $180 million for glycometrics based on clinical development, registration, sales milestones and sales commissions. Apollo will obtain the rights of clinical development, production and commercial sales in the Chinese market (mainland China, Hong Kong, Macao and Taiwan), and the two sides will jointly promote the research and development and clinical trials of gmi-1687. Glycometrics reserves the full rights of uproleselan and gmi-1687 in the rest of the world.
Ms. Rachel king, CEO of glycomimetics, said: "Apollo has an experienced management team and strong drug development capabilities, and has R & D and operation entities in the United States and China. It is our ideal long-term strategic partner in the Chinese market. We are looking forward to the promotion of Apollo and the early entry of the two groups into Chinese clinical practice to benefit Chinese patients. "
Dr. Yu Guoliang, CEO of Apollo, added: "Guanke Meibo hopes to be based in China, benefit the world and Bridge innovation between the East and the West. Uproleselan and gmi-1687 are highly innovative and widely used, which is a good supplement to our existing product pipeline. Their clinical trial data in the United States gives us full confidence in their prospects in China. "
About uproleselan (gmi-1271) and gmi-1687
Uproleselan (gmi-1271) and gmi-1687 are innovative drugs discovered and developed by glycometrics. Uproleselan can block the binding of E-selectin (an adhesion molecule on bone marrow cells) to blood cancer cells, thus blocking the resistance mechanism of leukemia cells in the bone marrow microenvironment. It is used to treat relapsed or refractory adult AML. It is in phase III clinical trial in the United States and has obtained FDA breakthrough treatment qualification. In a phase I / II clinical trial for newly diagnosed and relapsed or refractory AML patients, patients treated with standard chemotherapy combined with uproleselan achieved better than expected RR and OS, as well as lower than expected induction related mortality, compared with historical data from third-party clinical trials. Patients were well tolerated and had less adverse reactions than expected.
Gmi-1687 is a second generation of highly effective E-selectin antagonist, which is in the pre clinical research stage. It is expected to be used in subcutaneous (SC) administration and has a wide prospect in clinical application. In the preclinical study model, gmi-1687 has the same activity as that of uproleselan, and the dose can be about 250 times lower than that of uproleselan. Gmi-1687 is expected to expand the use of E-selectin antagonists in outpatients and prolong the life cycle of the product.
About glycometrics, Inc
Glycomimetics is a company specializing in clinical drug research and development. It is dedicated to the discovery and development of new sugar like drugs for the treatment of diseases related to the biochemical mechanism of sugars. Glycometrics owns all the property rights of uproleselan. Phase I / II clinical trials for AML patients have been completed, and a series of other clinical trials (including a phase III clinical trial for relapsed or refractory AML) are in progress. Glycomimetics also completed the phase I clinical trial of another candidate drug gmi-1359, a combination of CXCR4 and E-selectin antagonist. Glycomimetics is located in the biological health center park in Rockville, Maryland. For more information, please visit www.glycomimetics.com.
About Apollomics, Inc.
Apollomics, Inc. (komombo) is an innovative biopharmaceutical company incubated by OrbiMed Asia (OBO capital). It is committed to developing combination therapy for cancer targeting and immunization. It operates entities in Forster, California, and Hangzhou, China. The company's existing product pipeline includes five projects in different development stages, two of which are new humanized monoclonal antibodies to restore the recognition ability of the immune system and kill cancer cells, and three of which are targeted therapy for uncontrolled growth signal pathway. For more information, please visit www.apollo icinc.com.
Forward looking statements
This press release contains forward-looking statements about the clinical development and potential benefits and impacts of the company's candidate drugs. These forward-looking statements include the company's planned clinical development of all proprietary candidate products, and statements about the expected timing of obtaining more data from Pfizer's rivipansel phase III clinical trials. The actual results may differ greatly from those in these forward-looking statements. For further explanation of the risks associated with these statements and other risks faced by glycomimetics, please refer to the description of form 10-K in the company's annual report to the securities and Exchange Commission (SEC) on March 6, 2019, and other documents submitted by glycomimetics to the sec. Forward looking statements are only issued on the date of this press release, and unless required by law, glycometrics does not assume any obligation to update or modify these statements.