Crown Bioscience and Jiangsu Hengrui extend mAb collaboration

Crown Bioscience and Jiangsu Hengrui Medicine Co have announced that CrownBio Taicang Biologics Division, a wholly owned subsidiary of Crown Bioscience, and Hengrui have entered into a new strategic partnership for the discovery and commercialization of a novel therapeutic monoclonal antibody for the Chinese and global market. CrownBio and Hengrui have previously jointly evaluated multiple target opportunities and selected one that fits the two parties strategic interest and strength. Under the new agreement, Crown Biologics will lead the discovery program and deliver a humanized therapeutic antibody IND candidate. Hengrui will be responsible for further development and commercialization against major life threatening diseases in China and globally. CrownBio will receive research support and success-based incentive payment.