IRVINE, Calif. and SHANGHAI, Jan. 20, 2021 /PRNewswire/ -- TRIGR Therapeutics, Inc. ("TRIGR"), a US based clinical stage biopharmaceutical company focused on the development of multi-targeted angiogenic and immunomodulatory bispecific antibodies for oncology and certain ischemic indications and Elpiscience Biopharmaceuticals, a leading China based clinical stage company focused on developing next generation of cancer immunotherapies announced today that they have entered into an exclusive licensing agreement for the development and commercialization of TR009 in mainland China, Hong Kong, Macau and Taiwan Under the terms of the agreement, TRIGR will receive an upfront cash payment of $7 million and is eligible to receive additional development and commercial milestones of $110 million plus royalties on annual net sales of TR009. Elpiscience obtains the exclusive development and commercialization rights of TR009 for Greater China across all oncology indications and will lead the clinical development and commercialization by leveraging on its translational science, clinical and regulatory experience to accelerate the path to approval of TR009 in its territory. A Joint Development Committee (JDC) will be formed to collaborate and harmonize TR009's clinical development globally. George Uy, Founder and Chief Executive Officer of TRIGR stated, "TRIGR was formed with a vision to globalize drug development and accelerate transformative treatment to patients worldwide. Our partnership with Elpiscience in Greater China is a significant milestone in this endeavor. We would also like to acknowledge and thank ABL Bio (KOSDAQ: 298380), the originator of TR009 (aka ABL001/NOV1501) for their support in the Phase 1 clinical studies and immense contribution to this program, along with HANDOK (KOSDAQ:002390), National Oncoventure (NOV) and Binex (KOSDAQ:053030)." Dr. Darren Ji, co-Founder, Chairman and Chief Executive Officer of Elpiscience stated, "Elpiscience is committed to delivering the next generation of cancer immunotherapy to patients who cannot benefit from current treatment. TR009 has demonstrated impressive single agent activity in tumor types that are poorly responsive to present immunotherapies and is highly synergistic with our next generation immune modulators. The addition of TR009 to our pipeline will further strengthen our efforts in tackling "cold tumors" and delivering efficient therapeutics." Miranda Toledano, Chief Operating/ Financial Officer of TRIGR stated "Emerging data from our Phase 1 studies demonstrate TR009 is a highly differentiated dual angiogenic blocker, safely inhibiting both DLL4-mediated Notch signaling and VEGF with activity across several DLL4 overexpressed tumors. We believe this profile could position TR009 as a next generation angiogenic flagship molecule with multiple rational combinations and sBLA opportunities." Dr. Steve Chin, Chief Medical Officer of Elpiscience added, "We were particularly encouraged by TR009 data in heavily pre-treated tumors refractory to anti-VEGF such as colorectal and gastric cancers. We look forward to working together with the TRIGR team to expedite delivery to patients."
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