On June 30, 2020, Asymchem (stock code: 002821.SZ) signed a comprehensive MAH agreement with Betta Pharmaceuticals (stock code: 300558.SZ) in Hangzhou, China, to reach a strategic cooperation. This not only marks the further collaboration between Asymchem and Betta, but also, it is critical for Asymchem to expand its multi-dimensional development layout to a greater extent and to build an integrated service ecosystem for innovative drugs.
In recent years, China has increased its recognition for innovative drugs and has successively issued a number of policies to promote innovative drug R&D, sending an unprecedented amount of support to the whole industry. In particular, a full implementation of the MAH system has brought greater opportunities for innovative pharmaceutical companies and for Chinese CMOs/CDMOs, which are expected to vigorously promote the rapid development of whole innovative drug industry in China.
On June 30, Dr. Hao Hong, Chairman and CEO of Asymchem, Ms. Rui Yang, COO of Asymchem, Mr. Da Zhang, CFO of Asymchem, Dr. Lieming Ding, Chairman of Betta, Dr. Li Mao, SVP & CMO of Betta, Ms. Jia Tong, CEO of Betta, and other representatives attended the signing ceremony for the comprehensive MAH cooperative agreement. Both Asymchem and Betta will seize the opportunity to further strengthen their future collaboration.
Dr. Ding delivered a welcome speech first, saying that under the outbreak of COVID-19, both Betta and Asymchem have maintained the steady and rapid progress. This strategic cooperation will be a carriage for company's future development, and the complementary advantages shared with Asymchem, such an excellent CDMO enterprise, will highly promote the win-win situation in the field of drug R&D and establish a new model for the pharmaceutical industry. Dr. Hong commented, based on the in-depth cooperation between Asymchem and Betta in the aspects like chemical small molecule and chemical macromolecule, also on Asymchem's accumulated experience and technological capabilities in serving large to medium-sized global customers for over 20 years, this strategic partnership with Betta represents the shared duty for both sides to the domestic pharmaceutical and health industry.
Since the first collaboration in 2016, Asymchem and Betta have always maintained a long-term and stable partnership in innovative drug R&D and manufacturing. Until now, Asymchem has comprehensively served for three Betta’s Class 1 innovative drugs, including a collaborative API pharmacological research for the third-generation EGFR inhibitor BPI D-0316, far exceeding the industry standard for quality and technological capability, providing an important contribution to Betta’s progress in innovative drug R&D, launch and commercialization projects. Recently, both sides further discussed and negotiated an in-depth cooperative target in APIs R&D, production and registration. This singing will largely expand the business intersection between Asymchem and Betta, covering the clinical stage up to final commercialization.
As an innovative biopharmaceutical company based in China and facing the world, Betta Pharmaceuticals focuses on the research and development of innovative drugs with independent intellectual property rights, summing up the R&D, production and selling stages. They are dedicated to cancer and other diseases, benefiting patients all around the world, and are constructing a world leading innovative drug R&D enterprise. The first small-molecule targeted anti-cancer drug developed independently by them in China-Icotinib hydrochloride-has been considered as the pride of Chinese nation in the field of people's livelihood. As a result, they are very strict in selecting partners. As a global leading one-stop CDMO service provider for innovative drug R&D and manufacturing, Asymchem has won the long-term trust of Betta based on our accumulated technological advances and professional team management. By signing this MAH agreement, we will further expand the collaborative layout and provide Betta with more competitive one-stop services.
We believe that the golden era of Chinese innovative drug industry has come. This cooperation with Betta will definitely bring more valuable innovative drugs to the industry and fulfill the unmet clinical needs. Asymchem will also use our technical strength and rich experience to provide more customers with services covering the whole life cycle of drugs and become a trust-worthy partner in the field of global drug R&D and manufacturing.
About Betta Pharmaceuticals