Buffalo-based clinical-stage biotechnology company MimiVax, a Roswell Park Comprehensive Cancer Center spinoff, set to work with leading healthcare group in China to provide promising immunotherapy
Newswise — BUFFALO, N.Y. and SHANGHAI, Nov. 18, 2019 /PRNewswire/ -- MimiVax LLC and Shanghai Fosun Pharmaceutical Industrial Development Co. Ltd. (Fosun Pharma Industrial) today announced the companies have entered into a China-exclusive licensing agreement for SurVaxM, a novel anti-cancer immunotherapy in the treatment of glioblastoma brain cancers.
Fosun Pharma Industrial is a wholly-owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co. Ltd (Fosun Pharma), a leading healthcare group in China with extensive healthcare business interests worldwide. It is listed on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange.
Under terms of the agreement, Fosun Pharma Industrial and MimiVax – a clinical-stage biotechnology company in Buffalo, N.Y., USA, developing immunotherapeutics for cancer and autoimmune diseases – will seek to clinically develop and commercialize SurVaxM to make it available for patients in specified territories in China. As part of this agreement MimiVax will receive $10 million USD upfront payment and is eligible to receive additional potential development and sales milestone payments of up to $28 million and $110 million, respectively.
SurVaxM is designed to stimulate the immune system to kill tumor cells that contain survivin, a protein that helps cancer cells resist conventional treatments. SurVaxM triggers T-cell immunity simultaneously with unique antibody-mediated anti-tumor responses.
"MimiVax is committed to disrupting cancer through the development of highly innovative immunotherapeutics aimed at increasing patient survival rates, so we are very excited to be working with Fosun Pharma to bring SurVaxM to China," said Michael J. Ciesielski, Ph.D., MimiVax chief executive officer. "Fosun Pharma has both the expertise and access to reach this fast-growing market."
MimiVax's proprietary product portfolio is based on technology licensed from Roswell Park Comprehensive Cancer Center that targets survivin. The therapies are designed to stimulate immune responses to control tumor growth and recurrence. The company is now working to initiate a pivotal randomized study of the use of SurVaxM in treating patients with newly diagnosed glioblastoma in 2020 to be performed at cancer centers across the United States and in China.
Fosun Pharma will work with MimiVax on the clinical, regulatory and commercial pathways necessary to bring SurVaxM to China.
"We are pleased to partner with MimiVax to bring such a promising immunotherapy to China," said Yifang Wu, chief executive officer of Fosun Pharma. "The collaboration with MimiVax will enrich Fosun Pharma's pipeline and provide a potential new therapy addressing clinical unmet needs in the area of neuro-oncology, so we look forward to this new relationship with MimiVax."
About Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
Established in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma"; stock code: 600196.SH, 02196.HK) is a leading healthcare group in the PRC. Fosun Pharma's business covers all key sectors of healthcare industry, including pharmaceutical manufacturing and R&D, healthcare services, medical devices and medical diagnosis, as well as pharmaceutical distribution and retail. For more information visit www.fosunpharma.com.
About MimiVax LLC
MimiVax LLC is a NY based private, clinical-stage biotechnology company formed in 2012 to develop and commercialize its lead candidate SurVaxM and pipeline immunotherapeutics for cancer and autoimmune diseases. For more information visit www.mimivax.com.
SurVaxM is a first-in-class, patented peptide immunogen targeting survivin, a cell-survival protein present in many cancers (glioma, multiple myeloma, NET, medulloblastoma, melanoma, renal, breast and ovarian). A Phase 2 study in newly diagnosed glioblastoma has been completed at five leading cancer centers (Roswell Park Comprehensive Cancer Center, the Cleveland Clinic, Dana-Farber Cancer Institute, Massachusetts General Hospital and Beth Israel Deaconess Medical Center). Patients are now being recruited for additional Phase 1 evaluations of SurVaxM in combination with REVLIMID® (Celgene) for multiple myeloma as well as Phase 1 in Neuroendocrine Tumors (NET). The SurVaxM project has been supported by donations to Roswell Park Comprehensive Cancer Center and private investors, including Buffalo Capital Partners.