Innokeys Pte. Ltd Consolidates Nimotuzumab Development by Acquiring Oncoscience AG
Oncoscience | July 22nd, 2015
The acquisition enables Innokeys to fully lead clinical and commercial development of Nimotuzumab in Europe.
Transaction will accelerate the commercial route of Nimotuzumab.
Singapore, July 22, 2015
Innokeys Pte. Ltd today announced the acquisition of Oncoscience AG, a privately held Germany biotechnology company focused on oncology. The successful acquisition of all outstanding capital stock of Oncoscience, effective on the 16th of July 2015, gives Innokeys the full rights to accelerate the development of nimotuzumab; a EGFR-targeting Monoclonal Antibody licensed from Cuban-based Center of Molecular Immunology, in Europe.“Innokeys is committed to leading advances in biopharmaceuticals and the consummation of this acquisition unifies our efforts to advance the development of nimotuzumab and increase patient access in Europe. This commitment reflects our recognition of the work and legacy of Oncoscience founder, the late Ferdinand Bach,” said Dr. Rikrik Ilyas, Chief Executive Officer of Innokeys.
This strategic consolidation falls in line with the nimotuzumab global development plan that includes two pivotal Phase III clinical studies for indications Paediatric Glioma and Pancreatic Cancer. “We are extremely pleased with the acquisition of Oncoscience by Innokeys and are encouraged to continue the clinical development of nimotuzumab towards approval in Europe in indications like Pancreatic Cancer and Pontine Glioma under the Innokeys umbrella”, stated Prof. Dr. Dr. Juergen Engel, Chairman of the Supervisory Board of Oncoscience AG.
Nimotuzumab is a humanized monoclonal antibody targeting the Epidermal Growth Factor Receptor (EGFR), invented and developed in Cuba by the Center of Molecular Immunology (CIM). Nimotuzumab has been shown to improve response when used with conventional treatments such as radiation therapy and chemotherapy but with the absence of severe side effects commonly associated with other anti EGFR targeting agents. Nimotuzumab is approved in several jurisdictions and is on late stage development in several major markets such as Japan and Europe.
About Innokeys Pte. Ltd.
Innokeys Pte. Ltd is a Singapore based limited liability company that was set up to leverage the value of innovation in the field of healthcare, especially in biopharmaceuticals. Innokeys activities span from identification, acquisition, development and commercialization of suitable innovations.
About Oncoscience AG
Oncoscience AG is a drug development company founded in 2001 by the late Ferdinand Bach to develop oncology drugs based in Wedel, Germany. Oncoscience holds the rights to develop and commercialize Nimotuzumab in Europe.
About InnoCIMAb Pte. Ltd
InnoCIMAb Pte. Ltd is a Singapore based joint venture between Innokeys Pte. Ltd (80%) and CIMAB SA (20%). CIMAB SA is the commercial representative for products and services developed by The Center of Molecular Immunology (CIM). InnoCIMAb is the licensee of CIMAb, the inventor, manufacturer and IP owner of Nimotuzumab and has the territories of Australia, Canada, Europe, Israel, Japan, South Korea, New Zealand, South East Asia, Taiwan, South Africa, Nigeria and Congo. InnoCIMAb has sublicensed certain territorial Nimotuzumab rights to Innokeys, Oncoscience, Medison, Daiichi Sankyo, Kuhnil Pharmaceuticals, Innogene Kalbiotech, Kalbe Farma and Gen İlaç.