Ascentage Pharma Secures $75M Investment from Takeda

Ascentage Pharma, a notable global biopharmaceutical entity, recently announced the closure of a significant equity investment from Takeda. The transaction, finalized on June 20, 2024, involved the issuance of 24,307,322 shares to Takeda International at a purchase price of HK$24.09850 per share, translating to approximately US$3.08549. This development marks a noteworthy collaboration aimed at advancing the development of innovative therapies for cancer, chronic hepatitis B (CHB), and age-related diseases.

Ascentage Pharma, trading under the stock code 6855.HK, is dedicated to pioneering treatments that address severe health concerns globally. Established on the Main Board of the Stock Exchange of Hong Kong Limited since October 28, 2019, the company has built a robust portfolio of nine clinical drug candidates. These therapies target crucial biological pathways, notably those involving Bcl-2, dual Bcl-2/Bcl-xL inhibitors, IAP, MDM2-p53, and next-generation tyrosine kinase inhibitors (TKIs). Remarkably, Ascentage Pharma is unique in its active clinical programs targeting all three known classes of apoptosis regulators.

The company’s clinical endeavors are extensive, with over 40 trials, including five phase III studies spread across the US, Australia, Europe, and China. Ascentage Pharma’s commitment to innovation is further exemplified by its participation in several significant National R&D Projects, including five Major New Drug Projects and other initiatives focused on infectious disease prevention and treatment.

A core triumph for Ascentage Pharma is olverembatinib, a drug developed to combat drug-resistant chronic myeloid leukemia (CML). This drug has achieved multiple designations from the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA), including Priority Review and Breakthrough Therapy. Furthermore, olverembatinib has been included in China’s 2022 National Reimbursement Drug List (NRDL) and has received Orphan Drug and Fast Track Designations from the US FDA, as well as Orphan Designation from the EMA of the EU. To date, Ascentage Pharma holds 16 ODDs from the US FDA and one Orphan Designation from the EMA for four of its investigational drugs.

Leveraging substantial research and development (R&D) capabilities, Ascentage Pharma maintains a comprehensive portfolio of global intellectual property rights. The company collaborates with prominent biotechnology and pharmaceutical organizations and research institutes, including UNITY Biotechnology, MD Anderson Cancer Center, Mayo Clinic, Dana-Farber Cancer Institute, MSD, and AstraZeneca. This collaborative approach underscores Ascentage Pharma’s commitment to innovation and excellence in drug discovery and development.

The company also boasts a highly skilled team with global expertise, focusing on the discovery, development, and commercialization of innovative drugs. Ascentage Pharma is actively establishing world-class commercial manufacturing and sales teams to bring their novel therapies to market effectively. The company's ongoing objective is to enhance its R&D capabilities and expedite its clinical programs, aiming to meet the clinical needs of patients in China and globally.

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