Chinese Consortium Enters into Agreement to Acquire Ambrx

SHANGHAI, May 21, 2015 /PRNewswire/ — A consortium (the “Consortium”) consisting of entities affiliated with Shanghai Fosun Pharmaceutical Group, HOPU Investments, China Everbright Limited’s healthcare fund (“CEL Healthcare Fund”), and WuXi PharmaTech announced today that the Consortium has signed a merger agreement pursuant to which the Consortium will acquire Ambrx Inc. The transaction is expected to close in the second quarter of 2015, subject to receipt of certain regulatory approvals and satisfaction of customary closing conditions. Other details of the transaction were not disclosed.Ambrx is a clinical-stage biotechnology company focused on discovering and developing first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates. The company’s proprietary technology platforms enable attachment of pharmaceutically active molecules to specific sites within proteins more precisely than prior generations of bio-conjugates and with precision similar to that used to design small-molecule drugs. Ambrx has developed a pipeline of novel product candidates that include antibody-drug conjugates, or ADCs, bi- and multi-specific drug conjugates, and long-acting therapeutic proteins. ADCs are expected to be one of the most important areas of monoclonal antibody development in the next decade, especially in targeted therapies for oncology, an area where Ambrx has a strong internal pipeline. The company’s most advanced internally developed product is ARX788, a site-specific ADC targeting Her2-positive breast cancer that Ambrx expects to begin clinical trials on in 2015. In addition to its internal pipeline, Ambrx collaborates with leading pharmaceutical companies, including Bristol-Myers Squibb, Merck, Eli Lilly, and Agensys. Ambrx’s most advanced collaboration product candidate in human health is ARX618, a long-acting fibroblast growth factor 21 for type 2 diabetes, for which collaboration partner Bristol-Myers Squibb is conducting Phase...

Ambrx and Zhejiang Hisun Pharmaceutical to Collaborate on the Development and Commercialization of Bispecifics for Cancer

SAN DIEGO and TAIZHOU CITY, China, April 29, 2014 – Ambrx Inc. and Zhejiang Hisun Pharmaceutical Company Ltd. (SSE Code: 600267) today announced a collaboration for the development and commercialization of bispecifics based on Ambrx technology for the treatment of cancer.  Hisun will have commercial rights to the products in China, while Ambrx will retain commercial rights outside of China and will be entitled to receive royalties on sales of the products in China. Hisun will manufacture the product to cGMP standards for clinical and commercial supplies on a global basis. “This is a milestone for our company and a significant opportunity for us with Hisun as we develop bispecifics using our technology platform,” said Lawson Macartney, Ph.D., Chief Executive Officer of Ambrx. “Hisun represents a strong strategic partner with the right regulatory and manufacturing expertise. We believe that this collaboration is additional validation of our technology platform and its potential for many clinical applications.” Hua Bai, Chief Executive Officer and Chairman of Hisun commented, “We are excited to partner with Ambrx, a prominent biotechnology company with a robust technology platform for the development of bispecifics. This partnership will help Hisun to expand our pipeline and advance our position in the biopharmaceutical industry across the globe.” About Ambrx Ambrx Inc. is a clinical stage biopharmaceutical company focused on discovering and developing first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates. The company is developing ARX201, a long-acting growth hormone that has successfully completed Phase 2b clinical trials. Ambrx has entered into ADC collaborations with Merck, Astellas, Bristol-Myers Squibb and Zhejiang Medicine as well as collaborations to discover and develop...

Ambrx and Zhejiang Medicine Co. Ltd. Form Collaboration to Develop and Commercialize Ambrx’s Antibody Drug Conjugate for Breast Cancer

San Diego and Shanghai June 14, 2013 Ambrx and Zhejiang Medicine Co. Ltd. (ZMC) today announced that they have formed a collaboration to develop and commercialize ARX788, Ambrx’s most advanced internally developed site-specific antibody drug conjugate (ADC) targeting Her2-positive breast cancer. Under the agreement, Ambrx and ZMC will continue the development of ARX788, with ZMC bearing the ongoing development cost. ZMC will receive commercial rights in China while Ambrx retains commercial rights outside of China and receives royalties on sales of the product in China. ZMC will manufacture the product to world-class standards for clinical and commercial supplies on a global basis. WuXi PharmaTech will provide integrated services for ARX788, including the development and manufacturing of the toxin, antibody and ADC, pre-clinical development and clinical trials. “We are excited to initiate this unique collaboration with ZMC and WuXi, which allows us to team up with China’s leading pharmaceutical and CRO companies to efficiently develop ARX788, our most advanced ADC therapeutic candidate for both breast cancer and gastric cancer indications,” said Lawson Macartney, Ph.D., Chief Executive Officer of Ambrx. “This collaboration allows Ambrx to further extend our pipeline of ADCs and gain access to the China market through our partnership with ZMC. Our experience with site-specific ADC technology has shown that we have the potential to create best-in-class therapeutic candidates, and we look forward to advancing ARX788 into the clinic to understand its full potential.” Chunbo Li, Chairman of Zhejiang Medicine, commented, “We are honored to partner with Ambrx, a leading biotech company, in ADC drugs. We will work with WuXi PharmaTech to accelerate the development and commercialization of ARX788...

Ambrx Initiates Collaboration with Bristol-Myers Squibb for Discovery, Development of Next-Generation Antibody Drug Conjugates

SAN DIEGO May 3, 2013 Ambrx today entered into a collaboration agreement with Bristol-Myers Squibb (NYSE: BMY) for the discovery and development of novel antibody drug conjugates using Ambrx’s protein medicinal chemistry technology. Under terms of the agreement, Ambrx will receive an upfront payment of $15 million, funding for discovery and research activities, and potential development, regulatory and sales based milestone payments of up to $97 million per product resulting from the collaboration. Bristol-Myers Squibb will receive worldwide rights to develop and commercialize products resulting from the collaboration, and Ambrx is eligible to receive royalties on net sales. Additional terms were not disclosed. “Bristol-Myers Squibb is a global biopharmaceutical leader with expertise developing and commercializing novel medicines for the treatment of cancer and other diseases, and we are pleased to enter into a third collaboration with the company to include another aspect of our technology platform,” said Lawson Macartney, Ph.D., chief executive officer of Ambrx. “We look forward to working together to further utilize Ambrx’s technology to discover and advance these antibody drug conjugates for oncology indications.” Ambrx and Bristol-Myers Squibb entered into two separate agreements in September 2011 to research, develop and commercialize biologics created with Ambrx’s protein medicinal chemistry technology. These therapeutic candidates, which target the Fibroblast Growth Factor 21 (FGF-21) protein for the potential treatment of type 2 diabetes, and the Relaxin hormone for the potential treatment of heart failure, are being developed by Bristol-Myers Squibb. About Ambrx Ambrx Inc. is a clinical stage biopharmaceutical company using an expanded genetic code to create best-in-class biotherapeutics, including antibody drug conjugates, bispecific antibodies and proteins with improved pharmacologic...

Astellas and Ambrx Initiate Collaboration for Discovery and Development of Next-Generation Antibody Drug Conjugates for Oncology

TOKYO and SAN DIEGO April 4, 2013 Astellas Pharma Inc. (Tokyo: 4503, “Astellas”) today entered into a collaboration with Ambrx Inc. (“Ambrx”) for the discovery and development of novel antibody drug conjugates (“ADCs”). ADCs allow for the targeted delivery of drugs to the target tissue. Ambrx creates optimized ADCs using its site-specific conjugation technology along with proprietary linkers and payloads. In the preclinical setting, Ambrx ADCs have demonstrated high potency and a wider therapeutic index than ADCs created using conventional non-specific conjugation. Ambrx will receive an upfront payment of $15 million from Astellas, as well as up to $285 million in potential near and long-term research, development, regulatory and sales based milestones for an undisclosed number of targets for ADCs in oncology. A portion of these milestones, as well as royalties on any net sales, will be contingent on eventual successful commercialization of products developed as a result of this partnership. Astellas will receive worldwide rights to develop and commercialize ADCs for oncology. Additional terms of the collaboration are not disclosed at this time. “Agensys, Inc., an affiliate of Astellas which specializes in therapeutic antibody research and development in cancer, has significant experience with ADCs as oncology therapeutics and is looking to further expand its capabilities in this area. Ambrx offers a novel approach to allow creation of site-specific and highly stable conjugations that have the potential to further optimize drug delivery to tumor cells.” said David Stover, Ph.D., Senior Vice President and Agensys Site Head. Added Lawson Macartney, chief executive officer of Ambrx, “We recognize Astellas as a leader in the development of innovative therapeutics for oncology and...

Ambrx Collaborates with Merck to Design and Develop Biologic Drug Conjugates

San Diego, CA June 18, 2012 Ambrx today announced that the company has entered into a collaboration with Merck to design and develop rationally optimized biologic drug conjugates based on Ambrx’s site-specific protein medicinal chemistry technology. “Ambrx’s technology has the potential to provide the foundation for a new family of biologic drug conjugates that selectively deliver small molecules to their site of action,” said Peter G. Schultz, Ph.D., a scientific founder and board member. “Merck’s deep disease area expertise made it the partner of choice in expanding the application of this technology beyond oncology to other important disease areas.” Under the terms of the agreement, Merck gains worldwide rights to develop and commercialize biotherapeutic drug conjugates directed towards a number of pre-specified targets. Ambrx will receive an upfront payment of $15 million and is eligible to receive milestone payments totaling up to $288 million for successful discovery, development and commercialization of candidates to all pre-specified targets. In addition, Ambrx will receive royalties on any net sales of products resulting from the collaboration. “Collaborations are an important part of our strategy to develop a portfolio of next generation protein therapeutics that may offer significant benefits to patients,” said Richard Murray, Ph.D., senior vice president and head of biologics and vaccines research at Merck. “This agreement will allow us to combine Ambrx’s expertise in site-specific protein conjugation chemistry with Merck’s expanding antibody capabilities and extensive small molecule resources.” By combining the targeting properties of biologics with the potent therapeutic properties of small molecules, Merck and Ambrx plan to design and optimize new ways to specifically deliver pharmacologically active compounds to their...