WuXi PharmaTech To Acquire AmbrxBy
A consortium consisting of entities affiliated with Shanghai Fosun Pharmaceutical Group, HOPU Investments, China Everbright Limited’s healthcare fund, and WuXi PharmaTech has agreed to acquire Ambrx Inc., a clinical-stage biopharmaceutical company specializing in developing bio-conjugates, a specializied class of proteins. 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.
Ambrx’s proprietary technology platforms enable attachment of pharmaceutically active molecules to specific sites within proteins. Ambrx has developed a pipeline of product candidates that include antibody-drug conjugates (ADCs), bi- and multi-specific drug conjugates, and long-acting therapeutic proteins. The company’s most advanced internally developed ADC 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 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 II clinical trials in the United States. To date, collaborations have provided Ambrx with over $200 million in funding and have the potential to provide milestone payments and royalties on the sale of collaboration products.
Source: WuXi PharmaTech