Luye Pharma Group announced that its holding subsidiary, Boan Biotech, has signed an agreement with AstraZeneca China regarding the promotion rights to the anticancer drug Boyounuo® (Bevacizumab Injection), under which the former will grant to the latter exclusive promotion rights in the county markets across 21 provinces, municipalities and autonomous regions of China.
The partnership is based on integrating the strengths and resources of both companies at various levels of markets in China. Boan Biotech will coordinate its own business team, commercial networks and resources in the field of oncology to ensure better access to Boyounuo® for patients in key markets. In addition, Boan Biotech will join hands with AstraZeneca to leverage their many years of broad market coverage and channel development in China, especially at the county level, enabling more patients to benefit from the drug.
Boyounuo®, a bio-antibody drug developed by Boan Biotech was recently approved for marketing by China's National Medical Products Administration, for treating advanced, metastatic or recurrent non-small-cell lung cancer and metastatic colorectal cancer. To make it available to patients as quickly as possible, the company arranged the delivery of the first batch of product within ten days of announcing the official approval. Prescriptions have been issued in many cities across the country.
Ms. Hua Jiang, Chief Executive Officer of Boan Biotech said: "AstraZeneca has a broad range of innovative resources and a global network with years of development experience in the oncology therapeutic field and county markets. Our strategic collaboration with AstraZeneca provides an important supplement and extension to the commercial network for Boyounuo®. We will leverage our respective strengths in channels and patient coverage at multiple market levels, as well as explore active collaboration opportunities in overseas markets, to provide high-quality and affordable drugs for more patients."
Mr. Leon Wang, Executive Vice President, International and China President at AstraZeneca said: "At AstraZeneca, patients are at the centre of everything we do. Deeply rooted in China county areas for many years, we work with various parties to ensure more patients benefit from innovative holistic disease management solutions. Boan Biotech is a comprehensive biopharmaceutical company with capabilities across the industry value chain, as well as excellent R&D and manufacturing teams. With their position as a leading local company, we are delighted to be working together and looking forward to our close collaboration in the future, bringing more innovative solutions to patients at the county level and expanding on continued efforts to meet the growing health needs in China."
About Boan Biotech
As a holding subsidiary of Luye Pharma Group, Boan Biotech is a fully integrated biopharmaceutical company that specializes in therapeutic antibody development, manufacturing and commercialization with a focus on oncology, immunology, pain, and endocrine diseases. Boan Biotech's antibody discovery work is based on three technology platforms: Human Antibody Transgenic Mouse and Phage Display Technology, Bispecific T-cell Engager Technology, and ADC Technology. Through leveraging its efficient and innovative capabilities, the company has developed more than 10 innovative antibody product candidates with international intellectual property protection, and 8 biosimilar products.
Boan Biotech has expertise in the full industry chain: antibody generation, lead optimization, cell line development, process development, technology transfer, pilot production, and commercial manufacturing. The company is also actively exploring other cutting-edge technologies. Its cell therapy products use non-viral vectors for CAR-T...
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