Lee's Pharmaceutical Company (00950) signed an exclusive license agreement with 1cBio to develop, manufacture and commercialize OC-3 in mainland China and other places

According to the Zhitong Finance App, Lee's Pharmaceutical (00950) announced that Lee's Pharmaceutical (Hong Kong) Limited (Lee's Hong Kong), a wholly-owned subsidiary of the Group, and 1cBio, Inc. (1cBio, a biotechnology company headquartered in the United States that develops precision drugs in response to major demand gaps) have entered into an exclusive license agreement to develop, produce and commercialize OC-3 in mainland China, Hong Kong, Macau, Taiwan and several other countries in Southeast Asia. OC-3 is a PARP1 inhibitor used to treat cancer with DNA homologous recombination repair defects, including prostate cancer, ovarian cancer, breast cancer, and pancreatic cancer with mutations in known DNA repair genes (such as BRCA1, BRCA2, or PALB2).

Under the agreement, Lee's Hong Kong will be responsible for GLP safety research and production activities required to obtain regulatory approval for OC-3 in the region. The agreement also includes drug supply and production arrangements between the contracting parties. 1cBio will reserve the right to access and use data generated under this agreement for its plans to submit clinical trial applications for new drugs to the US Food and Drug Administration (FDA).

The Group believes that the agreement will further expand and diversify its oncology pipeline in the region by introducing a unique and possibly best-in-class PARP1 inhibitor, and complement the Group's existing infrastructure in drug development, clinical development, regulatory affairs, production, sales and marketing in mainland China and the region.