Anji Pharmaceuticals Licenses Regional Rights to a Clinical Asset from Global Pharma
CAMBRIDGE, Mass. & SHANGHAI--(BUSINESS WIRE)--Dec 18, 2018--Anji Pharmaceuticals, Inc. (“Anji” or “the Company”) announced today it has licensed pradigastat, an inhibitor of acyl coA: diacylglycerol acyl transferase (DGAT1), from Novartis (NYSE: NVS). Pradigastat is a well-characterized molecule which has progressed to Phase 3 clinical testing. Anji has secured rights to pursue new indications for pradigastat, with an initial focus on regulatory approval in China. In exchange, Anji has agreed to make a one-time upfront payment of US $2.0M to Novartis, with additional cash payments and downstream royalties due upon reaching regulatory and sales milestones.
With its platform of using human genetic data to drive target selection, Anji is focused on growing and progressing its clinical and pre-clinical pipeline. Anji has established a nimble and experienced clinical team to advance novel treatment paradigms, especially in under-served patient populations. This strategy reflects Anji’s mission to rapidly bring life-changing therapies to patients and synchronize the clinical development of innovative medicines across the world.
Anji Pharmaceuticals is a clinical stage company dedicated to addressing unmet need by identifying well-characterized compounds for accelerated development in China and rest of the world. More information is available at anjipharma.com.
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CONTACT: Lain Shen
KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA CHINA MASSACHUSETTS
INDUSTRY KEYWORD: HEALTH CLINICAL TRIALS GENETICS PHARMACEUTICAL
SOURCE: Anji Pharmaceuticals, Inc.
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PUB: 12/18/2018 08:14 PM/DISC: 12/18/2018 08:14 PM