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Athenex Announces Axis Therapeutics Enters into MOU with Hong Kong Polytechnic University
Jul. 18, 2018 09:05AM PST
Biotech InvestingAthenex (NASDAQ:ATNX) has announced that Axis Therapeutics has entered into an MOU with the Kong Kong Polytechnic University to explore the establishment of a joint research center to advance the application of immunotherapy in Kong Kong. As quoted in the press release: Axis Therapeutics, a newly established joint venture to be owned as 55% by …
Athenex (NASDAQ:ATNX) has announced that Axis Therapeutics has entered into an MOU with the Kong Kong Polytechnic University to explore the establishment of a joint research center to advance the application of immunotherapy in Kong Kong.
As quoted in the press release:
Axis Therapeutics, a newly established joint venture to be owned as 55% by Athenex and 45% by Xiangxue Life Sciences (a wholly-owned subsidiary of Xiangxue Pharmaceutical Co., Ltd.), will be primarily focused on the research, development and commercialization of T-cell receptor-engineered T cells (TCR-T), a form of cancer immunotherapy.
Ir Professor Alexander Wai, Vice President (Research Development) of The Hong Kong Polytechnic University, commented, “We are very excited about this collaboration opportunity with Axis Therapeutics. We have been a long-term partner of Athenex, having collaborated on an oral absorption technology for an anti-cancer drug. We are delighted that Athenex has recently also licensed the pegylated genetically engineered arginase project that initially was developed in our University. We have also witnessed the tremendous growth of Athenex in the last few years and impressed by the Athenex leadership. We are delighted that they have chosen The Hong Kong Polytechnic University for this collaboration and believe this partnership will reinforce Hong Kong’s position as a biotechnology hub in the region.”
Mr. YongHui Wang, CEO of Xiangxue Life Sciences and Chairman and CEO of Xiangxue Pharmaceutical, said, “The Hong Kong Polytechnic University has demonstrated leadership in academia and proven to be at the forefront of collaboration with the industry to translate biotechnology R&D initiatives into products that can be developed in a commercial scale. We have been familiar with the Hong Kong Polytechnic University and key faculty members for several years now, having participated in the annual Hong Kong Biotech Innovation Get Together co-hosted by the University, among others, since its inception four years ago. We believe this collaboration will continue to foster our relationship in the biotechnology space.”