Beijing Aosaikang subsidiary licenses ASKG712 to I-Mab unit Visara

Beijing Aosaikang Pharmaceutical announced that its subsidiary, AskGene Pharma, has signed a licensing agreement with Visara, Inc., a wholly-owned subsidiary of I-Mab. This agreement grants Visara exclusive rights to develop, manufacture, and commercialize AskGene Pharma’s Class 1 innovative drug, ASKG712, in the Greater China region and other Asian territories including Singapore, Thailand, Malaysia, Indonesia, Vietnam, South Korea, and India.

The deal includes an upfront payment of $7 million to AskGene Pharma within 30 days of the agreement's effective date. Additionally, AskGene Pharma stands to receive milestone payments up to $89 million related to research, registration, and commercialization, along with royalties based on annual net sales in the licensed territories.

ASKG712 is a dual-target innovative drug (VEGF and ANG-2) currently in China's Phase IIa clinical trials for eye-related macular diseases, showing promising safety and efficacy in preclinical and Phase I studies. The licensing is expected to enhance ASKG712's development and commercialization, aligning with Beijing Aosaikang's strategic focus on digestive, oncology, anti-infective, and chronic disease treatments.