iBio, CC-Pharming Expand Collaboration in China

iBio, Inc. has expanded the scope of its business venture with CC-Pharming Ltd. by granting it an exclusive, royalty-bearing commercial license to iBio’s bio-better rituximab (iBio Rituximab) product candidates for the territory of China. In addition, the company will grant to CC-Pharming a research license to iBio’s FastPharming System and know-how for the evaluation of multiple product opportunities.
 
The companies are jointly pursuing the medical and business goal of introducing a bio-better rituximab that is more affordable in price to the Chinese market. Additionally, the companies plan to develop products other categories, particularly research and clinical reagents, non-pharmaceutical skincare products and botanical derivatives. iBio and CC-Pharming are currently evaluating the business feasibility of developing additional biopharmaceutical products for oncology, metabolic disorders, and fibrotic disease.
 
"We believe this is an important strategic relationship for both parties: it enables us to participate in the vast Chinese market using our existing assets, while CC Pharming uses our technology to provide China’s massive population with access to cost-effective critical drugs," commented Robert B. Kay, iBio’s Chairman and CEO. "The expanded scope of our partnership with CC-Pharming aims first to advance our plant-derived, bio-better rituximab toward commercialization in the near term, while we jointly explore opportunities to develop and commercialize additional high value products."
 
"iBio’s plant-based production technology is an elegant approach to biopharmaceutical manufacturing, particularly when applied to rituximab, one of the world’s top-selling drugs," said Dr. Kevin Wang, CC-Pharming’s Chairman and Chief Scientific Officer. "China was a relative newcomer to the biopharmaceutical industry. With economic development, the country is becoming a top destination for complex biologics. The total value of China’s biopharma market reached $130 billion in 2018. iBio’s plant-based production system has the potential to produce biopharmaceuticals, as well as non-pharmaceutical products, in a more timely and cost-efficient manner, so we are excited to identify other opportunities to apply iBio’s technology."

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