It was out last night at the close:
GC Biopharma Signs Agreement with Catalyst Biosciences for the Acquisition of Rare Disease Pipeline in Hematology
PR Newswire
YONGIN, South Korea , Feb. 27, 2023
-- Entered into an acquisition deal of 3 programs
YONGIN, South Korea , Feb. 27, 2023 /PRNewswire/ -- GC Biopharma Corp. (006280.KS), a leading provider of biopharmaceutical products in South Korea , announced today that it has signed an Asset Purchase Agreement with Catalyst Biosciences (NASDAQ : CBIO) to acquire 3 programs related to the orphan hematology disorders.
This agreement will bring to GC Biopharma 3 programs, including "Marzeptacog alfa (MarzAA)", an engineered factor VIIa which is ready for Phase 3 clinical stage development.
In its previous clinical development trials, "MarzAA" demonstrated efficacy and safety as a treatment for rare bleeding disorders. More significantly, "MarzAA", unlike majority of existing therapeutics, is delivered by subcutaneous injection, making it more convenient to administer and less burdensome for the patients, who require life-long treatment.
It is GC Biopharma's plan to continue development of the asset in pursuit of launching a first-in-class novel drug that will pave the way for the company to make inroads into the global markets, including the US and other advanced markets.
Since its founding, GC Biopharma has worked on providing better therapeutic options for hemophilia, one of the most well-known rare bleeding disorders. "Green Mono", a plasma-derived FVIII drug, and "GreenGene F", a recombinant FVIII drug are hemophilia drugs exclusively developed by the company. GC Biopharma is keen to develop new drugs for various orphan disorders not only through its in-house R&D capabilities, but also through leveraging its strength in managing external partnerships.
Nassim Usman , Ph.D., President and CEO of Catalyst Biosciences , said, "We are pleased that GC Biopharma has purchased our hemophilia assets and will continue their clinical development to potentially bring new transformative treatments for several bleeding disorders".
"We will extend our continuous global endeavour to improve therapeutic treatments for patients suffering from many orphan disorders, including rare bleeding disorders", said Eun-Chul Huh , Ph.D., President of GC Biopharma.
RM Global Partners LLC acted as GC Biopharma's advisors for this transaction.
