Hong Kong-based biotech company MabSpace Biosciences has signed a definitive agreement to merge with bioprocessing technologies provider HJB to form a biotherapeutics firm, which will be called Transcenta.
The new entity will have research, development, regulatory and biologics manufacturing capabilities.
MabSpace primarily works on discovery, clinical research and commercial development of new biologic medicines, with focus on antibody-based therapeutics.
The company’s pipeline consists of more than ten antibody programmes across oncology, ophthalmology and nephrology areas. The products are based on its Immune Tolerance Breaking Technology antibody generation platform.
HJB designs and applies bioprocessing technologies to drive biologics R&D and manufacturing. The firm has operations in China and the US, including a 140,000ft² manufacturing facility.
The firm obtained rights for a variety of next-generation immunotherapy antibody programmes via in-licensing.
Transcenta is expected to leverage the capabilities of both MabSpace and HJB for the discovery, development and manufacturing of biologics-based drugs. It will have more than ten innovative pipeline molecules.
The combined entity is set to have operations in China and the US at Discovery and Translational Research Center, Suzhou; Process and Product Development Center and Manufacturing Facility, Hangzhou; and Clinical Development Centers in Shanghai, Beijing and Boston.
Transcenta will work towards reducing the timeline from target to BLA, and support the development and commercialisation of both in-house and strategic partner’s pipeline molecules.
Transcenta co-founder and CEO Xueming Qian said: “With the merger of HJB and MabSpace, we can achieve a critical mass, significantly accelerate the development and commercialisation of our innovative pipeline and establish Transcenta as a truly fully integrated biotherapeutics-focused global biotech company.
“This not only enables shorter development timelines, but also provides high-quality biotherapeutics at a much lower cost to ensure affordability and sustained profitability.”
HJB and MabSpace have so far collectively raised nearly $160m from multiple investors, including Lilly Asia Ventures, Sequoia China, Temasek, Taikang, ARCH Venture Partners and Teng Yue Partners.