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WuXi Biologics and Hangzhou DAC Signed Research Service Agreement with Aadi Bioscience on Three Novel ADCs
Dec. 20, 2024
WuXi Biologics and Hangzhou DAC Signed Research Service Agreement with Aadi Bioscience on Three Novel ADCs
SHANGHAI, Dec. 20, 2024 – WuXi Biologics (“WuXi Bio”) (2269. HK), a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), today announced that it and Hangzhou DAC Biotechnology CO., LTD. (Hangzhou DAC) have signed a research service agreement with Aadi Bioscience, Inc. (NASDAQ: AADI) for a three-asset portfolio of preclinical next-wave antibody-drug conjugates (ADCs).
    
These assets were discovered through the collaborative efforts of WuXi Biologics and Hangzhou DAC, utilizing the innovative antibody discovery platform provided by WuXi Biologics and advanced linker-payload technology provided by Hangzhou DAC. Per the terms of the agreement, Aadi will pay WuXi Biologics and Hangzhou DAC upfront payments of $44 million for the three assets. Additionally, Aadi is obligated to pay cumulative development milestone payments of up to $265 million, cumulative commercial milestone payments of up to $540 million and single-digit royalties of sales.
     
“Leveraging our advanced antibody discovery service, we’re glad to enable Aadi to accelerate the discovery of precision therapies targeting some of the most challenging cancers,” said Dr. Chris Chen, CEO of WuXi Biologics. “This collaboration underscores our wide recognition as an industry leader in discovery service solutions, and further validates our ability to provide integrated discovery technology platforms for global partners to develop next-generation modalities. We look forward to partnering with Aadi and Hangzhou DAC to expeditiously move these assets forward into clinical development and benefit patients worldwide.”
     
“I’m thrilled to announce our partnership with WuXi Biologics and Hangzhou DAC to bring forward this thoughtfully selected ADC portfolio. We were deliberate in identifying broadly expressed tumor targets where first-generation ADCs have already shown proof of concept. With our next wave ADC portfolio, we aim to build upon these earlier therapies to deliver improved outcomes for people living with cancer,” said David Lennon, PhD, President and CEO of Aadi Bioscience.
    
“We are thrilled to announce this strategic collaboration with Aadi and WuXi Bio,” said Robert Y. Zhao, founder and CEO of Hangzhou DAC. “Aadi’s in-depth knowledge of precision oncology and expertise in clinical development will provide robust support for future development of these three ADC programs. Meanwhile, we look forward to advancing our strategic collaboration with WuXi Bio and developing more innovative ADCs.” 
     
About WuXi Biologics
    
WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.
    
With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of June 30, 2024, WuXi Biologics is supporting 742 integrated client projects, including 16 in commercial manufacturing (excluding COVID CMO projects and non-COVID dormant CMO project).
     
WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean-energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability.
    
For more information about WuXi Biologics, please visit: www.wuxibiologics.com
    
About Aadi Bioscience
    
Aadi is a precision oncology company focused on the commercialization of FYARRO® for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa). More information on the Company is available on the Aadi website at www.aadibio.com and connect with us on Twitter and LinkedIn.
    
About Hangzhou DAC Biotechnology Co., Ltd.
    
Founded in 2012, Hangzhou DAC Biotechnology Co., Ltd. is a clinical stage biotech company, specializing in developing breakthrough ADC therapies. The company has established an end-to-end ADC drug development platform with the capacity of discovery, development and GMP production, and has built a rich product pipeline of over 40 ADC drugs, 6 of which are under clinical development.
    
Hangzhou DAC holds over 30 PCT patents and has filed over 600 patent applications worldwide. Leveraging its proprietary ADC platform, the company has established broad collaborations with multiple international pharmaceutical companies, including Johnson & Johnson.
     
 
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