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PISCATAWAY, N.J., Nov. 15, 2024 /PRNewswire/ -- GenScript Biotech, a global biotechnology leader in the life science, biologics manufacturing, synthetic biology, and cell therapies announced today that its CDMO subsidiary, ProBio, has licensed its PD-1 new molecular entity (NME) to LaNova Medicines, which recently entered into an agreement with Merck to advance treatment.
LaNova Medicines leveraged ProBio's PD-1 molecule to develop its PD-1/VEGF bispecific antibody, a key component of the LM-299 program. Following LaNova's recent agreement with Merck, GenScript projects that ProBio's partnership with LaNova could generate significant revenue for ProBio, as LaNova Medicines has entered into an exclusive agreement with Merck & Co., Inc for LM-299 for a reported $3.3B.
"We congratulate LaNova Medicines for unlocking the therapeutic potential of our anti-PD-1 NME to treat patients in need," said Patrick Liu, Chair of ProBio's Board of Directors. "This agreement demonstrates ProBio's robust business model, which combines innovative NME development with collaborative process development and manufacturing capabilities."
The agreement underscores ProBio's commitment to delivering cutting-edge therapies, reinforces its position as a leader in immuno-oncology, and differentiates it from other CDMOs.
ProBio's PD-1 is a key component of anti-cancer treatments, and represents the next generation in the fight against cancer.
GenScript has strategic plans underway to expand its global manufacturing capacity, including at ProBio's site in Hopewell, NJ and this financial boost will further support those initiatives.
ABOUT GENSCRIPT
GenScript Biotech Corporation (HK.1548) is a world leader in technologies and services for life science R&D and manufacturing. Built upon its solid DNA synthesis technology, the corporation comprises three business units: life-science services and products, a biologics contract development and manufacturing organization (CDMO), and industrial synthetic enzymes business unit. GenScript accelerates scientific discovery and therapeutic breakthrough with its customers. Since its founding in Piscataway, New Jersey, USA in 2002, GenScript has expanded its operations to serve more than 200,000 customers across 100 countries with a dedicated team of over 5400 employees. More than 100,000 peer-reviewed journal articles worldwide have cited GenScript 's services and products. Guided by its mission to make people and nature healthier through biotechnology, GenScript strives to become the most trustworthy biotech company in the world.
For more information, please visit GenScript's official website https://www.genscript.com.
ABOUT PROBIO
ProBio is a global leader in enabling biotech and pharmaceutical companies to advance the development and manufacturing of next-generation therapies. As a fully integrated end-to-end Contract Development and Manufacturing Organization (CDMO), ProBio supports its partners in optimizing drug development, accelerating time-to-market, and provides comprehensive life-cycle support.
Through a collaborative and risk-sharing model, ProBio offers flexible options for licensing and co-development of new molecular entities. This enables our partners to effectively navigate the complexities of human disease with adaptable and versatile therapeutic approaches.
For more information on our New Molecular Entities program and existing assets, please visit https://hubs.ly/Q02Yj0CZ0.
To learn more about ProBio services, please visit www.probiocdmo.com.
CUSTOMIZED CDMO SOLUTIONS. DEVELOPED BETTER. DELIVERED FASTER.
Media Contact
Michelle Simayi
Director of Corporate Communication
Email – Michelle.simayi@genscript.com
Tel – 732-427-2987
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SOURCE GenScript Biotech Corporation