SINO BIOPHARM (01177) signs equity investment and strategic cooperation agreement with Lixin Pharmaceutical.

SINO BIOPHARM (01177) announced that the group has signed an equity investment and strategic cooperation agreement with Lixi Medicine Technology (Shanghai) Co., Ltd. (Lixi Medicine). The group will invest in Lixi Medicine with self-raised funds and reach a strategic cooperation agreement on LM-108 and future potential multiple innovative bispecific antibodies or antibody-drug conjugates (ADC) in mainland China. Lixi Medicine announced on October 18, 2024 that it had completed a CNY 300 million Series C1 financing, with the funds raised being used to accelerate the clinical pipeline drug development and innovative platform construction. According to the capital increase subscription agreement, the group, as the lead investor in this financing round, will pay CNY 142 million to Lixi Medicine to acquire a 4.91% equity stake after the transaction. The group and Lixi Medicine have reached a strategic cooperation agreement on LM-108 in mainland China. In addition, the group has the right to choose multiple innovative bispecific antibodies or ADC drugs in Lixi Medicine's pipeline for cooperation, with specific terms to be agreed upon separately. LM-108 is a monoclonal antibody targeting CCR8 developed by Lixi Medicine based on its exclusive multiple transmembrane protein antibody discovery platform. CCR8 is specifically expressed in regulatory T cells (Treg) in the tumor microenvironment, with high expression only in tumor-infiltrating Treg and minimal expression in peripheral blood. Specific expression of CCR8 has been observed in Treg of breast cancer, lung cancer, colon cancer, and head and neck cancer. LM-108 specifically eliminates tumor-infiltrating Treg without affecting peripheral Treg, enhancing the immune killing effect on tumor cells. LM-108 is currently in phase II clinical trials, with its development progress ranking first in China among projects targeting the same site and top three globally. Early-stage exploratory clinical research data show that LM-108 demonstrates good safety and efficacy in the treatment of various solid tumors, providing a better treatment option for advanced cancer patients. The announcement states that the field of oncology is one of the key focus areas for the group's innovative development. After years of deep cultivation, multiple blockbuster products have been approved for marketing, and several innovative drug projects are in the clinical development stage. Lixi Medicine is a company focusing on the development of innovative drugs in the field of oncology, with monoclonal antibody screening platforms, bispecific antibody technology platforms, and ADC drug development technology platforms, as well as multiple differentiated innovative drug development pipelines. The group has accumulated rich clinical development and commercialization advantages and resources in the biopharmaceutical industry. Through this equity investment and strategic cooperation, the group will further enrich and improve its pipeline layout in the field of oncology and provide comprehensive support for the development and commercialization of Lixi Medicine's innovative drug pipeline, accelerating product market access and benefiting more cancer patients.