LEE'S PHARM (00950) has entered into an exclusive licensing agreement with 1cBio to develop, produce, and commercialize OC-3 in mainland China and other regions.

LEE'S PHARM (00950) announced that its wholly-owned subsidiary LEE'S PHARM (Hong Kong) Limited has entered into an exclusive licensing agreement with 1cBio, Inc. (1cBio, a biotech company based in the United States focused on developing precise drugs for significant unmet needs) to develop, manufacture, and commercialize OC-3 in mainland China, Hong Kong, Macau, Taiwan, and several other Southeast Asian countries. OC-3 is a PARP1 inhibitor designed for the treatment of cancers with DNA homologous recombination repair deficiencies, including prostate cancer, ovarian cancer, breast cancer, and pancreatic cancer with known DNA repair gene mutations (such as BRCA1, BRCA2, or PALB2). Under the agreement, LEE'S PHARM (Hong Kong) will be responsible for the GLP safety studies and manufacturing activities required to obtain regulatory approval for OC-3 in the region. The agreement also includes drug supply manufacturing arrangements between the contracting parties. 1cBio will retain the right to review and use the data generated under this agreement for its plans to submit a new drug clinical trial application to the U.S. Food and Drug Administration (FDA). The Group believes that this agreement will further expand and diversify its oncology pipeline in the region by introducing a unique and potentially best-in-class PARP1 inhibitor, complementing the Group's existing infrastructure in drug development, clinical development, regulatory affairs, manufacturing, sales, and marketing in mainland China and the region.