SHANGHAI and NANJING, China, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Junshi Biosciences (HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies, and Impact Therapeutics, a privately held clinical-stage biopharmaceutical company devoted to the discovery and development of targeted anti-cancer therapeutics based on synthetic lethality, annouced today that they reached a strategic agreement to establish a joint venture focusing on the research and development and commercialization of PARP inhibitor, a small moleule anti-tumor agent.

Under the agreement, Junshi Biosciences will contribute at most RMB 300 million in cash, representing 50% of the registered capital of the JV company. Impact Therapeutics will contribute by way of injection of the IMP4297 asset in the collaboration territory (Mainland China, Hong Kong, and Macao), representing the other 50%. Both parties will work closely together to develop IMP4297 in the collaboration territory including conducting the clinical studies of multiple indications, manufacturing and commercialization preparation.

?Impact Therapeutics is a leader among domestic targeted anti-tumor drug discovery companies. We are excited to have the opportunity to partner with Impact to bring domestic innovation to benefit patients in China and beyond. Data showed that Senaparib (IMP427) has superior safety and has the potential to be the best-in-class, which means that IMP427 has great potential as a monotherapy as well as in combination with other agents,? said Ning Li, M.D., Ph.D., Chief Executive Officer of Junshi Biosciences.

Dr. Jun Bao, CEO of Impact Therapeutics, stated that, ?Junshi Biosciences is an emerging innovative pharmaceutical company who has achieved a great deal in anti-cancer therapeutics. We are delighted to establish the collaboration partnership with Junshi. We believe both Impact and Junshi will take advantages of each team?s strength to expedite the clinical development of IMP4297 and explore additional indications to bring more benefit to the patients.?

About Senaparib (IMP4297) Senaparib (IMP4297) is a novel agent targeting PARP (poly-ADP ribose polymerase) developed by Impact. The company is finishing two Phase I studies of senaparib in China and Australia, respectively. The preliminary Phase I data was first presented in ASCO 2019. The updated results of two Ph1 studies will be presented at upcoming world-class clinical conference. So far, over 100 patients with advanced solid tumors were treated with senaparib. Initial clinical results showed that comparing to other PARP inhibitors currently on the market and in clinical trials, senaparib has a wider therapeutic window and a better safety profile. This potentially makes senaparib more suitable for patients taking the drug chronically such as in maintenance therapy. It could also make combination therapies with other anti-cancer agents more tolerable for patients. Therefore, senaparib has the potential to be the best-in-class PARP inhibitor. In China, Impact is conducting a phase II pivotal study of senaparib monotherapy in treating advanced ovarian cancer patients with BRCA mutation who have received at least 2 prior lines of standard treatment (Study SABRINA)and a Phase III study of senaparib as the first-line maintenance treatment in platinum-sensitive advanced ovarian cancer patients (Study FLAMES). Outside China, the Company is also conducting a Ph1/2 study of senaprib in combination with temozolomide in treating advanced small cell lung cancer (SCLC) patients who have received at least 1 line of standard treatment.

About Junshi Biosciences Junshi Biosciences (HKEX: 1877; SSE: 688180) was co-established in December 2012 by alumni of famous universities of China and the United States. The founding team has extensive and solid experience in the cross-border transformation of scientific and technological achievements and substantial expertise in the pharmaceutical industry. Our priority is researching and developing therapeutic antibodies. We are committed to researching, developing, and industrializing innovative monoclonal antibody drugs and other therapeutic protein drugs. The company has established a diversified R & D pipeline comprising 19 innovative candidate drugs and 2 biosimilars, with five therapeutic focus areas covering cancer, autoimmune diseases, metabolic diseases, neurologic diseases, and infectious diseases. Junshi Biosciences was the first Chinese pharmaceutical company that obtained marketing approval for PD-1 monoclonal antibody and clinical trial approval for anti PCSK9 monoclonal antibody from NMPA. The world?s first in human anti-BTLA antibody for solid tumors was officially approved for drug clinical trials by the FDA and NMPA. From this year onwards, Junshi Biosciences pooled its efforts with Chinese science institutions to co-develop JS016, China?s first neutralizing human monoclonal antibodies against SARS-Cov-2, that has entered clinical trial, part of our continuous innovation for disease control and prevention in China and beyond. We have about 2,000 employees in San Francisco and across Maryland in the United States, as well as Shanghai, Suzhou, Beijing, and Guangzhou, China. For more information, please visit:?http://junshipharma.com.

About Impact Therapeutics Impact Therapeutics is a privately held clinical-stage biopharmaceutical company. The Company dedicates to the discovery and development of targeted anti-cancer therapeutics based on synthetic lethality. Impact has assembled the most comprehensive DNA damage response (DDR) global pipeline of novel drug candidates generated by in-house discovery platform and is expanding to other novel synthetic lethality targets to broaden its pipeline. Since inception, Impact has been funded by well-recognized venture capital firms including Lilly Asia Ventures.

Contact Information IR Team: Junshi Biosciences info@junshipharma.com + 86 021-2250 0300 Impact Therapeutics info@impacttherapeutics.com +86 021-6841 1121 Solebury Trout Bob Ai bai@soleburytrout.com + 1 646.378.2926 PR Team: Junshi Biosciences Zhi Li zhi_li@junshipharma.com + 86 021-6105 8800

Impact Therapeutics Yi Xu xuyi@impacttherapeutics.com +86 021-6841 1121