BOSTON, MA, September 06, 2017 /24-7PressRelease/
-- Andarix Pharmaceuticals, Inc.
, a clinical stage company, and Wuxi Fortune Pharmaceuticals announced today the signing of an agreement to develop and commercialize a drug to treat lung and other cancers. As part of the agreement Wuxi Fortune will have certain rights to the China market for Tozaride, a targeted peptide therapy. Wuxi Fortune and Andarix will collaborate on Tozaride clinical development. Tripoint Global Equities, LLC. was the placement agent and financial advisor to the transaction.
"We are honored to work with Wuxi Fortune Pharmaceuticals to bring this important therapeutic technology to China. The collaboration represents a significant opportunity to continue clinical development with an experienced and highly respected pharma partner," says Chris Adams, CEO of Andarix. "The Andarix technology represents a potential therapeutic breakthrough in lung cancer and we look forward to working with the company to bring the product to market," Jianguo Xu, General Manager, Wuxi Fortune Pharmaceuticals.
Tozaride is a novel, best-in-class therapy for lung, pancreatic and other cancers based on a radio-labeled somatostatin peptide analogue. Early clinical studies of Tozaride demonstrated that it is well tolerated and may produce prolonged stable disease and improved overall survival in advanced lung cancer patients whose disease has continued to progress after failing other therapies. Tozaride targeted radiotherapy represents a new treatment paradigm which is expected to yield significant clinical benefit for both small cell lung cancer (SCLC), and non-small cell (NSCLC) patients, and which will provide another treatment option for patients who are not eligible for, or who have not responded to current therapies.
Andarix Pharmaceuticals is at the forefront of personalized therapies for cancer, developing both the imaging agents that can identify appropriate patients, as well as the targeted therapies for these patients. The company's products have progressed through early clinical development. The Andarix technology is based on a proprietary somatostatin peptide conjugate applicable to lung, pancreatic, neuroendocrine, and other cancers Extensive research has demonstrated that somatostatin receptors are highly up-regulated on several solid tumors, particularly lung cancers. Pancreatic cancer is responsible for significant cancer mortality in the United States, with over 50,000 new diagnoses of pancreatic cancer and over 50,000 deaths attributable to this disease annually. To learn more about Andarix, please visit www.andarix.com
About Wuxi Fortune Pharmaceuticals Co., Ltd.
Wuxi Fortune Pharmaceutical
Co., Ltd (China), with more than 70 years history in pharmaceutical industry, specializes in the developing and manufacturing of APIs and finished products. Wuxi Fortune established the perfect quality management system to ensure the quality of products, and all of the business activities are organized based on the requirements of Chinese GMP, cGMP, Eu-GMP and ICHQ7. Wuxi Fortune has passed the GMP inspections organized by the authorities of CFDA, BGV of Germany and US FDA.
The main APIs were registered and sold in many countries or regions all over the world, and the international market share for Spiramycin, Netilmicin Sulfate and Ribostamycin Sulfate entered the top three. To learn more about Wuxi Fortune, please visit www.wuxifortune.com.cn
About TriPoint Global Equities
, LLC ("TriPoint "), a FINRA member firm, is a boutique investment bank, with corporate finance and sales and trading services. TriPoint focuses on providing U.S. and non-U.S. companies of up to $500 million in revenue with capital raising, corporate finance advisory services and assistance with navigating the regulatory environment for companies listing on U.S. markets. TriPoint Global maintains specialized practices in institutional private placements, IPO's, Regulation A+ Offerings, mergers and acquisitions, and corporate finance. TriPoint has offices in New York City, Jericho, NY, Akron, OH, Beijing China and Washington, D.C. For more information, please visit http://www.tripointglobalequities.com