GC Biopharma Signs Agreement with Catalyst Biosciences for the Acquisition of Rare Disease Pipeline in Hematology
- Entered into an acquisition deal of 3 programs
YONGIN, South Korea, Feb. 27, 2023 /PRNewswire/ -- GC Biopharma Corp. (006280.KS), a leading provider of biopharmaceutical products in South Korea, announced today that it has signed an Asset Purchase Agreement with Catalyst Biosciences (NASDAQ : CBIO) to acquire 3 programs related to the orphan hematology disorders.
This agreement will bring to GC Biopharma 3 programs, including "Marzeptacog alfa (MarzAA)", an engineered factor VIIa which is ready for Phase 3 clinical stage development.
In its previous clinical development trials, "MarzAA" demonstrated efficacy and safety as a treatment for rare bleeding disorders. More significantly, "MarzAA", unlike majority of existing therapeutics, is delivered by subcutaneous injection, making it more convenient to administer and less burdensome for the patients, who require life-long treatment.
It is GC Biopharma's plan to continue development of the asset in pursuit of launching a first-in-class novel drug that will pave the way for the company to make inroads into the global markets, including the US and other advanced markets.
Since its founding, GC Biopharma has worked on providing better therapeutic options for hemophilia, one of the most well-known rare bleeding disorders. "Green Mono", a plasma-derived FVIII drug, and "GreenGene F", a recombinant FVIII drug are hemophilia drugs exclusively developed by the company. GC Biopharma is keen to develop new drugs for various orphan disorders not only through its in-house R&D capabilities, but also through leveraging its strength in managing external partnerships.
Nassim Usman, Ph.D., President and CEO of Catalyst Biosciences, said, "We are pleased that GC Biopharma has purchased our hemophilia assets and will continue their clinical development to potentially bring new transformative treatments for several bleeding disorders".
"We will extend our continuous global endeavour to improve therapeutic treatments for patients suffering from many orphan disorders, including rare bleeding disorders", said Eun-Chul Huh, Ph.D., President of GC Biopharma.
RM Global Partners LLC acted as GC Biopharma's advisors for this transaction.
About GC Biopharma
GC Biopharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Biopharma is one of the leading plasma protein and vaccine product manufacturers globally and has been dedicated to quality healthcare solutions for more than half a century.
This press release may contain forward-looking statements, which express the current beliefs and expectations of GC Biopharma's management. Such statements do not represent any guarantee by GC Biopharma or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Biopharma undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.
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SOURCE GC Biopharma
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