Beijing Aosaikang Pharmaceutical Co., Ltd. (002755.SZ) Subsidiary Signs Licensing Agreement for ASKG712 Project

Stock News10-17

Beijing Aosaikang Pharmaceutical Co., Ltd. (002755.SZ) announced that its subsidiary, AskGene Pharma, Inc. ("AskGene Pharma"), has entered into a licensing agreement with Visara, Inc. ("Visara"). This agreement grants Visara the rights to commercialize the ASKG712 project, an innovative Class 1 drug developed by AskGene Pharma that possesses independent intellectual property rights, within the licensed region.

ASKG712 is a novel drug that targets both VEGF and ANG-2. It effectively blocks the VEGF/VEGFR signaling pathway to control neovascularization while simultaneously inhibiting ANG-2 signaling to improve vascular stability and reduce retinal inflammation. Currently, it is in the Phase IIa clinical trial stage in China for treating retinal macular diseases. The results from the Phase I dose escalation and expansion have shown that ASKG712 has good safety and efficacy. Preclinical data also indicate that ASKG712 has a stronger binding affinity for VEGF and ANG-2 compared to existing treatments, potentially enhancing efficacy while extending the dosing interval and reducing the frequency of ocular injections, thus improving patient compliance.

This licensing agreement is expected to facilitate the research and commercialization of the ASKG712 project in the licensed region and allow the company to further focus its innovative drug development in fields such as digestion, oncology, anti-infection, and chronic diseases, aligning with the company's overall strategic direction. The execution of this agreement is anticipated to positively impact the company's future performance.

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