SHANGHAI, July 19, 2021 /PRNewswire/ — Junshi Biosciences (1877.HK, 688180.SH), a biopharmaceutical company driven by innovation and dedicated to the discovery, development, and commercialization of innovative therapies, and Jia Chen Xi Hai, a cutting-edge biotechnology company focused on the optimization of mRNA and delivery vector technologies as well as the research and development of novel nucleic acid-based drugs, today announced that they have entered into a strategic cooperation agreement. Under the agreement, the two companies will jointly establish a joint venture to collaborate globally on the development and commercialization of new drug candidates targeting diseases such as cancer, infectious diseases, and rare diseases, leveraging the mRNA technology platform and other advanced technology platforms.

Jia Chen Xihai boasts a unique mRNA construction and a mature, universal platform that is well-suited for developing both self-replicating mRNA and traditional non-replicating mRNA products, allowing for easy selection of the optimal mRNA format based on the specific disease area. In terms of delivery vectors, Jia Chen Xihai has developed several nano-lipid particle (LNP) formulations tailored for different administration routes, and also possesses substantial technical expertise in the research and development of novel non-LNP delivery systems.

Dr. Li Ning, CEO of Junshi Biosciences “We believe that as the mRNA technology platform continues to mature, its enormous development potential in areas such as infectious diseases, personalized cancer therapies, and rare diseases is becoming increasingly evident. This aligns closely with the therapeutic areas covered by Junshi Biosciences’ R&D pipeline and our goal of exploring next-generation innovative drugs. Jia Chen Xi Hai boasts extensive experience in the industrialization of mRNA technology. We’re extremely excited to join forces with them and, leveraging our locally-owned intellectual-property-based mRNA technology platform, develop more groundbreaking therapies that will collectively advance human health on a global scale,” he said.

Dr. Wang Zihao, CEO of Jia Chen Xihai “We at Jia Chen Xihai are delighted to have entered into a strategic cooperation agreement with Junshi Biosciences and to establish a joint venture company under the terms of this agreement,” said the representative. “We are highly confident that this new entity will leverage the complementary strengths of both parties, enabling us to harness the advantages of the mRNA platform technology—both in tumor immunotherapy and infectious disease prevention—more swiftly and efficiently, while continuously exploring new avenues for application.”

Under the cooperation agreement, Junshi Biosciences will inject cash into the joint venture up to RMB 799 million, with an initial contribution of RMB 200 million, of which RMB 50 million will be used to subscribe for 50% of the joint venture’s registered capital. Jia Chen Xi Hai will invest in the joint venture using intellectual property rights related to its mRNA technology platform; RMB 50 million from the assessed value of this platform will also be used to subscribe for 50% of the joint venture’s registered capital.

About Junshi Biosciences

Junshi Biosciences (688180.SH, 1877.HK) was founded in December 2012. It is a biopharmaceutical company driven by innovation, dedicated to the discovery, development, and commercialization of innovative therapies. The company boasts an extensive pipeline of products in development, including 27 innovative drugs and 2 biosimilars, covering five major therapeutic areas: malignant tumors, autoimmune diseases, chronic metabolic disorders, neurological disorders, and infectious diseases.

Leveraging its core protein-engineering platform technology, Junshi Biosciences is at the forefront of international research and development in large-molecule therapeutics. The company has secured the first domestically produced NMPA approval for an anti-PD-1 monoclonal antibody, the first domestic NMPA approval for a clinical trial application of an anti-PCSK9 monoclonal antibody, and the world’s first clinical trial approval from both China’s NMPA and the U.S. FDA for an anti-BTLA blocking antibody designed to treat cancer—currently undergoing Phase I clinical trials in both China and the United States. In 2020, Junshi Biosciences also joined forces with domestic research institutions to fight the pandemic; its jointly developed JS016 became the first domestically produced neutralizing monoclonal antibody against COVID-19 to enter clinical trials. To date, JS016 has received emergency use authorization in the United States and Italy, contributing to disease prevention and control efforts in China and around the world through indigenous innovation. Currently, Junshi Biosciences employs over 2,000 people worldwide, with offices located in San Francisco and Maryland in the U.S., as well as in Shanghai, Suzhou, Beijing, and Guangzhou in China.

About Jiachen Xihai

Jia Chen Xihai is a cutting-edge biopharmaceutical company specializing in the development of novel self-replicating and conventional mRNA-based therapeutics and vaccines. Since its establishment in 2019, the company has experienced steady and rapid growth. It has now established a comprehensive set of mRNA synthesis, purification, and analytical quality-control processes tailored for commercial-scale production, and has developed universal mRNA templates with enhanced expression efficiency—both self-replicating and non-self-replicating mRNA. Leveraging its highly efficient screening platform, Jia Chen Xihai has created a complete mRNA delivery system encompassing polymer-based and nano-liposomal formulations. Jia Chen Xihai owns multiple proprietary intellectual property rights related to cationic lipid complexes designed for targeted delivery to muscles, veins, and tissues. The company’s pipeline covers tumor immunotherapy, infectious disease vaccines, rare diseases, and medical aesthetics. Its tumor immunotherapy and infectious disease vaccine programs are rapidly advancing into clinical trial phases.