Biotherapeutics companies to ‘achieve critical mass’ after merger
HJB and MabSpace entered a merger agreement to create the biotherapeutics company, Transcenta Holding. The company will leverage the capabilities of both HJB and MabSpace for biologics-based therapeutics, discovery, development, and manufacturing.
Through the merger, the new company will have over 10 pipeline molecules. The two companies have raised approximately $160m (€140.7m) from investors for the establishment of Transcenta. The company will also aim to enter strategic partnerships to grow its pipeline.
“With the merger of HJB and MabSpace, we can achieve a critical mass, significantly accelerate the development and commercialization of our innovative pipeline and establish Transcenta as a truly fully integrated biotherapeutics-focused global biotech company," said Xueming Qian, Transcenta's co-founder and CEO, in a statement.
The creation of Transcenta will aim to shorten the drug development timeline to biologic licensing application (BLA). According to the companies, Transcenta will make use of its good manufacturing practice (GMP) facilities to support the development and commercialization of both in-house and pipeline molecules from partnerships.
MabSpace is a clinical-stage biotech headquartered in Hong Kong and possesses research, discovery, and commercialization capabilities. Its 50,000 square-foot, antibody discovery, and development facility in Biobay, Suzhou, will be available to Transcenta after the completion of the merger.
Additionally, the company will gain access to MabSpace’s established pipeline of over ten programs in oncology, ophthalmology, and nephrology.
HJB is a global company – with sites in Shanghai and Hangzhuo, China, and Boston, US – that specializes in technology for biologic research and development.
The newly formed company will possess HJB’s global and Chinese rights for several immunotherapy drugs, and its bioprocessing technologies for accelerated biologics research and development and manufacturing.