GC Biopharma Signs Agreement with Catalyst Biosciences for the Acquisition of Rare Disease Pipeline in Hematology

GC Biopharma has entered into an acquisition agreement with Catalyst Biosciences (CBIO) to obtain three programs focused on orphan hematology disorders.

Rhea-AI Summary

GC Biopharma has entered into an acquisition agreement with Catalyst Biosciences (CBIO) to obtain three programs focused on orphan hematology disorders. This includes the Phase 3-ready 'Marzeptacog alfa (MarzAA)', which has shown efficacy for rare bleeding disorders and offers the convenience of subcutaneous administration. GC Biopharma aims to leverage this acquisition to develop and launch a first-in-class drug, enhancing its position in global markets, particularly in the US. The move aligns with the company's commitment to improving therapeutic options for hemophilia and other rare disorders.

Positive

• Acquisition of three programs enhances pipeline in orphan hematology disorders.
• Marzeptacog alfa (MarzAA) is ready for Phase 3 development, showing efficacy and safety.
• Subcutaneous administration of MarzAA offers improved convenience for patients.
• Strategic intent to penetrate global markets, including the US.

Negative

• None.

Argus Session date unavailable

+23.75% session move Open Argus

Details

News Market Reaction – CBIO

The recorded move for CBIO in the trading session of this news was +23.75%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

• 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/gc-biopharma-signs-agreement-with-catalyst-biosciences-for-the-acquisition-of-rare-disease-pipeline-in-hematology-301757256.html

SOURCE GC Biopharma

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the purpose of GC Biopharma's acquisition of Catalyst Biosciences' programs?

The acquisition aims to enhance GC Biopharma's drug pipeline for orphan hematology disorders, specifically focusing on developing new treatments for rare bleeding disorders.

What programs are included in the acquisition deal with CBIO?

The acquisition includes three programs, notably 'Marzeptacog alfa (MarzAA)', which is prepared for Phase 3 clinical trials.

What is the significance of Marzeptacog alfa (MarzAA) in the acquisition?

Marzeptacog alfa (MarzAA) is significant as it has demonstrated efficacy and safety in clinical trials and offers a novel subcutaneous delivery method for treatment.

When was the acquisition agreement signed?

The acquisition agreement was signed on February 27, 2023.

What impact does this acquisition have on GC Biopharma's market position?

The acquisition positions GC Biopharma to expand its product offerings in global markets, particularly in the US, catering to needs in the orphan hematology sector.