Ningbo, China (Press Release) – Ningbo NewBay Medical Technology Co., Ltd., a sub­sid­i­ary of Ningbo Tai Kang Medical Technology Co., Ltd. announced today that it has entered into a licensing agree­ment with Genentech, a member of the Roche Group, under which it has been granted the ex­clu­sive global rights to further de­vel­op and com­mer­cial­ize GDC-0570, a small molecule Pan-PIM in­hib­i­tor that is active against multiple myeloma and prostate cancer in pre­clin­i­cal models. PIM kinases regulate cell metabolism, growth and sur­vival.

“We are very pleased to enter this global ex­clu­sive license agree­ment with Genentech. We look for­ward to work­ing with medical experts and global regu­la­tory agents to accelerate clin­i­cal devel­op­ment of this promising inves­ti­ga­tional med­i­cine,” commented Dr. Zhenhai Shen, CEO of Ningbo NewBay Medical Technology Co., Ltd.

Under the agree­ment, Genentech will re­ceive an up­front pay­ment and will be eli­gible to re­ceive mile­stone pay­ments linked to clin­i­cal, regu­la­tory and commercial successes, as well as royalty pay­ments.

About GDC-0570

GDC-0570 is a small molecule Pan-PIM in­hib­i­tor discovered and devel­oped by Genentech. PIM-1/2/3 are Serine/Threonine kinases which play an essential role in the reg­u­la­tion of signal transduction cascades. GDC-0570 is a poten­tial first-in-class drug can­di­date.

About Ningbo NewBay Medical Technology Co., Ltd.

Ningbo NewBay Medical Technology Co., Ltd. is an on­col­ogy focused biopharma com­pany based in China with global devel­op­ment capabilities. It is a wholly owned sub­sid­i­ary of Ningbo Tai Kang Medical Technology Co., Ltd. NewBay and Tai Kang own the Greater China right for two EP4 antagonists from AskAt, Inc. and the global right for c-KIT in­hib­i­tor from AstraZeneca.

Source: Ningbo NewBay Medical Technology.