Fexagratinib

GUANGZHOU, China, April 29, 2021 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (NASDAQ: BNR, the “Company” or “Burning Rock”) today announced a strategic partnership with Abbisko Therapeutics (“Abbisko”) in companion diagnostics (CDx). The two companies will work together to develop a CDx assay for ABSK091 (formerly known as AZD4547) to advance clinical research and development of the drug. The CDx assay is designed to detect FGFR genetic alterations in patients with urothelial carcinoma. ABSK091 is an innovative small molecule FGFR inhibitor, of which Abbisko has the exclusive global rights for development, manufacture, and commercialization. In prior preclinical and multiple clinical studies, ABSK091 has demonstrated good safety and tolerability profiles, as well as preliminary efficacy in cancer patients harboring FGFR alterations. “In the era of precision medicine, personalized cancer therapy relies on precise diagnosis. Leveraging the leading next generation sequencing (NGS) technology, well-proven lab quality control protocol and integrated service system for pharmaceutical companies, Burning Rock will support its partners in the development of innovative oncology drugs,” said Xinru Mao, Head and Senior Director of Pharmaceutical Business Development, Burning Rock, “ABSK091 has shown the potential to treat patients with FGFR signaling pathway-dependent tumors in previous studies. Our collaboration with Abbisko is expected to maximize each other’s strengths to further advance the standardization of FGFR detection for patients with urothelial carcinoma in China.” “As a potent and selective FGFR inhibitor, ABSK091 has the potential to treat a variety of tumors harboring FGFR alterations. Abbisko has obtained the investigational new drug (IND) approval of ABSK091 from National Medical Products Administration (NMPA) for the treatment of patients with urothelial carcinoma, and will initiate phase Ib/II multi-center clinical trials in China soon,” said Jing Ji, Chief Medical Officer of Abbisko, “We look forward to working with Burning Rock to accelerate the clinical development and advance this innovative drug into market as early as possible to provide a novel treatment option for patients and doctors.” About Burning Rock Burning Rock Biotech Limited (NASDAQ: BNR), whose mission is to guard life via science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, with the leading market share in China and over 273,000 tissue and liquid-based tests completed cumulatively, and ii) cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage. For more information about Burning Rock, please visit: ir.brbiotech.com. About Abbisko Therapeutics Founded in April 2016, Abbisko is an oncology focused biopharmaceutical company dedicated to the discovering and developing innovative medicines for unmet medical needs in China and around the world. The company is founded by a group of seasoned drug hunters with rich research and management experience in both top international pharmaceutical companies and Chinese industrial leaders. It is dedicated to developing immune-oncology and target-based therapies for novel and high potential targets, to develop first-in-class or best-in-class molecular entities. The company has built up an extensive internal discovery pipeline in targeted therapy and immune-oncology, among which, several projects have entered in clinical-stage development. Safe Harbor Statement This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Burning Rock may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Burning Rock’s beliefs and expectations, are forward-looking statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Burning Rock’s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. All information provided in this press release is as of the date of this press release, and Burning Rock does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. Contact: IR@brbiotech.com

AstraZeneca is significantly expanding its footprint in China with the establishment of a global research and development center in the country, as well as the launch of a $1 billion fund aimed at supporting that nation’s healthcare sector. AstraZeneca is significantly expanding its footprint in China with the establishment of a global research and development center in that country, as well as the launch of a $1 billion fund aimed at supporting that nation’s healthcare sector. In total, U.K. based AstraZeneca announced three large-scale initiatives in China during the second annual China International Import Expo in Shanghai. In addition to the R&D center and the new investment fund, AstraZeneca is also establishing an artificial intelligence (AI) Innovation Center. Both the R&D center and the AI center will be located in Shanghai, the company said. AstraZeneca has had a presence in China since 1993. The decision to heavily invest in China was due to that country’s emerging presence as a “global scientific powerhouse,” AstraZeneca Chief Executive Officer Pascal Soriot said in a statement. China’s pharmaceutical market has grown significantly in recent years, particularly in oncology. Earlier this year, an IQVIA report projected the country’s pharmaceutical market will grow to between $145 billion and $175 billion by 2022. Soriot said the company has made a decision to “follow the science” and expand its R&D presence in China and work with some of the country’s leading minds to develop innovative medications aimed at treating some of the most common and most serious diseases in China. “We will make the most of our global resources and network to strengthen the connections between China and the rest of the world in the field of healthcare innovation and, ultimately, bring the benefits of that work to patients everywhere,” Soriot said. The Healthcare Industrial Fund, which was launched with China International Capital Corporation Limited (CICC), will seek to drive innovation in China’s healthcare system, AstraZeneca said in its announcement. For AstraZeneca, the Healthcare Industrial Fund is its first and largest-scale healthcare industrial fund. The target size of the fund will be $1 billion. AstraZeneca said the first steps of the fund will be to support Chinese companies, as well as partners based in the Wuxi International Life Science Innovation Campus. The fund will also provide support for international companies looking to establish a presence in China. Leon Wang, president of AstraZeneca China, said the new fund will “inject vitality into the small and medium-sized healthcare innovation enterprises with promising development prospects, so that they can achieve substantial growth in China.” Wang added that AstraZeneca is committed to the development of healthcare in China and exporting those domestic innovations to the global community. The global R&D center will be based in the Jing’an district of central Shanghai. It is expected to more than double the company’s current headcount in China to about 1,000 employees. Its primary focus will be on diseases that are prevalent in China as well as other parts of Asia. AstraZeneca noted that the R&D center will also be available to foment new partnerships with China’s emerging R&D ecosystem. The AI center will bolster the R&D work by capitalizing on the latest digital technologies that can accelerate the delivery of medicines. The AI center will focus on collaborations with technology companies and local start-ups to develop innovative solutions for patients, the company said. In addition to those three announcements, AstraZeneca also made other inroads in China. The company signed a new licensing agreement with India-based Sun Pharmaceutical Industries to bring certain novel products into China and add to AstraZeneca’s China oncology portfolio. AstraZeneca signed licensing agreements with Ningbo Tai King Medical Technology for AZD3229, a KIT inhibitor for gastrointestinal stromal tumors; with Antengene for AZD0364, an Extracellular Receptor Kinase 1/2 inhibitor for RAS/MAPK pathway mutant cancers; and with Abbisko for AZD4547, a Fibroblast Growth Factor Receptors Inhibitor for FGFR-driven cancers. The establishment of five regional headquarters in China. AstraZeneca will also establish local commercial innovation centers in each HQ. hbspt.forms.create({ portalId: "4413123", formId: "c4dda430-e2b0-4083-86f3-ccce0c1d4479" });