class = “sc-cffd1e67-0 fmXrkB”>
The transaction is one of the few acquisitions of a Chinese biotechnology company by a multinational pharmaceutical company, Sanreno said on Friday. Sanreno was founded as a joint venture between a consortium of investors and the US company Chinook Therapeutics.
Novartis acquired Chinook in the summer of 2023 for $3.2 billion. No information was provided about the financial terms of the Sanreno acquisition.
According to the information, Sanreno has exclusive rights to the active ingredients Atrasentan and Zigakibart in China and Singapore. Atrasentan demonstrated a significant reduction in proteinuria (excessive excretion of proteins) in a phase 3 study, thus meeting the primary study objective. The Zigakibart antibody, which will combat the cytokine APRIL, received approval to initiate phase 3 studies in China in October 2023.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
