Bayer and RTW Investments, LP( “ RTW ”) moment blazoned an equity investment into Ji Xing Pharmaceuticals Limited( “ JIXING ”) in the quantum of USD 35 million and USD 127 million independently. JIXING, innovated and backed by RTW, is a clinical- stage biopharmaceutical company committed to bringing innovative drugs to Chinese cases with serious and life- hanging conditions. The collaboration will grant Bayer privileged rights to negotiate the commercialization of JIXING’s channel means in the areas of cardiovascular conditions and ophthalmology.
In addition to tapping into Bayer’s deep experience in the cardiovascular and ophthalmology fields, the collaboration will work the company’s significant presence in China. Bayer and JIXING will also form a common portfolio strategy commission to explore implicit fresh business development openings, and Xiaolan Zhou, Executive Vice President, Pharmaceuticals Division, Bayer AG, President of Bayer Pharmaceuticals China, President of Bayer Greater China, will join JIXING’s Board of Directors.
“ uniting with RTW is an important step in our ongoing sweats to transfigure patient care in areas of high unmet medical need, ” said Juergen Eckhardt,M.D., Member of the Executive Committee of Bayer’s medicinals Division and Head of Business Development, Licensing & Open Innovation and Head of hops by Bayer. “ With the investment in JIXING, we continue to expand our global network and strengthen our original presence in China. ”
“ JIXING is on an instigative growth line, driven by a world- class exploration and development platoon with a unique understanding of how to most effectively deliver innovative curatives that address complicated conditions to millions of Chinese cases, ” said Roderick Wong, Managing Partner and Chief Investment Officer of RTW. “ We believe JIXING is well- deposited to achieve its charge to bring advance rectifiers for millions of people across China. ”
“ We’re pleased to enter into this strategic cooperation with Bayer, a leading transnational pharmaceutical company with a strong presence in China, ” said Sandy Mou, Board Executive Director and Chief Executive Officer of JIXING. “ moment’s mileposts will help, strengthen JIXING’s capabilities to develop and produce new medicines from preclinical stage to request launch, and enable us to fleetly expand our reach encyclopedically. We look forward to continuing to advance and deliver innovative curatives and results to cases. ”
Leaps by Bayer, the impact investment arm of Bayer AG, is joining RTW, who incubated JIXING in 2019, in leading JIXING’s Series D backing.
ut Bayer
Bayer is a global enterprise with core capabilities in the life wisdom fields of health care and nutrition. Its products and services are designed to help people and the earth thrive by supporting sweats to master the major challenges presented by a growing and growing global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and produce value through invention and growth. The Bayer brand stands for trust, trustability and quality throughout the world. In financial 2022, the Group employed around 101,000 people and had deals of50.7 billion euros. R&D charges before special particulars amounted to6.2 billion euros
About JIXING
JIXING is a biopharmaceutical company headquartered in Shanghai committed to bringing innovative wisdom and drugs to underserved cases in China with serious and life- hanging conditions. Backed by RTW Investments, LP, JIXING was innovated in 2019 and mates with global biotechnology companies to develop and manipulate new, innovative rectifiers to treat unmet medical requirements in cardiovascular and ophthalmic conditions. With a strong and farther developing asset channel, seasoned operation platoon, and case- centric focus, JIXING is devoted to delivering a meaningful and continuing impact on cases in China.
JIXING’s cardiovascular portfolio includes 3 means in late- stage clinical development( aficamten, etripamil, omecamtiv mecarbil) and 1 inpre-clinical stage( JX09). JIXING’s ophthalmology portfolio includes 4 means in late- stage clinical development( varenicline result nasal spray/ US brand name TYRVAYA, OC- 02 nasal spray, JX06/ LNZ100, JX07/ LNZ101) and 1 asset inpre-clinical stage( JX08). For farther information about JIXING,
Source Link:https://www.bayer.com/
