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AffaMed and EverInsight merger announced Posted 13/11/2020

AffaMed Therapeutics announced a merger agreement with EverInsight Therapeutics on 10 October 2020.  

AffaMed is a biopharmaceutical company that has focussed on developing therapeutics for ophthalmologic diseases and neurological and psychiatric disorders. In merging, EverInsight’s candidate drugs for treatment of these conditions will be added to AffaMed’s existing portfolio. Going forward, the merged companies will maintain the name AffaMed Therapeutics and will continue to develop treatment options for these disorders with strengthened global R & D capabilities. AffaMed and EverInsight both emerged from the CBC Group (formerly known as C-Bridge Capital), a China-based healthcare-dedicated investment company.

AffaMed’s existing portfolio includes the rights for biosimilars of ranibizumab (Lucentis®) and aflibercept (Eylea®) in China and Singapore. The company  has partnerships/agreements with other companies such as South Korea’s Samsung Bioepis [1] and Japan’s Kissei Pharmaceutical. The latter hopes to yield the commercialization of an agent for Parkinson’s disease (KDT-3594).

It was also announced that Dr Dayao Zhao has been appointed as CEO of the combined company. In their statement, the merging companies showcased the experience of Dr Zhao who has previously served as CEO of EverInsight, and of Eucure Pharmaceuticals. He has also held senior leadership positions at Pfizer, the Development China organization, Johnson and Johnson’s pharmaceutical division, and Genzyme; and holds a PhD from Harvard Medical School and an MD degree from Peking University Medical School. Dr Zhao reiterated that, in the merger, EverInsight will bring a strong portfolio in ophthalmologic, neurological and psychiatric disorders. This includes a neurosteroid nasal spray, PH94B, for social anxiety disorder which is moving into phase III development; a product that has licensing rights from VistaGen Therapeutics in Greater China, Korea and Southeast Asia. In addition, he stressed that in China, the new AffaMed will now be well positioned as the partner of choice in ophthalmologic diseases and neurological and psychiatric disorders.

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Reference
1. GaBI Online - Generics and Biosimilars Initiative. Samsung Bioepis and AffaMed to start trastuzumab trial in China [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2020 Nov 13]. Available from: www.gabionline.net/Biosimilars/News/Samsung-Bioepis-and-AffaMed-to-start-trastuzumab-trial-in-China 

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