$412.5 Million Mabwell Announces Exclusive Licensing Agreement with DISC MEDICINE, INC. for Innovative Drug Candidates of Hematologic Diseases

Release time:Jan 20, 2023

Mabwell (688062.SH), an innovative biopharmaceutical company with the layout of whole industry chain, announced its wholly-owned subsidiary Mabwell Therapeutics has entered into an agreement with DISC MEDICINE, INC. ("Disc") about 9MW3011 (R&D code in the US: MWTX-001, MWTX-002 & MWTX-003). Under the terms of the agreement, Disc will obtain exclusive rights to develop and commercialize 9MW3011 discovered by Mabwell, in the United States, Europe, and other territories outside of Great China and Southeast Asia. Mabwell can obtain a total of up to $412.5 million of down payment and milestone payment, and can also obtain the royalty of close to two digit percentage of net sales of licensed products, of which Disc will pay a one-time non refundable down payment of $10million to Mabwell. 9MW3011 has been approved by NMPA and FDA to carry out clinical trials in China and the United States respectively.

"We've been expanding global business actively and I'm so excited that Mabwell reaches an exclusive license agreement with Disc for 9MW3011 which is an innovative drug independently research & developed by Mabwell Therapeutics," said Datao Liu, Co-founder & CEO of Mabwell, "Disc has rich clinical and preclinical experience in the field of hematological diseases. It will further accelerate the clinical progress of this variety in the world and fulfilling unmet clinical need for patients of hematologic diseases."

"Disc has built deep expertise in the role of iron homeostasis in hematologic disorders, and I am thrilled to expand our portfolio with these highly complementary antibody programs." said John Quisel, J.D., Ph.D., Chief Executive Officer and President of Disc. "We are delighted to be partnering with Mabwell, a company with a strong antibody technology platform. This program is in perfect alignment with our strategy and we look forward to advancing MWTX-003 into phase 1 studies later this year."

The proposed indications of 9MW3011 include a variety of diseases classified as rare in different regions of the world, such as β-thalassemia, polycythemia vera. There are no mature and effective macromolecular drugs for the relevant indications so far. 9MW3011 is expected to be qualified as an orphan drug in the future and become the first-in-class macromolecular drug to regulate iron homeostasis in vivo.

About Disc

Disc Medicine is a clinical-stage biopharmaceutical company committed to discovering, developing, and commercializing novel treatments for patients who suffer from serious hematologic diseases. We are building a portfolio of innovative, first-in-class therapeutic candidates that aim to address a wide spectrum of hematologic diseases by targeting fundamental biological pathways of red blood cell biology, specifically heme biosynthesis and iron homeostasis. For more information, please visit www.discmedicine.com.