Salubris Pharmaceutical Limited Invests $5 Million in GO Therapeutics
Strategic investment to help accelerate antibody development programs against novel tumor targets
Cambridge, MA and Shenzhen, China, September 25, 2017 - Salubris Pharmaceutical Limited today announced that it has made a $5M USD Series A investment in GO Therapeutics, a Cambridge, MA-based company exploiting new advances in glycoproteomics to develop novel, multimodal first-in-class cancer therapeutics against intractable targets. This strategic investment extends the company’s expansion to the US and evolution towards leading-edge innovation in oncology and cardiovascular disease.
Earlier this year Salubris announced the opening of the SalubrisBio research facility in the Washington D.C. area to build the company’s internal portfolio of innovative biologic product candidates (www.salubrisbio.com). Kevin Ye, CEO of Salubris, highlighted the GO Therapeutics investment as “the next step in our progression to global, innovative R&D through strategic investments, partnerships, and acquisitions in the US and Europe”.
The generation of solid tumor targeting domains specific to cancer cells remains a significant challenge in the industry. GO Therapeutics' targeting platforms and technologies hold the promise to unlock the full potential of antibody-drug conjugates, bi-specific T-cell engagers, and immune-based cell therapies.
"This investment from Salubris will accelerate the development of our pre-clinical antibody programs, and help support the discovery of new lead candidates against additional prioritized targets of interest. Additionally, Salubris offers future downstream market access to China, which is expected to become a significant consumer of innovative cancer therapies,” said Constantine Theodoropulos, Chief Executive Officer, GO Therapeutics.
About Salubris Pharmaceutical Limited
Salubris is a publicly-traded, fully-integrated pharmaceutical company [002294:CH]. Founded in 1998, Salubris has grown to achieve sales of >$750M USD in 2016. Salubris is headquartered in Shenzhen, China, and has over 3,800 employees working across R&D, regulatory, marketing and sales. Its marketed products include drugs and devices in the cardiovascular, anti-allergy and anti-infective therapeutic areas.
About GO Therapeutics
GO Therapeutics is applying the latest advances in glycobiology to create cancer drugs that are more potent and less toxic. Our cancer specific antibodies against tumor-specific antigens can be used in a multimodal approach to killing cancer, such as antibody-drug-conjugates, bi-specific T-cell engagers and immune-based cell therapies. The company’s scientific team includes some of the leading scientific researchers and applied biologists in glycoproteomics. GO Therapeutics is based in Cambridge, MA. For more information please visit www.gotherapeutics.com.