Provention Bio out-licenses LSE therapy PRV-3279 in Greater China
Clinical-stage US biotech Provention Bio (Nasdaq: PRVB) has entered into a strategic collaboration with a subsidiary of China’s Huadong Medicine (SZ: 000963) to develop and commercialize PRV-3279, a DART (bispecific antibody-based molecule) targeting the B cell surface proteins CD32B and CD79B, in Greater China (mainland China, Hong Kong, Macau and Taiwan).
Provention Bio, whose shares closed up 3.4% at $14.85 on Friday, will retain all rights to PRV-3279 in the rest of the world.
This collaboration provides Provention Bio access to the second largest pharmaceutical market in the world via Huadong's development, regulatory, and commercial capabilities. PRV-3279 represents the addition of an exciting autoimmune asset to Huadong's growing autoimmunology portfolio. Provention Bio plans to begin a Phase IIa trial of PRV-3279 in systemic lupus erythematosus (SLE) in the second half of 2021 and expects a portion of such trial to be conducted in China.
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