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Drug Names(s): GSK2894512
Description: WBI-1001 is thought to inhibit LCK and CK2 produced by activated T-cells and other immune cells, and are derived from metabolites produced by symbiotic bacteria from nematodes in insect larvae.
Welichem and Celestial
In September 2004, Welichem entered into a Technology Transfer Agreement with Celestial Pharmaceuticals, a company located in the Peoples Republic of China. Pursuant to the Agreement, Welichem transferred and assigned its rights to certain of its proprietary technologies to CPL on a royalty-free basis to use, develop, improve and upgrade the Transferred Technologies, and to distribute, market and sell products derived or manufactured from the Transferred Technologies in the PRC, Hong Kong, Macau and Taiwan. CPL, at that time, subscribed 4,545,455 common shares of Welichem for $1,500,000.
In March 2013, Welichem Biotech announced that it has entered into an asset purchase agreement (APA) to purchase the exclusive development and commercialization rights to the novel anti-inflammatory agent, WBI-1001, in China, Taiwan, Macao and Hong Kong from Celestial Pharmaceuticals and Wenfeng Tianji Pharmaceuticals. Upon entering into the APA, Welichem paid...See full deal structure in Biomedtracker
Partners: Welichem Biotech Inc. Celestial Pharmaceuticals Ltd.
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