HJB and Hong Kong’s MabSpace Biosciences (MabSpace) are merging to create Transcenta Holding (Transcenta), a biotherapeutics company with fully-integrated capabilities in research, development, regulatory and manufacturing of biologics.
Xueming Qian, former founder, Chairman and CEO of MabSpace, will serve as CEO while Jonathan Yining Zhao, Co-founder and CEO of HJB, will be the Executive Chairman of the combined company, respectively.
By leveraging and combining the complimentary capabilities of HJB and MabSpace, Transcenta will be equipped with a senior team with extensive global industrial experience in biologics-based therapeutics discovery and development, and fully integrated in-house capabilities in biologic therapeutics discovery, development and manufacturing.
Transcenta will have a global footprint: Discovery and Translational Research Centre in Suzhou, Process and Product Development Centre and Manufacturing Facility in Hangzhou, and Clinical Development Centres in Shanghai, Beijing and Boston, US.
The combined entity will have over 10 innovative pipeline molecules. Transcenta aims to shorten the timeline from target to BLA, and will make the high-quality, next-generation GMP facility available to support the development and commercialization of both in-house and strategic partner’s pipeline molecules.
“The newly merged entity will combine the strength of MabSpace and HJB in discovery, development and manufacturing,” said Jonathan Y. Zhao.
“MabSpace and HJB have a combined pipeline with more than 10 pre-clinical and clinical pipeline products. Leveraging the HJB’s strength in process and clinical development and integrated biomanufacturing, Transcenta will continue to create greater values by providing high-quality biologics at affordable prices to patients around the world.”
Xueming Qian, Transcenta’s Co-Founder and CEO, added: “I would like to thank our investors from both sides for their full-hearted support of this strategic combination. With the merger of HJB and MabSpace, we can achieve a critical mass, significantly accelerate the development and commercialisation of our innovative pipeline and establish Transcenta as a truly fully integrated biotherapeutics-focused global biotech company.
“This not only enables shorter development timelines, but also provides high-quality biotherapeutics at a much lower cost to ensure affordability and sustained profitability. We hope to build Transcenta as an enduring biotech company that delivers high quality, innovative medicines to our patients and value to our shareholders around the world.”
HJB and MabSpace have altogether raised approximately $160 million thus far from prominent investors.