On February 3, iCCAMT is pleased to announce that following the signing of a Memorandum of Understanding ("MOU") with Cizzle Biotechnology ("Cizzle") and Shenzhen Intelliphecy Life Technologies Co., Ltd. ("Intelliphecy"), announced on 25 November 2021, a full commercial agreement has now been executed to develop and market the Company's proprietary early lung cancer diagnostic tests in China (the "Agreement").
Around 816,000 new lung cancer cases were diagnosed in China in 2020, accounting for almost 18 percent of all the 4.6 million new cancer cases in China. In that year, approximately three million deaths in China were caused by cancer*. It is also known that there are serious challenges in being able to detect cancer early and a great need for screening and diagnosing cancers among the Chinese population when targeted interventions can improve timely access to cancer care and save lives**.
The Agreement will generate future revenues for Cizzle Biotechnology via a 10% royalty on the sales of all products and services using its proprietary CIZ1B technology and from payment for monoclonal antibodies and reagents.
The China partners will be solely responsible for funding all activities in China including development, clinical trials, manufacturing, and distribution. It is intended that initial development will commence within 60 days of Cizzle Biotechnology supplying its immunoreagents to the China partners, which is anticipated to be in Q2 2022.
An initial pilot covering 300 patients is planned at China's premier cancer hospitals, which will allow for a true representative patient cohort to be included and, if successful, is expected to accelerate adoption and product rollout in China.
The China partners
iCCAMT, founded with German Medical Valley, Robert Bosch GmbH and Sinopharm Group, aims to accelerate global med-tech innovation in the Chinese market, by bringing together world leading expertise. The strategic alliance is intended to accelerate product development and clinical trials to achieve early adoption within major cancer centers throughout China.
Intelliphecy is aiming to innovate technologies in the hope to win the war against cancer, aspiring to out-smart cancer cells with an intelligent prophecy. At the core of Intelliphecy's technology portfolio lies artificial intelligence driven big data analytics, which is devoted to predictive modeling of cancer, a methodology which has proved timely given the global pandemic's digital health and data adoption trends.
Commenting, Allan Syms, Executive Chairman of Cizzle Biotechnology, said:
"As reported in November 2021, when we signed our MOU with iCCAMT and Intelliphecy, lung cancer in China is a huge social and economic challenge, especially because of the difficulties in being able to detect it early enough to make clinical intervention effective. We are now pleased to report that as planned we have completed detailed commercial negotiations and have entered into a full binding agreement that will enable us to bring our early cancer testing technology to this important market. Our Chinese partners will be financing all activities in China in exchange for providing us with important and repeatable royalty revenues and covering the costs for all key reagents and our proprietary monoclonal antibodies. We are excited to be working with our new partners in China and look forward to beginning our initial pilot trials with China's leading scientists and centers of excellence."
Commenting, Dr Hui Wu, CEO and Founder of iCCAMT said:
"This agreement represents a significant opportunity to bring early and cost-effective cancer detection to the people of China. It is estimated that about 95.8 million people in China have a high risk of lung cancer and if screening was performed every three years, then more than 30 million tests per year would be required. At a target price of about £100 per test, the total available market for tests based on the CIZ1B biomarker would be £3 billion. (Frost & Sullivan estimates the market size in China is US$5.7 billion). We have already secured strong interest from our nationwide network of national clinical centers and key opinion leaders because of the promising results using the CIZ1B biomarker for lung cancer early detection in the UK and one our first tasks is to commence pilot studies at the Cancer Hospital, Chinese Academy of Medical Sciences, National Cancer Centre, and Beijing Cancer Hospital, affiliated with Peking University."
Commenting, Dr Xiaoyun Huang, CEO and Founder of Intelliphecy said:
"Lung cancer is the one with the highest incidence in China. The fact that many lung cancer patients are diagnosed with advanced disease hampers therapeutic efficiency and patient survival. There is an urgent need for early lung cancer detection in China. We are extremely happy to have finalized the details of a formal agreement on a Royalty Strategic Alliance for Early Lung Cancer Detection in China with Cizzle and iCCAMT. This marks the first milestone of our strategic alliance since the signing of MOU. We are looking forward to initiating the development of CIZ1B based early lung cancer detection products and services as soon as possible."
About International Co-Innovation Centre for Advanced Medical Technology ("iCCAMT")
iCCAMT, founded with German Medical Valley, Robert Bosch GmbH, Sinopharm Group, aims to accelerate global healthcare innovation in China. iCCAMT is dedicated to support innovative healthcare SMEs (small and medium sized companies) to grow in China and promote technology transfer. With global health technology network and supports from industry giants, iCCAMT has developed comprehensive platforms to strengthen cross-border health technology collaborations, and help global health technology companies enter the China market. For more information, please see http://www.iccamt.com
About Cizzle Biotechnology
Cizzle Biotechnology is developing a blood test for the early detection of lung cancer. Cizzle Biotechnology is a spin- out from the University of York, founded in 2006 around the work of Professor Coverley and colleagues. Its proof-of-concept prototype test is based on the ability to detect a stable plasma biomarker, a variant of CIZ1 known as CIZ1B. CIZ1 is a naturally occurring cell nuclear protein involved in DNA replication, and the targeted CIZ1B variant is highly correlated with early stage lung cancer. For more information, please see https://cizzlebiotechnology.com
About Shenzhen Intelliphecy Life Technologies Co., Ltd. ("Intelliphecy")
Intelliphecy is aiming to innovate technologies in the hope to win the war against cancer, aspiring to out-smart cancer cells with an intelligent prophecy. At the core of Intelliphecy's technology portfolio lies artificial intelligence driven big data analytics, which is devoted to predictive modeling of cancer hallmarks using quantitative information. Its research and development is grounded in both identification of cancer at early stage and prediction of optimal treatment strategies for individual cancer patients. Intelliphecy has established research collaborations with major cancer centres throughout China. For more information, please see http://www.intelliphecy.com