Tessa Therapeutics (Tessa), a clinical-stage cell therapy company focused on the development of autologous and allogeneic therapies to treat cancer, announced today that it will establish a joint venture with China-Singapore Guangzhou Knowledge City (CSGKC). The joint venture will be the sole licensee of Tessa’s cell therapies for research, development and commercialization in China. The total investment equals $120 million.
Strategic Nature of Chinese Market for Clinical Research
Mr. Andrew Khoo, Tessa Therapeutics CEO and Co-Founder reports “China is an important market in our goal to develop innovative cell therapies and make them widely accessible for cancer patients all over the world.” He continued, “The joint venture is an important milestone in Tessa’s China strategy and will draw from Tessa’s international clinical execution capability and cell therapy platform technologies. I firmly believe that having China as a core part of Tessa’s global clinical development strategy will accelerate our cell therapies to market.”
Clinical Trials in China: Strategic Priority of Adding Chinese Sites into Tessa’s Global Clinical Trial Network
The joint venture’s immediate strategic priorities will focus on conducting clinical trials in China for Tessa’s cell therapies, which target prevalent cancers in the country for patients with hematological malignancies and solid tumors. This will be done by building up robust operational capabilities and adding leading clinical trial sites in China into Tessa’s global clinical trial network.
Based in Singapore, Tessa Therapeutics is a fully-integrated, international biotech company with the aim of revolutionizing the treatment of cancer. The company’s scientific vision is to redirect the body’s potent anti-viral immune response to recognize and kill cancer cells.
China-Singapore Guangzhou Knowledge City
China-Singapore Guangzhou Knowledge City (CSGKC) formerly known as the Sino-Singapore Guangzhou Knowledge City (SSGKC) is a greenfield master development by Sino-Singapore Guangzhou Knowledge City Investment and Development Co. Ltd, a joint venture company established by Ascendas-Singbridge and Guangzhou Development District (GDD). Situated approximately 35 km northeast of Guangzhou city centre and 25 km from Guangzhou Baiyun International Airport, it is strategically located in the core area of the Greater Bay Area, a key integrated economic hub which is slated to become the world largest bay economy.Source: PR Newswire