Humanigen creates Australian entity to help drive Asia-Pacific growth

Humanigen Inc (NASDAQ:HGEN) late Monday announced that it has established the Humanigen Australia Proprietary Limited for the purpose of developing potential partnering opportunities, facilitate clinical development programs, as well as other corporate and business development activities to increase its market access in the Asia-Pacific region. Humanigen noted that the corporate structure allows for attractive financial incentives supported by the Australian government.The first of these Asia-Pacific business development activities was announced on November 3, with the execution of a licensing agreement for lenzilumab for South Korea and the Philippines. Humanigen Asia-Pacific Head Bob Atwill said in a statement: “Humanigen’s expansion strategy in COVID-19 includes conducting regional clinical trials, local manufacturing, partnering and potential early market entry. Some of these opportunities may allow Humanigen Australia Pty Ltd to benefit from certain financial and tax incentives offered by the Australian government, including a potential 43.5% rebate on eligible research and development expenditures. This is a critical moment for important advancements in biotechnology and healthcare, and I look forward to progressing lenzilumab and the rest of the Company’s pipeline in the Asia-Pacific region as we grow Humanigen Australia Pty Ltd.” READ: Humanigen showing positive results for lenzilumab drug to treat patients hospitalized with COVID-19 Clinical trials that are ongoing, or in advanced planning, in Australia include: Lenzilumab study that will include over 1,000 cancer patients who are COVID-19 positive and have pneumonia as part of the C-SMART trial Lenzilumab Phase 2 study in refractory chronic myelomonocytic leukemia (CMML) as part of the PREcision Approach to CHronic Myelomonocytic Leukaemia (PREACH-M) trial, which is expected to begin in 2021 Ifabotuzumab in glioblastoma multiforme (GBM) Phase 1 trial, in which results are expected to be available in the first half of 2021 Humanigen reported positive interim Phase 3 data recently on lenzilumab to treat patients hospitalized with COVID-19, with an estimated 37% more recoveries observed in the lenzilumab arm of the randomized, placebo-controlled, double-blinded study versus current standard of care.    Contact Sean at sean@proactiveinvestors.com