3SBio acquires pegsiticase global rights from EnzymeRx for $6.25 million

3SBio Inc. (Nasdaq: SSRX) ("3SBio" or "Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, announced that is has acquired worldwide rights of pegsiticase for all indications from EnzymeRx for a total consideration of US$6.25 million.

Pegsiticase (Uricase-PEG 20) is a pegylated recombinant uricase derived from Candida utilis, modified by the attachment of multiple 20 kilodalton molecules of polyethylene glycol (PEG), and is being developed for the treatment of refractory gout and tumor lysis syndrome. It has been shown to profoundly lower uric acid when administered as by intravenous infusion and intramuscular injection, and was safe and well-tolerated in a pair of recent phase I clinical studies sponsored by EnzymeRx. Pegsiticase has received Orphan Drug designation from the FDA for refractory gout, tumor lysis syndrome and Lesch-Nyhan Syndrome.

3SBio intends to develop pegsiticase in China and will seek partnerships for development outside of China.

Tony Fiorino, MD, PhD, President and Chief Executive Officer of EnzymeRx, noted, "3SBio is well-positioned to achieve a leadership role in the gout area with this acquisition. This drug has the potential to be a best-in-class agent with strong efficacy and what has been a very clean safety profile to date. I look forward to transitioning this program to 3SBio and helping move it forward in clinical development."

Jing Lou, MD, PhD, Director and Chief Executive Officer of 3SBio, commented "Gout is a common rheumatic disease in China with prevalence of gout and hyperuricemia estimated to be 0.22%–0.43% and 12.1%–25.2% respectively. The number of patients in China suffering from gout and hyperuricemia is expected to continue to grow rapidly due to changes in diet and lifestyle. We look forward to developing this innovative biological medicine and making it available to gout patients worldwide. This transaction once again demonstrates our business development capabilities to source external innovation globally to build our high quality R&D pipeline while prudently deploying our shareholder's capital."