Aslan Pharmaceuticals, Bukwang Pharmaceutical establish JV
Aslan Pharmaceuticals and Bukwang Pharmaceutical announced that they have established a new joint venture to develop preclinical aryl hydrocarbon receptor, or AhR, antagonists from ASLAN's early stage pipeline. The independent company, JAGUAHR Therapeutics, will focus on developing new immuno-oncology therapeutics for global markets targeting the AhR pathway and will be based in Singapore. Under the terms of the agreement, ASLAN will transfer the global rights to all of the assets related to AhR technology, originally discovered and developed by ASLAN and its collaborator Dr Mark Graham, into JAGUAHR. Bukwang will invest $5M in JAGUAHR in two tranches to fund the development of the assets, identify a lead development compound and file an Investigational New Drug application.