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Bioasis Technologies, WuXi Biologics sign deal for brain cancer drug

Canada's Bioasis Technologies Inc. entered into an initial strategic collaboration with China-based WuXi Biologics (Cayman) Inc. to manufacture its lead investigational drug candidate.

The agreement covers development and manufacturing of xB3-001, which is meant to treat brain cancer and was developed through Bioasis Technologies' proprietary platform.

Financial terms of the partnership were not disclosed.

The company said that through the collaboration, it will have access to Hong Kong-listed WuXi Biologics' technologies.

"This collaboration allows us to leverage our expertise across biological drug development and anticipate Bioasis' needs as they move from pre-clinical to clinical and beyond," said Wuxi Biologics CEO Chris Chen.