Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Thursday, June 13 2019 - 09:15
Tessa Therapeutics and China-Singapore Guangzhou Knowledge City Form Landmark US$120 Million Joint Venture in China to Develop Innovative Cell Therapies for Cancer
SINGAPORE, June 13, 2019 /PRNewswire-AsiaNet/ --

- The partnership will leverage Tessa Therapeutics' global operational 
capabilities and cell therapy platform technologies to target prevalent cancers 
in China 

- The joint venture will be the sole licensee of Tessa Therapeutics' cell 
therapies for research, development and commercialization in China 

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, clinical development and 
commercialization in China. 

Tessa and CSGKC will invest a combined total of US$120 million in the joint 
venture – CSGKC will contribute US$80 million and Tessa will provide US$40 
million – in two stages. In the first stage, CSGKC will contribute US$40 
million for 13 percent stake in the joint venture, while Tessa will contribute 
US$20 million and its technology license rights for China. Tessa will hold the 
remaining 87 percent stake in the joint venture. 

"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," said 
Mr. Andrew Khoo, Tessa Therapeutics CEO and Co-Founder. "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 

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 

About 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.

Envisioned as a model and catalyst for Guangdong's economic transformation, the 
123 sq km CSGKC is positioned as a unique, vibrant and sustainable city highly 
attractive to both talents and knowledge-based industries. Since its inception 
in 2010, CSGKC has achieved significant progress. Following the completion of 
basic infrastructure works in the 6.27 sqkm Start-Up Area (SUA) and the opening 
of two new subway lines by end of 2018, accessibility and connectivity in the 
area have improved significantly. Furthermore, CSGKC has also seen the 
completion of phase 1 OneHub GKC, an integrated business park development 
comprising business and commercial space, high-end residential and lifestyle 
amenities. Plans for the next phase of development has kickstarted with joint 
exploration for the development of the 2 sqkm Sino-Singapore International 
Technology Innovation Cooperation Demonstration Area (Demonstration Area) 
within CSGKC.

The importance of CSGKC continues to grow with the signing of a Framework 
Agreement between Chinese and Singapore government on 12th November 2018 to 
elevate the project to a State-Level Bilateral Cooperation Project, making it 
the first private sector-led project to receive state level elevation.

Building upon its new status as well as leveraging on the growth of the Greater 
Bay Area, CSGKC is well positioned to become a dynamic, high value urban centre 
with opportunities for local and international enterprises.

For more information on CSGKC, please visit 

About Tessa Therapeutics

Tessa Therapeutics is a clinical-stage cell therapy company focused on the 
development of autologous and off-the-shelf, allogeneic therapies targeting a 
wide range of cancers. Tessa's Virus-Specific T cell (VST) platform harnesses 
the body's potent anti-viral immune response and has shown early efficacy and a 
strong safety profile in the treatment of solid tumors.

Tessa is building a portfolio of innovative, next-generation therapies by 
combining VSTs with other immuno-oncology approaches. This portfolio includes a 
rapidly growing pipeline of clinical and pre-clinical autologous programs that 
target a wide range of cancers, including nasopharyngeal carcinoma, cervical 
cancer, oropharyngeal cancer, lung cancer, breast cancer, bladder cancer, as 
well as head and neck cancer. In addition, Tessa is leveraging its platform to 
develop allogeneic therapies to address Epstein-Barr virus-associated lymphomas 
and solid tumors.

Tessa has built up robust operational and supply chain capabilities to 
successfully deliver T cell therapy treatments to a large patient pool 
worldwide. Together with the Company's academic, clinical, and commercial 
research partners, Tessa has created a fully-integrated approach to the 
treatment of cancer with immunotherapy. 

For more information on Tessa, please visit

Tessa Therapeutics Media Contacts

Gladys Wong 
+65 6384 0755

Brunswick Group
Will Carnwath, Ben Fry 
+65 6426 8188

Source: Tessa Therapeutics