SHANGHAI, Dec. 27, 2022 /PRNewswire/ -- Ablaze Pharmaceuticals ("Ablaze") announced the initiation of a development and manufacturing services agreement with Yonghe Pharmaceutical Technology Co., Ltd. ("Yonghe") to develop series of targeted radiopharmaceutical therapy ("TRT") products. Under the agreement. Yonghe as the CDMO partner will provide production process development and cGMP manufacturing services for Ablaze from pharmaceutical research and preclinical activities to clinical studies.

"This agreement with Yonghe represents a significant step for Ablaze in our efforts to optimize our preclinical and clinical development program for target radiopharmaceutical therapy" said Dr. Tiecheng Qiao, President and Chief Executive Officer of Ablaze. "Target radiopharmaceutical therapy is a proven approach to treating many cancers. We are excited about this opportunity to bring this novel class of TRT products to benefit patients in China."

"We are glad to support Ablaze and its targeted radiopharmaceutical therapy programs. TRT offers the potential to play an important role in the fight against cancer, we seek to provide a robust and efficient radiopharmaceutical manufacture, testing, and supply process for our partners from early-stage development through commercialization" said Mr. Bo Lin, Chairman of Yonghe.

About Ablaze Pharmaceuticals

Founded in 2021, Ablaze Pharmaceuticals is a clinical-stage pharmaceutical company with a mission to bring advanced targeted radiopharmaceutical therapies (TRT) to benefit cancer patients in China. Since its inception, Ablaze has secured a partnership with RayzeBio, Inc., an innovative radiopharmaceutical company based in San Diego CA, to gain exclusive development and commercial right to a series of RayzeBio's products in the greater China region. Leveraging its team's extensive business experience and network in cross-border product development and deal making, Ablaze strives to become the leader and the partner of choice in the emerging TRT market in China by working with strategic business partners in both China and abroad. For more information, please visit www.ablazepharma.com.

About Zhejiang Yonghe Pharmaceutical Technology

Zhejiang Yonghe Pharmaceutical Technology Co., Ltd. was established in 2014, mainly engaged in the production and sales of radioactive drugs. The company has radiopharmaceutical manufacturing plants in line with the national cGMP standard. Yonghe currently has several radiopharma assembly lines and developing and marketing about 14 different radionuclide-based pharmaceuticals. For more information, please visit www.yonghe-yaoye.com.