Biocon's unit partners with Adagio Therapeutics for antibody treatment of Covid-19

Biocon said that its subsidiary Biocon Biologics has partnered with Adagio Therapeutics to advance antibody for the prevention and treatment of COVID-19.

Biocon Biologics announced on Monday that U.S. based Adagio Therapeutics has granted an exclusive license to Biocon Biologics to manufacture and commercialize an antibody treatment based on ADG20 for India and select emerging markets. Biocon Biologics is a subsidiary of Biocon and is a fully integrated global biosimilars organization.

ADG20, a novel monoclonal antibody targeting the spike protein of SARS-CoV-2 and related coronaviruses, is in global clinical development by Adagio as a single agent for both the treatment and prevention of COVID-19, the disease caused by the SARS-CoV-2 virus, its variants, as well as future variants that may emerge.

Initial data indicate that ADG20, Adagio's lead clinical development candidate, could provide both rapid and durable protection against COVID-19 for up to one year. With its potential to address resistant variants, including the Delta variant, and its ability to be administered easily as a single, intramuscular injection in the outpatient setting, ADG20 is uniquely poised to address the current need for an effective, safe and convenient therapy for COVID-19.

Adagio plans to seek Emergency Use Authorization in the U.S. as early as the first quarter of 2022. Under the terms of the deal, Biocon Biologics will get access to the clinical and nonclinical data from Adagio's EUA submission to the U.S. Food and Drug Administration to seek approvals in the emerging markets.

Biocon Biologics has a comprehensive COVID-19 portfolio that addresses the needs of patients at different stages of the disease spectrum -- mild, moderate, severe and critical.

Kiran Mazumdar-Shaw, Executive Chairperson Biocon Biologics, said: This partnership with Adagio aligns our joint vision of bringing superior biologic therapies to millions of patients in low and middle income countries. Vaccines alone will not protect and make the world safer. Biologic therapies that arrest the virus in its path of devastation are a necessity for sustainable protection and safety.

The announcement was made after market hours yesterday, 26 July 2021. Shares of Biocon lost 2.19% to settle at Rs 389.45 yesterday.

Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune.

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