Biocon Biologics enters into licensing agreement with Just - Evotec Biologics for early-stage biosimilar asset
Biotechnology major Biocon and German drug firm Evotec SE on Thursday said their subsidiaries have entered into a licensing agreement for a biosimilar asset.
The agreement has been signed between Biocon Biologics and Just - Evotec Biologics.
Through this in-licensing deal, Biocon Biologics has expanded its current therapeutic basket of biosimilars going beyond diabetes, oncology and immunology, the companies said a joint statement
Biocon Biologics will take this early-stage, pre-clinical biosimilar asset through end-to-end development, Investigational New Drug filing, manufacturing and commercialisation post-regulatory approval under its own label in global markets, it added.
Just Evotec Biologics has received a licence fee from Biocon Biologics and will be eligible to receive development, regulatory and commercial milestone payments, the statement said.
The companies however did not disclose any financial details of the licensing transaction.
"We are extremely confident of the quality of the biosimilar asset developed by Just Evotec Biologics and this collaboration will provide a headstart for Biocon Biologics to commercialise a biosimilar under its own brand," Biocon Biologics CEO Christiane Hamacher said.
This product expands the company's therapeutic basket and will enable it to address unmet patient needs for a high quality affordable therapy, she added.
"Just Evotec Biologics' optimised product and process platform has generated an excellent early-stage product candidate which we have licensed to Biocon Biologics for further development using their late-stage development, manufacturing and commercial capabilities to bring a compelling treatment to patients," Just - Evotec Biologics, EVP, Global Head Biotherapeutics & President US Operations James N Thomas said.
Biocon Biologics has a product pipeline of 28 molecules, including 11 with Mylan, several with Sandoz, and is developing many independently, the statement said.
Shares of Biocon closed at Rs 240.20 per scrip on BSE, up 2.85 per cent from the previous close.
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