WASHINGTON and CRANBURY, New Jersey, Feb. 25, 2013 /PRNewswire/ -- Viropro, Inc.
(OTC: VPRO) and Oncobiologics, Inc. announced today the signing of
a biosimilar collaboration agreement. Under the agreement,
Viropro will have the rights to manufacture six monoclonal antibody
products being developed by Oncobiologics for commercialization in
more than 70 emerging market countries (excluding China). Viropro will have exclusive
commercialization rights to the six biosimilars for Malaysia. In addition, the companies will
co-manage Viropro's Penang,
Malaysia Alpha Biologics biomanufacturing subsidiary.
The alliance will seek regional partners to drive
commercialization.
The six biosimilars are generic versions of Humira®, Rituxan®,
Avastin®, Herceptin®, Erbitux® and one other non-disclosed
biotherapeutic. These biologics are the most popular
therapies in the world for their respective cancer and
immune-disease indications, representing annual global revenue of
more than $40 billion with more than
$6 billion in the emerging countries
covered by the agreement. The companies project that Viropro
commercial and manufacturing royalties have the potential to grow
to an annual revenue run rate of $60–$150 million for Viropro
within 10 years. The partnership is planning to launch its first
product by late 2014.
"The Oncobiologics biosimilars program is a perfect complement
to Viropro's biomanufacturing expertise. Their scientific
team is comprised of recognized industry veterans and we are
impressed by the high quality of the science they are achieving,"
said Viropro President & CEO Cynthia
Ekberg Tsai. "This partnership brings together
high-quality molecules developed to FDA and EU regulatory standards
integrated with world class biomanufacturing, the net result being
high quality products with low cost of goods. Together we are
well positioned to provide emerging countries access to affordable,
high-quality biopharmaceutical products for critical
indications."
Oncobiologics Founder and CEO, Pankaj
Mohan, Ph.D., added, "We are thrilled to have Viropro as an
anchor partner. Together we form a fully integrated
biopharmaceutical alliance to serve the emerging markets. The
combination of a state-of-the-art biologics manufacturing facility
and support from the Malaysian Government makes Viropro an ideal
partner. This unique partnership allows us to bring together
technical expertise and quality oversight from the U.S. with a high
capability, low cost biologics operation in Malaysia."
Dato' Dr. Mohd Nazlee Kamal, CEO
of Malaysian BiotechCorp, commented, "Malaysia's strategy to become a biotech hub
for Asia is rapidly gaining
traction, and this Viropro/ Oncobiologics partnership is a
significant step in moving this effort forward. BiotechCorp is
proud to be part of this collaboration and we look forward to many
great developments. This project will attract interest in the
biosimilars manufacturing field and will certainly build the
confidence of global biotech companies in Malaysian companies as we
strive to develop the biomedical sector in the country."
Malaysian BiotechCorp is an agency under the Ministry of Science,
Technology and Innovation (MOSTI) responsible for executing the
objectives of the National Biotechnology Policy (NBP).
Proximare, a strategic advisory firm focused on the life
sciences and healthcare industries, acted as advisor for the
deal. Financial terms were not disclosed.
About Oncobiologics, Inc.
Oncobiologics is a privately-held biopharmaceutical company
developing a pipeline of biosimilars and next generation
biotherapeutics focused on clinically validated targets in the
therapeutic areas of oncology, immuno-oncology, and immunology.
Formed by a team of leading industry experts from firms such as Eli
Lilly, Bristol-Myers Squibb, Amgen, Genentech, Merck and Pfizer,
Oncobiologics operates from a state-of-the-art 30,000 sq.ft.
R&D facility in Cranbury, NJ.
For more information, please visit www.oncobiologics.com
About Viropro Inc.
Viropro specializes in the development and manufacturing of
biopharmaceutical drugs. Alpha Biologics is the manufacturing
arm of Viropro, located on the Penang Science Park located in North
Malaysia. Alpha operates a 50,000 sq. ft. state of the art
facility designed by Boccard (France). The Alpha facility has undergone a
regulatory agency design review and uses a combination of stainless
steel and single-use equipment to maximize operational performance
for our manufacturing partners. For more detailed information about
the company, visit www.viropro.net
Viropro Inc. Safe Harbor Statement
Except for any historic information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, which are subject
to section 27A of the Securities Act of 1933 and section 21E of the
Exchange Act of 1934, and are subject to safe harbor created by
these sections. Any statements that express or involve discussions
with respect to predictions, beliefs, plans, projections,
objectives, goals, assumptions of future events or performances are
not statements of historical fact and may be "forward-looking
statements". Forward-looking statements in this release may be
identified through the use of such words as "expects",
"anticipates", "estimates", "believes", or statements indicating
certain actions "may", "could", or "might" occur. Actual results,
performance or achievements could differ materially from those
anticipated in such forward-looking statements, which involve
numerous risks and uncertainties, including the Company's ability
to market its products and services in a competitive environment as
well as other factors.