Bangalore, April 05, 2010
Biocon today announced that its subsidiary company Biocon SA., has entered into a definitive agreement to acquire the 49% equity stake held by CIMAB SA in Biocon Biopharmaceuticals Private Limited (BBPL). BBPL will now become a wholly owned subsidiary of Biocon Limited. This move allows the two partners Biocon and CIMAB to focus on the joint development of novel biologics led by its most promising program T1h (Anti-CD6 monoclonal antibody) which has just entered Phase III Clinical trials in Psoriasis.
BBPL, a joint venture between Biocon and CIMAB was established to provide manufacturing support for a range of biopharmaceuticals to be jointly developed by the two partners. This partnership has already resulted in the successful launch of India's first novel monoclonal antibody BIOMAb-EGFR(TM) for the treatment of head & neck cancer. Biocon has also established "ERYPROTM" (Erythropoietin) as a major brand in India.
BBPL will continue to provide manufacturing support for all partnered programs between CIMAB and Biocon. The two partners will jointly work towards the development of T1h (Anti CD6 monoclonal antibody) for global markets, and the promotion of "BIOMAb-EGFR"(TM) and ERYPROTM in India and other agreed territories.
Speaking on the development, Kiran Mazumdar-Shaw, CMD, Biocon Group said, "This move opens a new chapter in our very valuable partnership with CIMAB. We see T1h(Anti CD6 monoclonal antibody) as a unique global opportunity that has the potential of being a 'best in class' therapy for a range of auto-immune diseases like Psoriasis, Rheumatoid Arthritis, Multiple Sclerosis and Diabetes."
Dr Agustin Lage, who heads the Center of Molecular Immunology (CIM) commented "This restructuring of our co-operation with Biocon will enable us to focus on Research, Development and commercialization of our novel biopharmaceutical drugs for global markets which we consider to be the most important part of our collaboration."
About Biocon Limited
Established in 1978, Biocon Limited (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's largest biotechnology company by revenue. The Group, promoted by Ms Kiran Mazumdar-Shaw, is a fully-integrated, innovation-driven healthcare enterprise with strategic focus on biopharmaceuticals and research services. Biocon's value chain traverses the entire length of discovery, development and commercialization of novel therapeutics. With successful initiatives in clinical development, bio-processing and global marketing, Biocon delivers products and solutions to partners and customers in approximately 75 countries across the globe. Many of these products have USFDA and EMEA acceptance. Biocon's robust product offering includes the world's first recombinant human insulin, INSUGEN(R) and India's first indigenously produced monoclonal antibody BIOMAb-EGFR(TM). For more information, Visit us at www.biocon.com
CIMAB S.A. is the commercial branch of the Center of Molecular Immunology (CIM). CIM is one of the centers of the Scientific Pole in Cuba devoted to research, development and manufacturing human biotech products, and CIMAB the marketing company. CIM research programs are focused in the areas of cancer therapeutics, autoimmune diseases and renal transplant. CIM utilizes its platform technology and development capabilities to facilitate the rapid and cost-effective discovery and development of novel anti-cancer drugs.
Web page: www.cim.sld.cu