Abraxis BioScience to license biosynthetic cancer drug from Biocon
By Our Corporate Bureau | 19 Jul 2007
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Integrated global biopharmaceutical company, Abraxis BioScience Inc, has signed an agreement to acquire licensing rights from Biocon to develop its bio similar version of G-CSF (granulocyte-colony stimulating factor) in North America and the European Union, for an undisclosed amount.
Under the terms of the agreement, Biocon will receive an upfront licensing fee and, following approval in the licensed territories, royalties from Abraxis BioScience.
G-CSF is a haematopoietic growth factor that works by encouraging the bone marrow to produce more white blood cells. Therapeutic G-CSF is primarily used for the treatment of neutropenia, the lowering of the white blood cells that fight infections.
Biocon has received regulatory approval from the Indian DCGI for the treatment of neutropenia in cancer patients and intends to launch the product in India through its Oncotherapeutics division.
"Abraxis Bioscience is an ideal partner for Biocon as we increase our focus on oncology. We are confident that both partners will realise success in attaining market leadership for G-CSF in their respective markets", said Kiran Mazumdar-Shaw, chairman and managing director of the company. "The present licensing arrangements will certainly pave the way to other opportunities in the foreseeable future."
The biological activity of the Company's G-CSF used in clinical trials was evaluated by NIBSC (National Institute of Biological Standards and Control), UK, which provides independent testing of biological medicines. The NIBSC found that the potency of the Company's drug met the necessary requirements of a biosimilar G-CSF.
Under the terms of the agreement, Biocon will receive an upfront licensing fee and, following approval in the licensed territories, royalties from Abraxis BioScience.
G-CSF is a haematopoietic growth factor that works by encouraging the bone marrow to produce more white blood cells. Therapeutic G-CSF is primarily used for the treatment of neutropenia, the lowering of the white blood cells that fight infections.
Biocon has received regulatory approval from the Indian DCGI for the treatment of neutropenia in cancer patients and intends to launch the product in India through its Oncotherapeutics division.
"Abraxis Bioscience is an ideal partner for Biocon as we increase our focus on oncology. We are confident that both partners will realise success in attaining market leadership for G-CSF in their respective markets", said Kiran Mazumdar-Shaw, chairman and managing director of the company. "The present licensing arrangements will certainly pave the way to other opportunities in the foreseeable future."
The biological activity of the Company's G-CSF used in clinical trials was evaluated by NIBSC (National Institute of Biological Standards and Control), UK, which provides independent testing of biological medicines. The NIBSC found that the potency of the Company's drug met the necessary requirements of a biosimilar G-CSF.
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