The subsidiary of Strides Arcolab Ltd, Agila Biotech Pvt Ltd and Pfenex Inc have jointly announced entering into a joint venture to develop, manufacture and commercialize an initial product line of six biosimilar products for the market.
As a joint venture project, the two would equally share in the decision making on product development and commercialization with Agila Biotech holding a 51% equity shareholdings. This venture combines both Pfenex's leading expertise in strain engineering and process development working with the biologics manufacturing and clinical development excellence of Agila Biotech.
The lead product of the joint venture would be the Interferon beta-1b, a medication similar to Betaseron. This drug is effective in relapsing-remitting and secondary progressive forms of multiple sclerosis until human trials can be conducted by the fourth quarter of 2013.
According to Pfenex CEO Dr. Bertrand Liang, "One of the global challenges for the future of healthcare is to develop and produce products within the confines of a constrained cost environment. Biosimilars are and will play an increasingly important role in patient disease management. This venture between Pfenex and Agila Biotech will allow us to leverage our infrastructure for the development of safe, reliable and cost-effective therapies for patients to address unmet medical needs all over the world."
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