Richter and DM Bio agreement on technology transfer and license-in of biosimilar trastuzumab

October 24, 2016 7:56 AM

richter-dmbio-biosimilarnews-logo

Gedeon Richter Plc. announced that it has signed a technology transfer and license-in agreement with DM Bio in respect of the development and commercialization of DM Bio’s biosimilar monoclonal antibody, trastuzumab.

According to the agreement, Richter receives exclusive distribution rights for Europe, the CIS region and Latin American countries and it also obtains the pilot technology for further development.

Under the terms of the agreement Richter shall make an upfront payment upon signature of the contract and further milestone payments shall be made depending on the progress of the technology transfer and clinical programme of the product. In addition, further sales related royalties will become payable to DM Bio subsequent to the launch of the product.

“The development of biosimilar products has been considered as an important strategic initiative for Richter in becoming a specialty pharma company, therefore we made significant efforts to establish our presence in the field of biotechnology. This agreement is considered to be a significant step towards finding strategic partners for the development and distribution of biosimilar products”, stated Erik Bogsch, Managing Director of Gedeon Richter Plc.

About DM Bio
DM Bio is a joint venture company formed by Dong-A Socio Holdings of Korea and Meiji Seika Pharma of Japan, and is in charge of constructing and operating production facilities for bio-pharmaceuticals that are jointly developed by the two companies. DM Bio was officially launched as a bio-pharmaceutical company in April 2015, and began production in May. It received manufacturing business approval from the Korean Ministry of Food and Drug Safety (MFDS) in September 2015.

 

Leave a Reply

Twitter ID
(ID only. No links or "@" symbols)


Latest News on Biosimilar News

Share an Article?

Writing an article is not only a great way to share your knowledge, but it is also a great way to give back to the community.

We value all our contributors and if you have a website, we will surely give a link back to your site and products.
Wanna contribute?

Suggestions?

Biosimilar News was started for the people who are interested in this rapidly growing business area. So if you have suggestions or feedback on how we can improve, please let us know. If you want to see a specific topic covered, answer to a specific question, or anything else of this sort, just write us. We do our best to keep up!
Make a suggestion now!