India’s leading biotherapeutics firm Biocon is planning to buy out joint venture partner, Cuban firm CIMAB, the company announced.
Biocon, which currently holds 51% in Biocon Biopharma, has entered into an agreement to buy the remaining 49 percent stake in its biopharmaceuticals unit from joint venture partner CIMAB.
No financial details of the deal has been disclosed by Biocon.
Post acquisition, Biocon will make Biocon Biopharma its wholly owned subsidiary.
Biocon would continue its partnership with CIMAB for research, development and commercialisation of a range of biopharmaceutical products, the company stated.
Biocon entered into a joint venture with the Cuban Institute CIMAB to develop and market a range of MAbs and Cancer Vaccines in 2003.
CIMAB is the commercial branch of the Center of Molecular Immunology (CIM), a Cuban biotechnology institution dedicated to research, product development and manufacture of mammalian cell culture products.
CIMAB’s expertise in monoclonal antibodies has been instrumental in supporting the launch of BioMab EGFR in 2006 by Biocon, a novel monoclonal antibody against SCCHN (head and neck cancer) and other cancers of epithelial origin.
Biocon has claimed BioMab EGFR (nimotuzumab) as the world’s first humanized anti-EGFR monoclonal antibody.
Monoclonal Antibodies (MAbs) work on cancer cells in the same way natural antibodies work, by identifying and binding to target cells. They then alert other cells in the immune system to the presence of the cancer cells. MAbs are specific for a particular antigen – for example, a MAb designed for a B-cell lymphoma will not work on breast cancer cells.
BioMab EGFR (nimotuzumab) is used for the treatment of head/neck cancer. The product is being manufactured at Biocon’s fully integrated state-of-the-art biologics facility in Bangalore. Further, clinical trials are on to assess the therapeutic potential of this product in glioma (brain-tumours) and NSCLC (lung cancer). In addition, Biocon is developing monoclonal antibodies for hematological malignancies, inflammation and autoimmune disorders.
In 2006, Biocon had acquired all the assets of its one-time partner US-based Nobex Corporation for $5 million and certain back-end royalties. Nobex had a proprietary drug delivery system to enable oral delivery of peptide drugs.
Biocon and Nobex had earlier entered into an alliance for the global co-development and commercialisation of oral insulin and oral BNP. Nobex’s core competence is its proprietary medicinal chemistry, which constitutes a powerful and well-protected IP estate.
Nobex acquisition provided Biocon with technology and intellectual property platformsfor its on-going oral insulin and oral B-type natriuretic peptide programmes.
Nobex also provided us access to additional innovative technologies and an IP estate of nearly 300 patents and patent applications focused on oral peptide therapeutics in the metabolic and cardiovascular segment.
The assets acquired by Biocon include IN-105, an oral insulin for type 2 diabetes, BN-054, an oral B-type natriuretic peptide for cardiovascular disease, Oratonin, an oral calcitonin in phase 1 trials for osteoporosis, Oral PTH (Para Thyroid Hormone) and APAZA, an oral small molecule drug in phase 1/2 trials for inflammatory bowel disease.
Nobex, after running out of money filed for bankruptcy. Following this, the Delaware Bankruptcy Court conducted an auction on March 16 and approved Biocon’s bid.
Established in 1978, Biocon Limited is India’s largest biotechnology company by revenue. Promoted by Ms Kiran Mazumdar-Shaw, Biocon has a strategic focus on biopharmaceuticals and research services.
Biocon’s value chain spans discovery, development and commercialization of novel therapeutics. Biocon with initiatives in clinical development, bio-processing and global marketing, 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 and India’s first indigenously produced monoclonal antibody BIOMAb-EGFR.
Proprietary technologies and superior knowledge-driven concepts propel our reputation as a ‘full-service research hub’. Leveraging India’s powerful value advantage while continuing to deliver high levels of innovation, we remain compelling collaborators for advanced, cost-effective custom research services.
Endo pharmaceuticals is a specialty pharmaceutical company engaged in the research, development, sale and marketing of branded and generic priscription pharmaceuticals used to treat and manage pain ,bladder cancer, prostate cancer and the early onset of puberty in children, or central precocioius puberty (CPP).