09 Jan 2014, BioSpectrum Bureau , BioSpectrum
Singapore: Switzerland based EPIRUS, a wholly-owned subsidiary of Boston-based EPIRUS Biopharmaceuticals, and Ranbaxy Laboratories, a division of Daiichi Sankyo Company, Tokyo, have signed a licensing agreement for BOW015, a biosimilar infliximab, for the broad range of territories including India, selected South East Asian markets, North Africa and several other markets.
Under the terms of the agreement EPIRUS and Ranbaxy will initially pursue the commercialization of BOW015, the EPIRUS biosimilar molecule to REMICADE, in India. EPIRUS recently announced successful Phase 3 data for BOW015 and, in November, filed for market approval.
Subsequent to launch in India, Ranbaxy will pursue registration and commercialization of BOW015 in other territories in South East Asia, North Africa and selected other markets.
In exchange for the rights to BOW015 in the territories, EPIRUS will receive upfront, milestone, and royalty payments over the term of the agreement.
"We are very pleased to work with Ranbaxy to register and commercialize this important medicine. Ranbaxy has the right focus and infrastructure in these markets to effectively bring this medicine to these markets", said Mr. Amit Munshi, President and CEO of EPIRUS.
Mr. Arun Sawhney, CEO and Managing Director, Ranbaxy said, "We are excited to partner with EPIRUS for the supply of this important high-quality biosimilar medicine. We will utilise our strong front-end capabilities in making this product available in India and other parts of world."