Ranbaxy Laboratories announced today that it will develop a protein on Pfenex's platform.
Under the terms of the agreement Pfenex is eligible to receive maintenance fees, milestone payments as well as royalty payments on any product sales derived from the agreement.
Ranbaxy and Pfenex scientists will collaborate on developing the production strains and the process that will be used to produce product in support of clinical development and commercial production of the biosimilar product.
“Within our overall bio-therapeutic plan, the Pfenex technology will enable Ranbaxy to develop a high quality, cost effective product”, said Atul Sobti, CEO and managing director of Ranbaxy.
“We are pleased to be partnering with Ranbaxy”, said Bertrand C Liang, CEO of Pfenex, “This collaboration is a great combination of the strength of Pfenex Expression Technology being leveraged for the cost effective production of biosimilars, and Ranbaxy’s proven ability to develop and launch products globally.”
