Itero and BEL will collaborate to obtain worldwide approvals and commercialise jointly-developed biopharmaceuticals. Itero will be responsible for financing the development of the drug candidates, while BEL will be responsible for financing the manufacture of the products. While Itero will retain commercial rights in the US, Europe and Japan, BEL will retain commercial rights in all other territories, according to an Itero press release here on Wednesday.
Itero chief executive officer, Bryan Lawlis, and BEL global biologics chief operating officer, Ray Prasad, stated that the collaboration would help in cost effective, development, production and commercialisation of value-added protein and antibody-body based therapeutics addressed to significant market opportunities.
