Fujifilm Kyowa Kirin Biologics Co. Ltd. has announced that it has entered into an agreement with
AstraZeneca to establish a joint venture for the development and commercialisation of FKB238 in development for the treatment of multiple solid tumours.
FKB 238 is a biosimilar version of bevacizumab, an anti-VEGF1 humanized monoclonal antibody with established efficacy across a range of cancers including colorectal and non-small cell lung cancer2.
Fujifilm Kyowa Kirin Biologics commenced its Phase I clinical trial for FKB238 in Europe in November 2014.
Under the terms of the agreement, the new joint venture that is equally co-funded by the two companies and will use FKB238's non-clinical, clinical development data compiled by Fujifilm Kyowa Kirin Biologics thus far.
Fujifilm Kyowa Kirin Biologics will transfer the rights to FKB238 to the new joint venture, and will receive a lump-sum payment of USD45 million in return.
"Together with Kyowa Hakko Kirin, Fujifilm has been developing high-quality, cost-competitive biosimilars, by adopting to Fujifilm Kyowa Kirin Biologics its technological expertise in precise production control and strict quality assurance, cultivated over the years in photographic film business," said Takatoshi Ishikawa, Director, Senior Vice President, General Manager Pharmaceutical Products Division of Fujifilm.
"We hope that FKB238 will help patients as soon as possible by the joint venture accelerating the drug development," he added.
