Ipca Laboratories said that it has entered into a technology transfer agreement with Omexa Formulary private for a biosimilar clone, process development.
Omexa Formulary Private is at the forefront of biosimilar innovation, dedicated to producing high-quality alternatives to brand-name biologics through scientific excellence, unwavering commitment and technological innovation.Under this agreement, the company will grant to Omexa a non-exclusive right to research, develop, manufacture and market a anti-cancer biosimilar for global market.
This agreement shall enable Omexa to develop this anti-cancer biosimilar from early stage of development to clinical trials and subsequent commercial launch. This agreement will also strengthen Omexa's capability of biosimilar development.
Pranay Godha, managing director and CEO, IPCA, said, This collaboration with Omexa Formulary, an innovation driven and fast-growing biotech company, shall facilitate Omexa to build a solid foundation for potential anti-cancer and anti-inflammatory monoclonal antibody product development. This collaboration with Omexa in turn shall also help lpca in the development and delivery of affordable and quality biologic medication for the treatment of chronic illnesses in the global market - a presently unmet and crucial clinical need. lpca is committed to successfully develop quality and affordable biosimilars meeting global standards and gain a decisive edge in the battle against chronic ailments.
Dr. Nate Ramanathan, managing director & CEO of Omexa Formulary, said, This collaboration with lpca, a most reliable and trusted pharmaceutical company shall facilitate Omexa the availability of expertise and technology for the biosimilars development work and ensuring that Omexa play its part in serving our core values of affordable access to quality biologic drugs for a large population through our pioneering methods in R&D and manufacturing development.
Ipca Laboratories is an Indian multinational pharmaceutical company. It produces theobromine, acetylthiophene, and p-bromotoluene as active pharmaceutical ingredients (APIs). Ipca sells these APIs and their intermediates globally.
The companys consolidated net profit jumped 66.8% to Rs 179.88 crore on 32.8% increase in net sales to Rs 2052.86 crore in Q3 FY24 over Q3 FY23.
The scrip rose 0.44% to Rs 1,206.35 on the BSE.
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