The Hyderabad-based Biological Evans Ltd, one of the leading biotech players in the country, has entered into partnership with the US-based Itero Biopharmaceuticals Inc, it is learnt.
According sources, under the agreement Biological E and Itero Biopharmaceuticals will collaborate to obtain worldwide approvals and commercialise the jointly developed products. As per the agreement, Itero will be responsible for financing the development of drug candidates, while Biological E will be responsible for financing the manufacture of the products to meet worldwide demand. Itero will retain commercial rights in the United States, Europe, and Japan, while Biological E will retain commercial rights in all other countries.
Biological E sources, said, "As the company is expanding into a global player in the biopharmaceuticals industry, it is excited to collaborate with Itero to jointly develop and manufacture important biotherapeutic products. Biological E is looking forward to work closely with the Itero team to establish cGMP certification and product approvals from the US FDA and EMEA for our biopharmaceuticals facilities".
Commenting on the collaboration with Biological E Bryan Lawlis, chief executive officer Itero, said, "After a worldwide search of potential partners, we are thrilled to collaborate with Biological E. Their expertise in biologics manufacturing and commercialization is demonstrated by their success in the Indian market and their collaborations with global pharmaceutical companies".
He further added that Itero has the advantage of working with a group of accomplished investors who have deep biologics operational experience in both the United States and India. With this, it believe that it can build a significant company focused on the cost-effective, worldwide development, production and commercialization of value-added protein and antibody-based therapeutics addressed to significant market opportunities.