Bangalore July 19 (UNI) Biocon Limited, India's leading biotechnology company and Abraxis BioScience, Inc., an integrated, global biopharmaceutical company, today announced an agreement wherein Abraxis will license the right to develop a biosimilar version of G-CSF (granulocyte-colony stimulating factor) in North America and the European Union.
Under the terms of the agreement, Biocon would receive an upfront licensing fee and following approval in the licensed territories, royalties from Abraxis BioScience. Detailed financial terms of the agreement were not disclosed in the release issued here jointly by the two companies.
''Abraxis Bioscience is an ideal partner for Biocon as we increase our focus on oncology'' said Biocon Chairman and Managing Director Kiran Mazumdar-Shaw adding that "the present licensing arrangements will certainly pave the way to other opportunities in the foreseeable future." G-CSF is an haematopoietic growth factor that works by encouraging the bone marrow to produce more white blood cells.
Therapeutic G-CSF is primarily used for the treatment of neutropenia, the lowering of the white blood cells that fight infections. Biocon has received regulatory approval from the Indian DCGI for the treatment of neutropenia in cancer patients and intends to launch the product in India through its Oncotherapeutics division.
UNI
Under the terms of the agreement, Biocon would receive an upfront licensing fee and following approval in the licensed territories, royalties from Abraxis BioScience. Detailed financial terms of the agreement were not disclosed in the release issued here jointly by the two companies.
''Abraxis Bioscience is an ideal partner for Biocon as we increase our focus on oncology'' said Biocon Chairman and Managing Director Kiran Mazumdar-Shaw adding that "the present licensing arrangements will certainly pave the way to other opportunities in the foreseeable future." G-CSF is an haematopoietic growth factor that works by encouraging the bone marrow to produce more white blood cells.
Therapeutic G-CSF is primarily used for the treatment of neutropenia, the lowering of the white blood cells that fight infections. Biocon has received regulatory approval from the Indian DCGI for the treatment of neutropenia in cancer patients and intends to launch the product in India through its Oncotherapeutics division.
UNI
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