The signature of the development contract, along with a consultancy contract signed in parallel, will provide Viropro with product development and licensing revenues of $2.14 million over the next two years.
This agreement will bring multiple sub-licensing agreements around the world, generating licensing fees and royalties which could represent up to approximately $100 million in revenues for Viropro over the 10 year term of this agreement. The contract offers exclusive territories for both companies and the opportunity to work together in non exclusive territories.
Both companies will have the right to sub-license the corresponding technologies and materials to third parties through out-licensing and partnership agreements. As mutually agreed to by Intas Biopharmaceuticals (IBPL) and Viropro, the respective companies will retain the intellectual property rights throughout the term of the agreement.
In addition, IBPL has secured a first right of refusal for all additional follow-on biopharmaceuticals developed by Viropro which the companies say will further strengthens unique commercial and research collaboration opportunities.
Dr Jean-Marie Dupuy, president and CEO of Viropro, said: “We are very proud to finalize the agreement with IBPL. It clearly demonstrates the capacity of Viropro’s management team to achieve the goals set out in our business plan. This partnership testifies to Viropro’s strong intellectual property and process development skills.”