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news.Global pharmaceutical company ProMetic Life Sciences has secured a business deal with a Chinese biopharmaceutical company for a large scale biomanufacturing process.
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In the first order, the Chinese company will purchase Mimetic Ligand affinity adsorbent, developed and manufactured by the UK-based subsidiary of ProMetic, to manufacture a biosimilar product in China.
According to the company, the recurring purchase of affinity adsorbent for commercial use would generate revenues between $3m to $5m in a year. The supply of this order will occur in the fourth quarter of 2011.
ProMetic Biosciences CEO Steve Burton said the company’s products and process expertise enable their customers to produce lower-cost high quality biosimilars and achieve benefits even in highly competitive and cost conscious emerging markets.