As per the terms of the agreement Pfenex is eligible to receive maintenance fees, milestone payments as well as royalty payments on any product sales derived from the agreement.
Reportedly, both the companies’ scientists are expected to collaborate on developing the production strains and the process that will be used to produce product in support of clinical development and commercial production of the biosimilar product.
Atul Sobti, managing director and CEO of Ranbaxy, said: “within our overall Bio-therapeutic plan, the Pfenex technology will enable Ranbaxy to develop a high quality, cost effective product.”
Bertrand Liang, CEO of Pfenex, said: “This collaboration is a great combination of the strenghth of Pfenex Expression Technology being leveraged for the cost effective production of biosimilars, and Ranbaxy’s proven ability to develop and launch products globally.”