Avesthagen inks pact with Malaysian Bio

AvestaBiotherapeutic and Research (ABRPL) has signed a pact with Malaysian Biotechnology Corporation to develop biosimilar (similar biological products) products. Biosimilars are also known as generic biologicals, biogenerics or follow-on biologics.

ABRPL, a joint venture between Avesthagen and Meditab Specialities, a part of the Cipla group, plan to establish a legal presence in Malaysia and place intellectual property rights for the product with ABRPL Malaysia.

The move would give ABRPL Malaysia an opportunity to obtain the BioNexus status offered by the government of Malaysia as well as apply for any relevant incentives. BiotechCorp has also agreed to facilitate the BioNexus status application, depending on its eligibility.

According to Villoo Morawala Patell, managing director, Avesthagen, ABRPL, Malaysian Biotechnology Corporation will enable the company to enhance its infrastructure needs to accelerate its 11 biosimilar product development programmes.

Biotech Corporation is an agency under the purview of the Malaysian ministry of science, technology and innovation and owned by the ministry of finance.

The agency identifies value propositions in biotech in both research and development and commerce. It supports these ventures through financial assistance and developmental and facilitation services.

"Malaysia's commitment to the advancement of science and technology is well known and therefore I am sure that Avesthagen's relationship with Malaysian Biotech will see a global need for biosimilars. Let us work towards the success of this unique south-south co-operation," added Patell.