Viropro, Inc. to Unlock Value from its Biosimilars Portfolio
May 16 2012 - 9:04AM
Business Wire
VIROPRO (VPRO.PK). Viropro creates a biosimilars
technology subsidiary.
Viropro, Inc. creates a technology subsidiary to focus on the
burgeoning International market for biosimilar drug therapeutics.
Over the past year, several of the large pharmas have tied up with
Contract Research Organizations (CROs) and/or with Contract
Manufacturing Organizations (CMOs) to enter the field of
biosimilars. With the US FDA publishing guidelines for biosimilar
approvals earlier this year, and guidelines already in existence in
the European Union, this activity has taken a leap forward as
companies jostle for position to capture parts of what is expected
to be lucrative, multi-billion dollar annuities for years to come.
According to a Frost & Sullivan report (PharmaTimes, U.K., May
11, 2012), the European biosimilars market is forecast to grow to
$3.99 billion in 2017 from $172 million in 2010. That is equivalent
to compound growth of 56.7% a year. The expiration of patents for
blockbuster biologics is expected to drive the growth.
Viropro International, Inc. (VPI), a 100% subsidiary of Viropro,
Inc., will house Viropro, Inc.’s biosimilar technologies and
associated technical developments for the purpose of
commercialization through external partnerships. The starting
line-up and portfolio consists of sophisticated biosimilar
molecules such as Ranibizumab (biosimilar of Lucentis®),
Trastuzumab (-Herceptin®), Rituximab (-Rituxan®), Bevacizumab
(-Avastin®), Infliximab (-Remicade®) and Etanercept (-Enbrel®). It
is from this portfolio that Viropro signed a Letter of Agreement
with Spectrum Pharmaceuticals, Inc. for Rituximab, and is in active
discussions with potential clients for its other biosimilar
technologies. (“®” are registered trademarks of their respective
owners.)
For client development contracts where Viropro would take a
process from the basic clone through to clinical production,
Viropro estimates the combined, aggregate realizable value of its
biosimilars portfolio to be in the range of $33 million to $42
million, depending upon market dynamics of the individual
products.
Dr. Datar, President & CEO of Viropro, Inc. draws the
following distinction in advancing such a set up: Viropro
International, Inc., located in Montreal, Canada, currently
licenses certain technologies developed at the renowned
Biotechnology Research Institute (BRI) in Montreal, and enjoys a
close working relationship with BRI. It thus makes sense for
Viropro, Inc. to concentrate its technology development activity
through VPI. Viropro, Inc. will continue to focus on developing a
global, one-stop shop for “Biotech Contract Services,” irrespective
of the type of molecule that is being developed for its clients.
VPI, on the other hand, allows Viropro, Inc. to unlock the value of
the Company’s biosimilars portfolio without interfering with
Viropro, Inc.’s contract services operations. Dr. Datar
additionally notes this is an exciting time to be positioning the
Company’s efforts on establishing partnerships in two fast growing
sectors of biotechnology – contract services and biosimilars.
About Viropro, Inc.:
Viropro, Inc. conducts operations through its subsidiaries
Viropro International, Inc., Biologics Process Development, Inc.,
Alpha Biologics Ltd. and Alpha Biologics Sdn. Bhd. Viropro’s
principal objective is to provide high-yield development and GMP
manufacturing services to biopharmaceutical companies in global
markets with unmet medical and/or market needs. The Company
specializes in the transfer of its core and proprietary
technologies for industrial production of biopharmaceutical
therapeutic proteins for the treatment of various diseases
including cancer, diabetes, hepatitis and multiple sclerosis.
(www.viropro.com)
Viropro Inc. Safe Harbor Statement
Except for any historic information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, which are subject
to section 27A of the Securities Act of 1933 and section 21E of the
Exchange Act of 1934, and are subject to safe harbor created by
these sections. Any statements that express or involve discussions
with respect to predictions, beliefs, plans, projections,
objectives, goals, assumptions of future events or performances are
not statements of historical fact and may be "forward-looking
statements". Forward-looking statements in this release may be
identified through the use of such words as "expects",
"anticipates", "estimates", "believes", or statements indicating
certain actions "may", "could", or "might" occur. Actual results,
performance or achievements could differ materially from those
anticipated in such forward-looking statements, which involve
numerous risks and uncertainties, including the Company's ability
to market its products and services in a competitive environment as
well as other factors.
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