Mabion Signed Supply And Commercialization Agreement With Mylan (MYL) Regarding Mabion CD20 For EU
11/10/2016 2:18:31 PM
Today Mabion S.A. signed a long-term development and commercialization agreement with Mylan Ireland a wholly owned subsidiary of Mylan N.V. – a leading global pharmaceutical company. The agreement gives Mylan exclusive rights to sell Mabion’s biosimilar of Mabthera/Rituximab (Mabion CD20) in all EU countries and non EU Balkan states. Mylan will support Mabion in Mabion’s effort to secure approval of Mabion CD20 by the European Medicine Agency. Under the terms of the agreement and subject to certain conditions, Mylan will pay Mabion an upfront payment of US$10 million and additional milestone payments in the aggregate of up to US$35 million subject to filing and approval of marketing authorizations and commercial launch in key countries, as well as royalties based on annual net sales.
Maciej Wieczorek, PhD, CEO of Mabion, said: We’re excited to finalize this EU collaboration with a global player like Mylan, which has strong experience in generics and biosimilars. We are convinced that with our partner we will be able to ensure successful commercialization in EU after Mabion’s CD20 approval. This partnership will benefit patients in EU, Mabion and Mabion’s shareholders.
Plexus Ventures, a global pharmaceutical business development firm, advised Mabion S.A. on this transaction.
Mylan N.V. is a global generic and specialty pharmaceuticals company. Mylan has approximately 40,000 employees, more than 2,700 generic and specialty products, and serves customers in more than 165 countries and territories. Mylan’s global R&D and manufacturing platform includes more than 50 facilities, and they are one of the world's largest producers of active pharmaceutical ingredients. Mylan has total sales of nearly 10 billion USD.
Mabion SA is a leading biotechnology company in Poland, created for the purpose of marketing cutting-edge biotechnological drugs based on humanised monoclonal antibodies.This technology, developed independently in Mabion, meets highest international standards. The process of humanising monoclonal antibodies, which is the pinnacle of modern biotechnology, allows for creation of targeted drugs which act selectively on tumour cells, thus ensuring greater effectiveness and lower toxicity of the therapy. Mabion is one of the few biopharmaceutoical companies with the capacity for comprehensive development and implementation of all kinds of biotechnology drugs – starting with the design stage, through the selection of the platform and manufacturing technology, and ending with the manufacture and obtaining marketing authorisation of the finished drug. Currently, the company conducts research and development works on several biotech drugs used in the treatment of cancers and inflammatory diseases.
More information available at: www.mabion.eu.
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