Prestige Biopharma and Intas Pharmaceuticals Announce Partnership to Commercialize Bevacizumab Biosimilar in the US, Europe, Canada, MENA, Brazil, Mexico, South Africa, CIS and the SEA countries
SINGAPORE, July 26, 2022--(BUSINESS WIRE)--Prestige Biopharma Limited (KRX: 950210, hereafter referred to as "Prestige") and Intas Pharmaceuticals Limited (hereafter referred to as "Intas") today announced that the two companies have entered into a binding agreement for the exclusive partnership and supply for the commercialization of Prestige Biopharma’s bevacizumab biosimilar, in the US, Europe, Canada, MENA, Brazil, Mexico, South Africa, Thailand, Vietnam, Philippines, Malaysia, Singapore, Indonesia, Kyrgyzstan and Tajikistan.
Prestige’s bevacizumab (HD204) is a mAb biosimilar to Roche’s Avastin®, an inhibitor of vascular endothelial growth factor (VEGF), which is used in combination with other therapies to treat patients with multiple forms of cancer including metastatic colorectal cancer, advanced non-small-cell lung cancer, advanced kidney cancer, certain types of epithelial cancers and cancers of the cervix. HD204 is currently in Phase III clinical development (SAMSON-II) and the US and EU filing is planned next year. Positive results were previously reported from the Phase I clinical trial (SAMSON-I) which evaluated the pharmacokinetics, safety and immunogenicity of HD204 to Avastin®.
The partnership arrangement includes the exclusive rights for Intas and its affiliate Accord Healthcare that will commercialize the bevacizumab biosimilar in the US, Europe, Canada, MENA, Brazil, Mexico, South Africa, Thailand, Vietnam, Philippines, Malaysia, Singapore, Indonesia, Kyrgyzstan and Tajikistan, leveraging their strong sales and marketing capabilities and experience in successfully bringing new biosimilars to market. As one of the key players in the global biosimilar market, Accord has a longstanding commitment to oncology with proven commercial capabilities and it currently supplies around one in three injectable oncology medicines in Europe.
This collaboration represents the successful execution of the company’s strategy to expand its market reach in Europe and Canada leveraging Accord’s strong global footprint and deep commercial expertise. The global sales of bevacizumab including its biosimilars were recorded at USD 6.4 billion1) last year and the market is expected to continue growing. Prestige’s HD204 with excellent cost competitiveness based on the company’s proprietary bevacizumab production technology will be providing affordable access to more patients in need.
Lisa S. Park, CEO of Prestige Biopharma, commented: "We are delighted to establish a partnership with Intas for the key markets, the US and Europe. Accord is the ideal partner to commercialize our bevacizumab biosimilar in these territories. With this collaboration, we look forward to further strengthening the value of our biosimilar programs in global markets."
Binish Chudgar, Vice Chairman & Managing Director of Intas Pharmaceuticals, commented: "We are pleased to announce the collaboration with Prestige Biopharma. This collaboration is in line with our long-term strategy and reinforces our commitment to improving access to high-quality biosimilar drugs for cancer patients globally."
About Prestige Biopharma Limited:
Prestige Biopharma Ltd. is a Singapore-based biopharmaceutical company with operations in USA and Korea, specialising in the discovery and development of biosimilars, novel antibodies and vaccines. The company strives to become a global innovator through the development of first-in-class mAbs including PBP1510 (INN: Ulenistamab) anti-PAUF mAb for pancreatic cancer that recently obtained FDA approval for Phase 1/2a IND and orphan designation from FDA, EMA and MFDS. Prestige's rich portfolio of biosimilars in various stages including HD201 trastuzumab under marketing authorisation review, PBP1502 adalimumab in Phase 1 and others, is aimed to provide affordable quality medicines to those who need. Prestige’s business also includes alliance vaccine development and production, starting with the partnered commercial production of COVID-19 vaccines. For more information, please visit www.prestigebiopharma.com.
About Intas Pharmaceuticals Limited:
Intas Pharmaceuticals Ltd. is a leading vertically integrated pharmaceutical company based in Ahmedabad, India, having end-to-end capabilities of formulation development, manufacturing and marketing along with backward integration of APIs. The organisation has more than 18,000 employees and 14 manufacturing sites worldwide and sells products in more than 85 countries. The Intas Group's revenue amounted to USD 2.3 bn in FY 2020-21 and the compounded annual growth rate of revenue has been 19% in the past 5 years. For more information, please visit www.intaspharma.com.
1) Source: IQVIA
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Global Communication Team
Prestige Biopharma Ltd.