ProBioGen and Minapharm Enter into Development and Co-promotion Agreements
ProBioGen and Minapharm jointly announced that they have entered into two separate agreements to develop two therapeutic proteins, one exclusively for Minapharm and another second generation biopharmaceutical product for co-promotion. In the first agreement, ProBioGen will apply its cell generation process for biopharmaceutical cell lines. Minapharm, via its subsidiary, Rhein-Minapharm-Biogenetics, will carry out the pertinent process research & development, production and commercialization of the target therapeutic proteins.
In the second agreement, ProBioGen and Minapharm will co-develop a second generation biopharmaceutical product using either ProBioGen's pre-optimised CHO cell line or its proprietary Human Neuronal Cell Line AGE1.HN. Minapharm will exclusively market the product in Middle Eastern and African countries while ProBioGen will have promotional rights in Rest of the World. Both companies will also share the revenue from the product. Further financial details are not disclosed.
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