Richter entered into an asset purchase agreement with Mycenax for the biosimilar tocilizumab

Richter entered into an asset purchase agreement with Mycenax for the biosimilar tocilizumab May 08, 2020, 10:20

Gedeon Richter Plc. ("Richter") today announced that it has entered into an asset purchase agreement with Mycenax Biotech Inc. ("Mycenax") in respect of biosimilar tocilizumab ("Product") for the treatment of rheumatoid arthritis.

According to the agreement Richter receives worldwide rights to develop, manufacture and commercialise the Product. Biosimilar tocilizumab assets comprise the cell lines, intellectual property (IP) rights, technology know-how and data generated by Mycenax. The Parties have agreed that the price payable by Richter in four installments amounts to USD 16.5 million. Richter made a down payment of USD 2 million for exclusive negotiation rights and will pay upon signature an additional USD 3 million as upfront payment. The Product is expected to reach the market in the European Union, Canada, Australia and Japan during 2025.

"We are thrilled to see our biosimilar portfolio taking shape as we add this highly promising rheumatology project to our biologicals pipeline," – said Gábor Orbán, Chief Executive Officer of Richter.

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