Richter enters into asset purchase agreement for arthritis drug
Gedeon Richter Plc. announced that it has entered into an asset purchase agreement with Mycenax Biotech Inc. in respect of biosimilar tocilizumab for the treatment of rheumatoid arthritis, according to a press release sent to the Budapest Business Journal.
According to the agreement, Richter receives worldwide rights to develop, manufacture, and commercialize 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 mln for exclusive negotiation rights and will pay upon signature an additional USD 3 mln 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, CEO of Richter.
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