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.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
