Mabion SA has signed a long-term development and commercialization agreement with Mylan Ireland a wholly owned subsidiary of Mylan NV. The agreement gives Mylan exclusive rights to sell Mabion’s biosimilar of Mabthera/Rituximab (Mabion CD20) in all EU countries and non EU Balkan states. Mylan will support Mabion in Mabion’s effort to secure approval of Mabion CD20 by the European Medicine Agency.
Under the terms of the agreement and subject to certain conditions, Mylan will pay Mabion an upfront payment of US$10 million and additional milestone payments in the aggregate of up to US$35 million subject to filing and approval of marketing authorizations and commercial launch in key countries, as well as royalties based on annual net sales.
Maciej Wieczorek, PhD, CEO of Mabion, said: We’re excited to finalize this EU collaboration with a global player like Mylan, which has strong experience in generics and biosimilars. We are convinced that with our partner we will be able to ensure successful commercialization in EU after Mabion’s CD20 approval.
This partnership will benefit patients in EU, Mabion and Mabion’s shareholders. Plexus Ventures, a global pharmaceutical business development firm, advised Mabion S.A. on this transaction.
Source: Story from Mabion SA. Please note: The content above may have been edited to ensure it is in keeping with Technology Networks' style and length guidelines.