iBio collaborates with Kanematsu Chemicals to target Japanese market

USA-based iBio Inc (NYSE: IBIO) and Japan’s Kanematsu Chemicals, part of Kanematsu Corp (TYO: 8020) have entered into a collaboration agreement under which Kanematsu will market the novel iBioLaunch platform in Japan.

The accord combines iBio's plant-based expression system and expertise for rapid, reliable and economical development and production of biological vaccines and therapeutics, with the marketing reach and regional expertise of the life science group from Kanematsu. Financial terms of the deal were not disclosed.

"The pharmaceutical business is one of the core businesses in which we are expecting further expansion, and the collaboration with iBio will lead Kanematsu Chemicals Corporation to its success," said Kazuyuki Matsunaga, president of Kanematsu Chemicals. "iBioLaunch has great potential to solve existing issues in the development and production of these products for the Japanese and export markets. We are very excited to start introducing this excellent technology to the Japanese pharmaceutical industry," he added.