India's Biocon takes over full control of JV with Cuba's CIMAB

Bangalore, India-based Biocon says that its subsidiary company Biocon SA, has entered into a definitive agreement to acquire the 49% equity stake held by Cuban drugmaker CIMAB SA in Biocon Biopharmaceuticals Private Limited, meaning that BBPL will now become a wholly-owned subsidiary of Biocon.

This move allows the two partners to focus on the joint development of novel biologics led by its most promising program T1h (anti-CD6 monoclonal antibody) which has just entered Phase III clinical trials in psoriasis.

BBPL was established to provide manufacturing support for a range of biopharmaceuticals to be jointly developed by the two partners. This partnership has already resulted in the successful launch of India's first novel monoclonal antibody, BIOMAb-EGFR, for the treatment of head and neck cancer. Biocon has also established ERYPRO (erythropoietin) as a major brand in India.