Ranbaxy to develop new product based on Pfenex technology

Ranbaxy has outlined plans to develop a new biosimilar therapeutic product based on a protein technology produced by Pfenex.

The two companies will be working together to create the processes behind the new treatment, which will be produced using the Pfenex Expression Technology platform.

This system utilises the micro-organism Pseudomonas fluorescens to create a variety of proteins and other by-products which offer potential applications in biopharmaceutical development.

As part of the agreement, Pfenex will be offered maintenance fees and milestone payments based on the clinical and commercial success of the resulting product.

Pfenex chief executive officer (CEO) Bertrand Liang stated that the collaboration will benefit greatly from Ranbaxy’s experience in launching products on a global scale.

Atul Sobti, CEO and managing director of Ranbaxy, added: “Within our overall biotherapeutic plan, the Pfenex technology will enable Ranbaxy to develop a high-quality cost-effective product.”

Last month, Ranbaxy published its annual financial breakdown, expressing satisfaction with its performance despite a year-on-year sales decline.