On May 23, Canadian company PlantForm Corporation and Brazil’s PharmaPraxis signed a collaboration and license agreement to develop, manufacture, and commercialize biosimilar and/or biobetter versions of six leading biologic drugs using PlantForm’s patented plant expression system.
The partnership will begin by developing similar or better versions of the six monoclonal antibody products that together earned annual global sales of $31.5 billion. These drugs will also lose their patent protection within the next six years.
President and CEO of PlantForm, Dr. Don Stewart confirms the importance and the strategic nature of the partnership to the company’s plant-based manufacturing platform for biologic drugs. “We look forward to working together to bring highly valuable, lower-cost biopharmaceuticals to the Brazilian market and beyond.”
Eduardo Cruz, CEO of PharmaPraxis identified “alternative routs of biopharmaceutical expression” as key elements in the company’s corporate strategy. “We aim to bring innovative cutting edge technology to Brazil, and PlantForm’s is certainly within that goal. We will bring valuable and less expensive biologic drugs to the Brazilian and Latin American markets.”
Established in 2008, PlantForm Corporation produces low-cost biologic drugs for cancer and other critical conditions. The company is currently developing biosimilar versions of three antibody drugs for cancer, as well as antibodies for the treatment of human immunodeficiency virus (HIV). The company also notes the development of an enzyme that protects against nerve agent exposure under contract with the U.S. Defense Advanced Research Projects Agency. The projected revenue is more than $50 million by 2017.
PharmaPraxis is a biopharmaceutical technology platform corporation specializing in the manufacturing and commercialization of biosimilar and innovator biologic drugs, pharmacogenomic and genetic kits, and alternative routes for biopharmaceutical expression. The company targets genetic disorders, immune inflammatory disorders, cancer, individualized medicine and neglected diseases. PharmaPraxis belongs to the Axis Biotec Brasil company group, which also includes Silvestre Labs, Cryopraxis, and CellPraxis.