Putra Nilai, Negeri Sembilan – December 18, 2014 – Inno Bio Ventures Sdn. Bhd. (Inno Bio) is making one step forward with a strategic collaboration with Aryogen Biopharm (Aryogen) to produce the first Malaysian made biosimilars for local and regional market. The collaboration is finalised in an exchange of agreement ceremony held today, witnessed by Yang Berhormat Datuk Dr. Ewon Ebin, Minister of Science, Technology and Innovation Malaysia (MOSTI).
“Biopharmaceutical is one of the lucrative industries to support the economic growth. MOSTI sees the role of healthcare as one of the flagship sectors, and we will continously support Inno Bio in their effort to produce and commercialise biopharmaceutical products”, says YB Datuk Dr. Ewon Ebin at the ceremony today.
“I hope this collaboration between Inno Bio & Aryogen to produce the first Malaysian made biosimilars, will revolutionise healthcare by reducing the cost and increasing access to life-saving drugs”, he added.
Biotechnology-based drug is forecasted to dominate treatment methods in the future. Globally, the total market value is more than USD160 billion in 2013 with 8-11% growth annually. (Source: IMS Health, MIDAS, MAT, 2013)
There is a huge gap for patients to access these biologic drugs given its high cost factor. It is a global issue that must be addressed immediately, in order to provide more patients with the best treatment for chronic diseases such as cancer and renal failures. It is claimed that the price for biosimilar drugs can be offered at 30 % to 40 % discount than the originator biologics.
“We are proud to announce this strategic business collaboration between Inno Bio and Aryogen for the development, production and commercialisation of four biosimilar drugs”, says YBhg Datuk Dr. Ahmed Tasir Bin Lope Pihie, President, Inno Bio Ventures Sdn. Bhd.
“The drugs will be manufactured at Inno Biologics and jointly-marketed in Malaysia and ASEAN. Two products are cancer related, for blood deficiency and auto-immune inflammatory diseases”, he added.
The drugs selected under this partnership are proven successful in clinical development and had been registered and marketed by Aryogen in several countries. With this strategic partnership, Inno Bio is responsible for the registration and commercialisation of the biologic products. If clinical trials are required, we are ready.
This collaboration will position Malaysia as a country with capabilities in the production of biologic drugs. Inno Bio can be a significant player in contributing to the government’s aspiration to achieve high-income nation status by the year 2020.
About Inno Bio Ventures Sdn. Bhd.
Inno Bio Ventures Sdn. Bhd. is a company incorporated under the Ministry of Finance, was established in 2002 and closely affiliated with the Ministry of Science, Technology and Innovation (MOSTI). The establishment of its subsidiaries, such as Inno Biologics is a boost to the development of the biotechnology industry that meets the government inspiration to make biotechnology as one of the main contributors to the economic growth and Gross Domestic Product (GDP).
It is in line with the National Biotechnology Policy launched in 2005, which among other things, emphasizes the development of healthcare biotechnology, industrial biotechnology development, research and development and technology acquisition and development of human capital.
About Aryogen Biopharma
Aryogen Biopharma (Aryogen) is a private Biopharmaceutical manufacturing company based in Tehran, Iran and was established in 2009.Aryogen is producing several biopharmaceuticals vital for saving life of many patients. The drugs from treatment of some blood disorders to fighting against several types of cancer, to treatment of autoimmune diseases.
Aryogen’s biosimilar products consist of several multi-billion worth of medicine or blockbuster drug. AryoGen is the first company in the world, producing biosimilar form of Blood Coagulation Factor VII called AryoSeven which is a biosimilar form of Novoseven (from Novo Nordisk) with multi billion dollars world market value and is used especially for hemophilia patients.
Cinnagen, a sister company of Aryogen was established in 1994. Cinnagen is also manufacturing various biopharmaceutical products which are read in the market.
Corporate Communications Unit:
Nur Asma’ Ahmad Safyan,
Inno Bio Ventures Sdn. Bhd.
Tel: +603-7996661 | Fax: +606-7996660 | HP: +6013-3051777