Tehran, Iran – October 23, 2016 – Inno Bio Ventures Sdn. Bhd. and Aryogen Pharmed Co. receives MATRADE Award for International Partnership from Malaysia External Trade Development Corporation (MATRADE) at a ceremony in conjunction with Trade and Investment Mission (TIM) lead by Yang Berhormat Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry (MITI) held in Tehran, Iran today.
Datuk Dr. Ahmed Tasir Lope Pihie, Chairman of Joint Venture Companies of Inno Bio Ventures Sdn. Bhd. and Aryogen Pharmed Co. and Dr. Fereidoun Mahboudi, Chairman of Aryogen Pharmed Co., received the award from Yang Berhormat Minister.
“We are honoured to receive this recognition. I would like to thank MATRADE for recognising our efforts to spur the biosimilar development through strategic partnership and exchange of technology between Inno Bio Ventures Sdn Bhd and Aryogen Pharmed Co.,” said Ahmed Tasir.
“We hope the government of Malaysia will continue to support our business venture with Aryogen as we had progress so much and we are only a few steps away to register and market the products in Malaysia and ASEAN region.” he added.
The strategic business partnership between Inno Bio and Aryogen was inked in December 2014 for the development, production and commercialisation of four biosimilar drugs:
- Rituximab, for the treatment of leukaemia
- Trastuzumab, for the treatment of breast cancer
- Factor VII, for the treatment of blood disorders
- Etanercept, for the treatment of rheumatoid arthritis
The drugs selected under this partnership are proven successful in clinical development and had been registered and marketed by Aryogen in several countries. This partnership will provide series of technology transfers, cGMP manufacturing in the existing Inno Bio biopharmaceutical facility in Putra Nilai, Malaysia.
In a separate occasion, a ‘Symbolic Handover of Two Cell Lines i.e Rituximab and Trastuzumab’ to mark the successful technology transfer process between Inno Bio and Aryogen is held in the presence of Yang Berhormat Dato’ Sri Mustapa Mohamed. Inno Bio embarks on developing biosimilars for the Malaysian, ASEAN market and also to other D8 countries.
MATRADE Award for International Partnership is aimed at giving recognition to companies which demonstrates excellence in strategic collaborations and partnership with foreign companies. This initiative should continue to open more opportunities for Malaysian companies to expand their capabilities and technology to international market. The award ceremony is part of MITI’s trade and investment mission to Tehran, Iran from 21st to 25th October 2016.
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 Pharmed Co.
Aryogen Pharmed Co. 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 haemophilia patients.
Cinnagen, a sister company of Aryogen was established in 1994. Cinnagen is also manufacturing various biopharmaceutical products which are already in the market.
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