Bioventure, Minapharm Pharmaceuticals and MiGenTra Sign an Exclusive Agreement for the Commercialization of Multiple Biosimilar Candidates of Alvotech in the Middle East and Africa
BERLIN, CAIRO and DUBAI, UAE, Nov. 30, 2022 /PRNewswire/ -- Bioventure, a Dubai-based pharmaceutical company, Minapharm Pharmaceuticals, a Cairo-based pharmaceutical company, and MiGenTra GmbH, a Berlin-based pharmaceutical company, announced today the signing of an exclusive license agreement for the commercialization of multiple biosimilar candidates developed and manufactured by Alvotech, in Egypt and eighteen additional countries in Africa and the Middle East (the "Territory").
According to the agreement, Minapharm Pharmaceuticals and MiGenTra GmbH will share responsibilities in the Territory to file, launch and commercialize Alvotech's portfolio of licensed biosimilars once approved, under Bioventure's exclusive strategic partnership with Alvotech in the region. All other terms and product details in the agreement remain confidential.
Ashraf Radwan, Chief Executive Officer of GlobalOne Healthcare Holding said: "This agreement is another step in our journey to improve access to biopharmaceuticals across the MENA region by driving down their cost. In this way we hope to positively impact healthcare outcomes and patient quality of life, advancing the well-being of the communities we serve."
Dr. Wafik Bardissi, Chief Executive Officer of Minapharm Pharmaceuticals, said: "Minapharm has provided advanced proprietary technologies to the global biotech industry coupled with end-to-end manufacturing and commercialization expertise for more than two decades. This standout agreement with Bioventure enables selected Alvotech products to boost our regional and continental strategy and elevates access to complex medicines."
Dr. Lutz Hilbrich, Chief Executive Officer of MiGenTra GmbH, said: "This agreement with Bioventure will allow MiGenTra to provide patients across Africa and the Middle East with a unique set of high quality and affordable biological medicines by combining in-house developed biosimilars with Alvotech's highly complementary candidates. This deal empowers our belief that Healthcare is a human right and highlights our commitment and long-term vision to transform healthcare in the region."
Licensed biosimilar candidates cover a wide range of therapeutic areas, all characterized by high unmet medical need in the Territory.
Bioventure, a subsidiary of Yas Holding's Healthcare Division, GlobalOne Healthcare Holding (GHH), specializes in biosimilars and speciality generics, in/out-licensing, tech transfer, and investment in disruptive healthtech, medtech and biotechnology solutions. Bioventure is currently the Middle East and Africa's exclusive license holder for a comprehensive portfolio of biosimilar candidates developed and manufactured by Alvotech, a global biotech company headquartered in Iceland.
About GlobalOne Healthcare
GlobalOne Healthcare Holding LLC (GHH) operates as the Healthcare Division of Yas Holding LLC. With investments in leading bio-pharmaceuticals and innovative manufacturing solutions, GHH is delivering on its commitment to improve healthcare outcomes and patient quality of life. GHH's healthcare portfolio focuses on the provision of world-class healthcare services across a range of areas including customised clinical and non-clinical hospital management and healthcare consultancy services. Our companies specialise in biopharma, hospital management, medical supply chain, manufacturing, and occupational health.
Alvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Alvotech's current pipeline contains eight biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech is headquartered in Iceland and employs over 900 people world-wide, with offices in the U.S., Germany, Switzerland and India. Alvotech's shares are listed on the Nasdaq U.S. Stock Exchange and Nasdaq Iceland First North market under the symbol ALVO.
About Minapharm Pharmaceuticals
Minapharm Pharmaceuticals is a leading pharmaceutical company in Egypt and the Middle East and the premier biopharmaceutical company in Africa with over 20 years of experience in cellular and bioprocess engineering. Headquartered in Cairo, Minapharm commercializes over 100 life-saving and life-enhancing products ranging from small molecules to complex genetically-engineered proteins, with an impressive immunotherapy pipeline. Together with its wholly owned Berlin-based subsidiary, ProBioGen, Minapharm has established an integrated business model making it to-date the only gene-to-market biopharmaceutical company in the region. Minapharm employs a collective workforce of over 1400 and is listed on the Cairo and Alexandria stock exchange (Symbol: MIPH).
About MiGenTra GmbH
MiGenTra was founded in 2021. MiGenTra combines the scientific and manufacturing expertise from both contributing companies, ProBioGen and Minapharm Pharmaceuticals. It is established for product development and commercialization in the field of Biosimilars, Cell- and Gene Therapies (CGT) and Vaccines, capitalizing on the strong development and manufacturing capabilities of ProBioGen and Minapharm as well as on the excellent market position of Minapharm in the region.
Director of Business Development &
Head Corporate Development,
Business Development & Licensing
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SOURCE Minapharm Pharmaceuticals; MiGenTra GmbH
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