Business

Wednesday November 18, 2009

CCM Duopharma, Inno Bio to develop biosimilar product

BY SHARIDAN M.ALI


KUALA LUMPUR: CCM Duopharma Biotech Bhd has develop a strategic partnership with Inno Bio Ventures Sdn Bhd (IBV) to develop and commercialised the first locally produced biosimilar product, the erythropoietin (EPO), which the country currently importing at a value of RM45mil annually.

EPO is naturally occurring hormone produced by the kidney and it is important to the formation of red blood cells by the bone marrow.

EPO is used for the treatment of wide variety of ailment especially to manage anaemia associated with cancer and kidney failure treatment.

CCM Duopharma chief executive officer Leonard Ariff Abd Shatar said IBV would supply the bulk product where CCM Duopharma would concentrate on the finishing process and the marketing aspects.

“Currently, all of the EPO used in the country are all imported and costly, but with the effort by IBV, we will be able to commercialise EPO by the end of 2011 (and sell the product) at 40% lesser than the current price,” he told reporters after the memorandum of understanding (MoU) signing ceremony between the two companies in the presence of Prime Minister Datuk Seri Najib Tun Razak at the Bio Malaysia 2009 yesterday.

Leonard said with the international standard adopted by both companies, the EPO would also have the prospects to be exported to the Asean market which was five-fold bigger than Malaysian market size.

“And IBV facility in Nilai with the capacity of 1,000 litres bio-reactor is more than enough to cater demand from the Asean market,” he said.

Leonard said the MoU was also in line with its development and investment in fill and finish facility – the first of its kind in the country.

“And EPO maybe the first of nine to 10 products that both companies will be working together to develop and market in the future,” he said.

IBV director Datuk Dr Megat Burhainuddin Megat Abdul Rahman said as the Government-owned company, IBV targeted to produced EPO at affordable price for the mass public.


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