Jacobson Pharma to tap biosimilars market
Jacobson Medical and Joyful Ascent Limited, subsidiaries of Jacobson Pharma Corporation Limited have entered into a Licensing Framework Agreement and a Capital Increase Agreement with Shanghai Henlius Biotech Inc. Shanghai Henlius is a subsidiary of Shanghai Fosun Pharmaceutical Co., Ltd, that is a technological leader in research and development of biosimilar antibody drugs in China. These collaborative agreements will help Jacobson Group and Shanghai Henlius forge a strategic platform to quickly tap into the fast growing biosimilar market in Hong Kong and certain emerging ASEAN markets. Jacobson Pharma is a leading company engaged in the research, development, production, marketing and sale of generic drugs and proprietary medicines. Under the Licensing Framework Agreement, Jacobson Medical will be granted an exclusive right to develop and market a propriety biosimilar product of Shanghai Henlius in Hong Kong and Macau for a period of 10 years, alongside a right of first negotiation towards entering into a definitive agreement to commercialize the product in certain emerging markets within ASEAN domains.
The product is the second monoclonal antibody developed by Shanghai Henlius with a general name of Recombinant Humanized Anti-Her2 Monoclonal Antibody Injection, which belongs to the biosimilar version of Trastuzumab.