BERLIN, Germany and CAIRO, Egypt, April 19 /CNW/ - ProBioGen and
Minapharm jointly announced today that they have entered into two separate
agreements to develop two therapeutic proteins, one exclusively for Minapharm
and another second generation biopharmaceutical product for co-promotion. In
the first agreement, ProBioGen will apply its proven cell generation process
for biopharmaceutical cell lines. Minapharm, via its subsidiary,
Rhein-Minapharm-Biogenetics, will carry out the pertinent process research &
development, production and commercialization of the target therapeutic
In the second agreement, ProBioGen and Minapharm will co-develop a second
generation biopharmaceutical product using either ProBioGen's pre-optimised
CHO cell line or its proprietary Human Neuronal Cell Line AGE1.HN. Minapharm
will exclusively market the product in Middle Eastern and African countries
while ProBioGen will have promotional rights in Rest of the World. Both
companies will also share the revenue from the product. Further financial
details are not disclosed.
"These two agreements provide a very strong bond between our two
companies and represent a significant step forwards in the development of our
company with access to product revenue in majors markets such as Europe,
America and Japan." said Michael Schlenk, CEO of ProBioGen.
Dr. Wafik Bardissi, CEO of Minapharm added, "This event further
substantiates Minapharm's position at the regional forefront of research,
development and marketing of innovative recombinant DNA products. It also
coincides with the German-Egyptian Year of Science and Technology "2007"
designated by both governments while strengthening tides between our company
and one of the leading German biotech companies."
For further information:
For further information: ProBioGen AG: Hing Kin Chan, PhD, VP Commercial
Development, +49-(0)30-924-006-0, email@example.com; Minapharm
Pharmaceuticals: Frank Mueller, R&D Manager, firstname.lastname@example.org