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.