CCM Duopharma Biotech Berhad (CCMD) has signed a strategic partnership with Inno Bio Ventures Sdn Bhd (IBV) to jointly develop biosimilar products and explore future business opportunities, especially in the manufacturing and commercialisation of erythropoietin (EPO) biosimilars.
The biopharmaceutical market is the fastest growing area of the pharmaceutical industry and it includes products such as vaccines, cancer agents and arthritic drugs. Biosimilars are follow-on versions of existing biopharmaceutical products whose patents have expired. They are developed using the same genetic contents and are designed to have the same mechanism of action in terms of safety and efficacy as the original biopharmaceutical products.
CCM Duopharma Biotech Berhad Chief Executive Officer, Leonard Ariff bin Abdul Shatar said the MOU would enable both parties to contribute their respective expertise and resources to produce affordable and high quality biosimilars to address areas of clinical needs such as cancer and genetic diseases.
"The world market for biosimilars offers many opportunities and the increasing demand from patients and governments particularly for cheaper bioequivalent versions of the original drugs to reduce medical expenditure, especially during economic downturns. While biosimilar products are cheaper, there is no question of its efficacy and safety. This would assist in the current full reliance on imported material and save the Malaysian public and government substantial costs.
Last year, the Asian region captured 34.1 per cent share of the world biosimilars market which is expected to be worth US$19.4 billion by 2014. Malaysia is a late comer in this area but due to capabilities built-up over the last few years, it is hoped that Malaysia will be able to participate in the explosive growth in this area. Currently, the global biosimilars market is further boosted by the high demand for erythropoietin (EPO) biosimilars. Erythropoietin is used to treat anemia associated with cancer and renal disease and the market for this drug was worth almost US$13 billion in 2005, making it the world’s best selling human medicine.
"Our involvement in this collaboration allows us to leverage on CCM Group’s research and development (R&D) centre, Innovax and fully utilise its cutting edge technological capability to tap into the huge potential of manufacturing and marketing erythropoietin (EPO) biosimilars as well as other biosimilar products locally and overseas," said Leonard.
CCMD’s association with IBV will provide a platform for CCMD to strengthen its R&D and promote technological advancement to enhance the Company’s presence and competition within the biopharmaceutical industry.
"We look forward to cooperating with IBV and feel confident that this joint venture will develop into a profitable and viable business model. We aim to become a market leader in this field and believe that this partnership will give us the competitive edge to progress towards our goal," Leonard added.
CCMD recently announced the establishment of the region’s first inert vaccines fill and finish facility which will become operational by the fourth quarter of this year. The RM7 million facility is suitable for the vialling of CCMD’s bulk vaccines in the pipeline and also provides third parties such as smaller pharmaceutical companies and universities with an effective solution for their production and packaging needs. It has the ability to compound, fill, freeze dry, cap, inspect, label and pack inert vaccines to meet the increasing needs of customers who wish to commercialise and launch their products into the market.
CCMD is a subsidiary of CCM Berhad, which is listed on the main board of Bursa Malaysia and is a key player in the fertilisers, chemicals and pharmaceuticals industries. CCMD''s range of products includes tablets, capsules, syrup, oral antibiotic, creams, haemodialysis solution, sterile irrigation solution, sterile powder injectables, small volume injectables, dental cartridges and eye drop preparations.
IBV is an investment holding company wholly-owned by the Ministry of Finance Incorporated with a close affiliation with the Ministry of Science, Technology and Innovation. The company is in the business of producing monoclonal antibodies and therapeutic proteins and implements activities across the biotechnology value chain to drive bio business ventures in the country.
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