Biocon Biologics on Monday said it has inked an out-licensing agreement with Yoshindo Inc to commercialise its two biosimilar assets in the Japanese market.
Under the terms of this deal, Japan-based Yoshindo gets exclusive commercialisation rights in Japan for Ustekinumab and Denosumab -- developed and manufactured by Biocon Biologics -- for an addressable market opportunity of USD 700 million, Biocon Biologics said in a statement.
Biocon Biologics, a unit of Biocon, will receive an upfront license fee as well as additional payments on the achievement of certain development milestones over the next few years.
Ustekinumab biosimilar is a monoclonal antibody used to treat several autoimmune conditions, including psoriasis, Crohn's disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis.
Denosumab is a monoclonal antibody for the treatment of osteoporosis. "Once approved, these products will expand our offering of affordable, high-quality biosimilars in the Japanese market and help address unmet patient needs in bone health and immunology therapy areas," Biocon Biologics Deputy Chief Executive Officer Shreehas Tambe said.
The company is developing a broad portfolio of 20 biosimilar assets either independently or through strategic partnerships. Biocon Biologics became the first company from India to commercialise a biosimilar in Japan after its Insulin Glargine was successfully launched in Japan by another partner in 2016.
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