Philadelphia, Pennsylvania – Plexus Ventures is pleased to announce it served as advisor to Mabion S.A. in the out-licensing of Mabion CD20 (Rituximab Biosimilar) European rights to Mylan Ireland Limited.
Michael O’Sullivan, Managing Partner of Plexus Ventures’ London Office, commented: The biosimilar market is still young and the landscape is constantly changing, regulation is evolving and the commercial opportunity is not yet fully clear. Having worked alongside Mabion’s team for the last two years, I can safely state that the Company can count on a talented management team to become a strong player in this complex segment of the pharmaceutical market. I wish Maciej and his team all the best for their future endeavours.
Additional details regarding the transaction are included below:
Mabion signed supply and commercialization agreement with Mylan regarding Mabion CD20 for EU
On November 8th, Mabion S.A. signed a long-term development and commercialization agreement with Mylan Ireland a wholly owned subsidiary of Mylan N.V. – a leading global pharmaceutical company. The agreement gives Mylan exclusive rights to sell Mabion’s biosimilar of Mabthera/Rituximab (Mabion CD20) in all EU countries and non-EU Balkan states. Mylan will support Mabion in Mabion’s effort to secure approval of Mabion CD20 by the European Medicine Agency. Under the terms of the agreement and subject to certain conditions, Mylan will pay Mabion an upfront payment of US$10 million and additional milestone payments in the aggregate of up to US$35 million subject to filing and approval of marketing authorizations and commercial launch in key countries, as well as royalties based on annual net sales.
Maciej Wieczorek, PhD, CEO of Mabion, said: We’re excited to finalize this EU collaboration with a global player like Mylan, which has strong experience in generics and biosimilars. We are convinced that with our partner we will be able to ensure successful commercialization in EU after Mabion’s CD20 approval. This partnership will benefit patients in EU, Mabion and Mabion’s shareholders.