Biocon, Asia’s premier biotechnology company, has entered into an option agreement with Bristol-Myers Squibb for the company’s IN-105, an oral insulin drug candidate. Under the terms of agreement, Bristol-Myers Squibb will have the right to exercise an option to obtain an exclusive worldwide license to the program. Biocon will conduct clinical studies to further characterize IN-105’s clinical profile according to a pre-agreed development program up to the completion of Phase II.
Besides, if Bristol-Myers Squibb exercises its option to license IN-105 following the successful completion of the Phase II trial, Bristol-Myers Squibb will assume full responsibility for the development program, including all development and commercialization activities outside India.
Further, Biocon will receive a license fee in addition to potential regulatory and commercial milestone payments and royalties on commercial sales of IN-105 outside India. Biocon will retain exclusive rights to IN-105 in India.
Biocon is India’s premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Biocon produces anti-diabetic agents like Acarbose, Pioglitazone, Repaglinides and Rosiglitazone. In the biological segment it produces Insulin, Erythropoietin (EPO), Filgrastim (GCSF), Streptokinase and Monoclonal Antibodies.
