Cobra Biomanufacturing has extended its recent manufacturing agreement with South Korea-based
ViroMed Co. and the two companies plan to form a joint venture. The extended collaboration includes a long term-research, development and technical consultancy agreement for all ViroMed products. The agreement will provide ViroMed with guaranteed process development and manufacturing resources.
Additionally, the companies have signed a memorandum of understanding to explore the potential of establishing a joint venture commercial scale biomanufacturing company that would enable the JV Company to manufacture ViroMed products for commercial supply, at the JV's new facilities.
These agreements extend the manufacturing collaboration announced in June 2008, under which Cobrabio will manufacture ViroMed’s plasmid DNA therapeutic, VM206RY, for the treatment of tumours expressing Her2/neu.
Simon Saxby, chief executive officer of Cobra, remarked, “The further development of our partnership with ViroMed is a very positive step forward for Cobrabio, providing a strong medium- to long-term business forecast. Having worked closely with ViroMed to develop a successful manufacturing process for its plasmid DNA product we are delighted to enter into a long-term agreement, with a broad scope that will bring significant benefits to both parties.”
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