DSM, Crucell Expand Percivia JV

DSM and Crucell have expanded the activities in their existing joint venture, the Percivia PER.C6 Development Center. The JV will transform from a development center into a full biopharmaceutical company for the development of PER.C6-based biobetter proteins and monoclonal antibodies as well as global licensing of the PER.C6 human cell line for production of third party monoclonal antibodies and other proteins. The JV was established in 2006 to further develop the PER.C6 cell line and provide turnkey solutions for the production of pharmaceutical proteins to licensees, utilizing the PER.C6 human cell line.

The joint venture, in which DSM and Crucell will each hold an equal equity share, will be known as Percivia LLC and will broaden its scope to focus on proprietary development of PER.C6-based biobetter proteins and monoclonal antibodies, initially to early clinical stages.

The board of Percivia will have equal representation from both investors, with former Biogen Idec chief executive officer Jim Mullen serving as chairman. Mr. Mullen remarked, “I look forward to working with the Percivia team to capitalize on the many opportunities in the fast growing market for biobetters; we aim to capture these by leveraging the advantages of the PER.C6 cell line platform.”

The JV will have its own business development team for commercializing both the PER.C6 platform for production of third party monoclonal antibodies and other proteins, and the proprietary developed biobetter proteins and monoclonal antibodies.

Although founded as a 50/50 joint venture between DSM and Crucell, Percivia LLC will engage with other partners when beneficial to the development of the product portfolio. The company will employ approximately 40 employees. Financial details of the joint venture will not be disclosed.