Last month, Biocad and Shanghai Pharma Holding (SPH) announced that they have established a joint venture, SPH-Biocad, to commercialize Biocad’s biopharmaceutical portfolio in China. According to the companies’ press releases, SPH-Biocad will begin by commercializing six of Biocad’s biopharmaceutical products, including three biosimilars and three innovative biologics. According to SPH, the three innovative biopharmaceuticals include an IL-17 antibody, a PD-1 antibody and a GITR antibody. SPH also states that the IL-17 antibody was launched in Russia this year and the PD-1 antibody is soon expected to receive marketing approval in Russia. The joint venture has $400 million in funding, with SPH holding 50.1% equity and Biocad holding the remaining 49.9% stake. At a September 17, 2019 signing ceremony for the joint venture, Biocad’s founder and CEO Dmitry Morozov remarked that it was “the largest international deal to date for Biocad” and that Biocad had “been looking for the right partner in China” for several years.
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