Mylan and Revance Therapeutics, Inc. announced a global collaboration and license agreement for the development and commercialization of a proposed biosimilar to Botox (onabotulinumtoxinA). Botox is a neuromodulator approved for the treatment of multiple indications and usage in the United States with additional approvals globally.
“Bringing an affordable biosimilar version of Botox to commercialization will offer patients a safe alternative to this popular and highly effective treatment,” Rajiv Malik, Mylan president, said in a press statement. “Mylan is pleased to partner with Revance in the global collaboration, and share our scientific, regulatory and manufacturing capabilities and commercialization expertise.”
The companies plan to work together to gain regulatory approval in the development of the biosimilar, and commercialize this product in the U.S., Europe, and applicable markets throughout the rest of the world.
The collaboration includes an upfront payment of $25 million to Revance, with contingent milestone payments upon achievement of additional clinical, regulatory, and sales targets, plus sales royalties in all relevant markets.
(Source: Mylan N.V.)
Filed Under: Drug Discovery