Tehran, Iran – October 26, 2016 – Inno Bio Ventures Sdn. Bhd. and Aryogen Pharmed Co. receives MATRADE Award for International Partnership from Malaysia External Trade Development Corporation (MATRADE) at a ceremony in conjunction with Trade and Investment Mission (TIM) lead by Yang Berhormat Dato’ Sri Mustapa Mohamed, Minister of International Trade and Industry (MITI) held in Tehran, Iran today.
Datuk Dr. Ahmed Tasir Lope Pihie, Chairman of Joint Venture Companies of Inno Bio Ventures Sdn. Bhd. and Aryogen Pharmed Co. and Dr. Fereidoun Mahboudi, Chairman of Aryogen Pharmed Co., received the award from Yang Berhormat Minister.
“We are honoured to receive this recognition. I would like to thank MATRADE for recognising our efforts to spur the biosimilar development through strategic partnership and exchange of technology between Inno Bio Ventures Sdn Bhd and Aryogen Pharmed Co.,” said Ahmed Tasir.
“We hope the government of Malaysia will continue to support our business venture with Aryogen as we had progress so much and we are only a few steps away to register and market the products in Malaysia and ASEAN region.” he added.
The strategic business partnership between Inno Bio and Aryogen was inked in December 2014 for the development, production and commercialisation of four biosimilar drugs:
I. Rituximab, for the treatment of leukaemia
II. Trastuzumab, for the treatment of breast cancer
III. Factor VII, for the treatment of blood disorders
IV. Etanercept, for the treatment of rheumatoid arthritis
The drugs selected under this partnership are proven successful in clinical development and had been registered and marketed by Aryogen in several countries. This partnership will provide series of technology transfers, cGMP manufacturing in the existing Inno Bio biopharmaceutical facility in Putra Nilai, Malaysia.
In a separate occasion, a ‘Symbolic Handover of Two Cell Lines i.e Rituximab and Trastuzumab’ to mark the successful technology transfer process between Inno Bio and Aryogen is held in the presence of Yang Berhormat Dato’ Sri Mustapa Mohamed. Inno Bio embarks on developing biosimilars for the Malaysian, ASEAN market and also to other D8 countries.
MATRADE Award for International Partnership is aimed at giving recognition to companies which demonstrates excellence in strategic collaborations and partnership with foreign companies. This initiative should continue to open more opportunities for Malaysian companies to expand their capabilities and technology to international market. The award ceremony is part of MITI’s trade and investment mission to Tehran, Iran from 21st to 25th October 2016.