VTU Technology, Austria and Minapharm Pharmaceuticals S.A.E., Egypt enter into development and license agreement

GRAMBACH/GRAZ, Austria & CAIRO--(BUSINESS WIRE)--VTU Technology and Minapharm Pharmaceuticals announced today, that they have entered into a licensing agreement to develop a therapeutic, recombinant Human Serum Albumin (rHSA).

“We are delighted to collaborate with Minapharm in this important project. This agreement underlines the attractiveness of our Pichia pastoris protein expression platform and demonstrates VTU´s capabilities to leverage the high potential of our technology”

Under the terms of the agreement, VTU Technology grants Minapharm access to VTU´s Pichia pastoris protein expression technology for rHSA production.

VTU will apply its proven process for expression strain development and bioprocess optimization for biopharmaceuticals production. Minapharm, via its subsidiary, Rhein-Minapharm-Biogenetics, will carry out the pertinent process research & development, production and commercialization of the target therapeutic protein.

Minapharm will exclusively market the product in Egypt with options for other Middle Eastern countries, while VTU will have promotional rights in Rest of the World. Both companies will also share the revenue from the product. Further financial details were not disclosed.

“We are delighted to collaborate with Minapharm in this important project. This agreement underlines the attractiveness of our Pichia pastoris protein expression platform and demonstrates VTU´s capabilities to leverage the high potential of our technology”, said Dr. Thomas Purkarthofer, Head of Business Development of VTU Technology.

Frank Mueller, Senior Manager Biopharmaceutical Project Minapharm, added, “We very much look forward to a long and successful relationship with VTU. This event further substantiates Minapharm’s position at the regional forefront of research, development and marketing of innovative recombinant DNA products. This collaboration agreement with VTU offers a viable opportunity for Minapharm to further sustain its regional market leadership while fostering new models of cost-effective biotherapeutic innovation.”

About VTU Technology:

VTU Technology is a leading service provider for the fast track development of protein expression strains and protein production processes often yielding up to 20 g/L of secreted protein for a wide range of biologics and other proteins (e.g. serum proteins, cytokines, Fabs and antibody derived fragments, (HSA&Fc) fusion proteins, scaffolds, vaccines, enzymes).

VTU Technology´s powerful Pichia pastoris protein expression technology is based on its optimized gene design and cloning strategies, exclusive AOX1 promoter libraries & in-house expression platform and high-throughput screening & cultivation regime, combined with excellent know-how in fermentation and downstream process development.

Headquartered in Grambach/Graz, Austria, VTU Technology is a private company and a subsidiary of VTU Holding, an Austrian enterprise that combines several technology and engineering companies in chemistry, pharma & life science as well as power and fuel industry. www.vtu-technology.com/, www.linkedin.com/company/vtu-technology-gmbh

About Minapharm:

Minapharm Pharmaceuticals, headquartered in Cairo with its production facilities in the tenth of Ramadan, is among the leading prescription medicine companies in Egypt and the Middle East. The company is specialized in the manufacture and marketing of innovative pharmaceuticals and through its subsidiary Rhein-Minapharm-Biogenetics, in the research, development and manufacturing of biopharmaceuticals. Its biotech subsidiary is focussing on the core therapeutic areas of liver disease and thrombosis & haemostasis. With five therapeutic proteins already marketed and several in the pipeline, Minapharm’s competence lies in decreasing time to market without compromising ethical and safety standards.

By combining its expertise in pharmaceuticals and leadership in biopharmaceuticals Minapharm, along with its worldwide strategic alliances, contributes significantly to the quality of life of many people in the region. Minapharm employs a collective workforce of over 750 and is listed on the Cairo and Alexandria stock exchange (Symbol: MIPH). For more information on Minapharm and its products please visit www.minapharm.com/ and www.rhein-minapharm.com/.