[Ip-health] Egypt HCV merger

[Sean Flynn]

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This is an interesting development for those watching the HCV treatment
story.



Egypt is where one in five people have HCV. Polytherics is developing a
new version of peg interferon. Minapharm is the supplier of a peg
interferon product that competes with the MNC patent holders.



-Sean Flynn



PolyTherics and Minapharm Pharmaceuticals sign Collaboration Agreement
to create enhanced biopharmaceuticals



PolyTherics Limited ("PolyTherics"), the biopharmaceuticals company
dedicated to precision engineering of proteins to improve their
pharmacokinetic properties, today announced the initiation of a research
collaboration agreement with Minapharm Pharmaceuticals the leading
Egyptian pharmaceutical company. PolyTherics will apply its proprietary
drug modification technologies to a target protein of commercial
interest to Minapharm. Minapharm has an option to license the
collaboration intellectual property for the development and
commercialisation of novel products. Minapharm also receives an option
to submit further target proteins of interest to future collaborations
with PolyTherics.



PolyTherics receives an upfront licence fee and further payments on
achievement of defined programme milestones. Details of the agreement
terms were not disclosed.



PolyTherics has substantial expertise in the targeted modification of
biologic compounds for therapeutic application. Through its platform of
site specific poly(ethylene glycol) (PEG)-based technologies, the
Company optimises the performance of biologics administered as
parenteral drugs.



Minapharm has more than forty years of experience in the pharmaceutical
industry and is a regional leader in Egypt, providing in addition
innovative high quality biopharmaceuticals to patients in developing
countries through its subsidiary Rhein Minapharm Biogenetics.



Dr Keith Powell, Chief Executive Officer of PolyTherics, said: "Through
multiple partnerships, we are uncovering the considerable development
potential of our PEGylation technologies to create biotherapeutic
product candidates. We are looking forward to collaborating with a
company with such a solid reputation in innovative pharmaceuticals
development as Minapharm."



Dr Wafik El Bardissi, Chief Executive Officer of Minapharm, said: "A
potential success of this research collaboration agreement with
PolyTherics offers a viable  opportunity for Minapharm to further
sustain its regional market leadership while  fostering new models of
cost-effective biotherapeutic innovation."





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14 September 2009