Biocad, Pharmstandard, Millhouse LLC deal

Pharmstandard and Russian investment firm Millhouse are acquiring a combined 70% stake in Russian biosimilar play Biocad. Pharmstandard will acquire a 20% stake, while Millhouse will acquire a 50% stake. Biocad founder and CEO Dmitri Morozov will own the remaining 30%. The parties could not be reached for details.

Last month, the Russian Ministry of Health approved Biocad's AcellBia (BCD-20), a biosimilar of autoimmune and cancer drug Rituxan rituximab. Biocad is also conducting trials of biosimilars of cancer drugs Avastin bevacizumab and Herceptin trastuzumab and has 10 more mAb-based biosimilar and original products in development (see BioCentury, April 28). ...