BioCentury
ARTICLE | Company News

Pharmstandard, Millhouse to gain stake in Russian biosimilar play

May 24, 2014 12:30 AM UTC

Pharmstandard OJSC (RTS:PHST; LSE:PHST) and Russian investment firm Millhouse LLC are acquiring a combined 70% stake in Russian biosimilar company Biocad CJSC (St. Petersburg, Russia). 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.

In April, 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 Extra, April 22). ...