Pfenex Teams With Agila for Joint Venture on Global Drug CommercializationMonday, April 22, 2013
San Diego-based Pfenex Inc. has teamed up with Bangalore, India-based Agila Biotech to develop and globally commercialize six drugs, including one to treat multiple sclerosis.
Financial terms were not disclosed for the deal. Operating as a joint venture, both parties will share equally in decision making, but Agila Biotech will hold a 51 percent stake in the venture.
Pfenex is a privately held San Diego pharmaceutical company most notable for its $19 million government contract to develop a vaccine for Anthrax. Agila Biotech is a subsidiary of Indian drugmaker Strides Arcolab Ltd., which had $295 million in annual sales.
— SDBJ Staff Report