Avesthagen gets nod for phase 2 trial of drug

Bangalore, Jun 8 (UNI) Biotechnology major Avesthagen has received approval for the second phase trial of monoclonal antibody molecule- AntiTNF Alpha, an anti-inflammatory drug.

AntiTNF Alpha was the first of the eleven molecules under development by Avesthagen to develop a strong pipeline of biosimilars to address therapeutic segments such as cancer and anti-immune disorders.

The pilot manufacturing plant of Avesthagen coming up in the city would be ready by October one, Company Founder Managing Director Villoo Morawala Patell told newsmen today at the Bangalore Bio 2007, for which Avesthagen was the main event sponsor.

The market for anti-inflammatory drug in the world was around four billion US Dollar, while in India it was around 20 million US dollars.

Stating the company wanted to move fast and get to the market early, she said that contract manufacturing of the biosimilars would be undertaken in Malaysia where its subsidiary Avesta Biotherapeutic and Research Pvt Ltd (ABRPL) had signed up with Malaysian Biotechnology Corporation.

Similar tie ups were also being explored in India, while in Europe and the US, separate production plants would be set up with an investment of ten million US dollars each.

UNI