BioFactura Announces Entry into Non-Exclusive License Agreement with Momenta Pharmaceuticals
BioFactura, Inc., an emerging Maryland biopharmaceutical research and manufacturing company, announced today entry into a non-exclusive license agreement with Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA), a biotechnology company specializing in the characterization and engineering of complex drugs, relating to one of the biosimilar product candidates that Momenta is developing. As part of this non-exclusive license agreement, BioFactura is developing a cell line using its NS0-based StableFastTM Biomanufacturing Platform, a proprietary system to rapidly generate stable cell lines that have the potential to lower cost, produce follow-on biologics and are single-use technology compatible. The companies are actively working together to further optimize productivity. Momenta has the right to obtain an exclusive research and commercial license to StableFastTM for clinical development and commercial manufacture of the undisclosed biosimilar product candidate.
BioFactura’s Chief Executive Officer and President, Darryl Sampey, said, “This agreement has the potential to benefit patients worldwide. We believe that this commitment by a proven leader in our industry is an endorsement of the value our StableFastTM Biomanufacturing Platform brings. We look forward to continuing to work with Momenta and the expansion of BioFactura’s efforts in biosimilars development.”
BioFactura’s Chairman of the Board and Chief Medical Officer, Dr. Jeffrey Hausfeld, said, “BioFactura believes that the establishment of this agreement between BioFactura and Momenta attests to the value of BioFactura’s proprietary technology in this space. Our organization is pleased to support the scientific and business development teams at Momenta.”