Biotest Pharmaceuticals Announces Strategic Long-Term Manufacturing, Supply and License Agreement
BOCA RATON, Fla., Jan. 10, 2013 /PRNewswire/ -- Biotest Pharmaceuticals Corp. (BPC), a wholly owned U.S. subsidiary of Biotest AG (Dreieich, Germany), today announced it has entered into a strategic long-term manufacturing, supply, and license agreement with ADMA Biologics, Inc. (ADMA).
Under the terms of the agreement, ADMA has agreed to purchase exclusively from BPC its worldwide requirements of RSV (Respiratory Syncytial Virus) Immune Globulin manufactured from human plasma containing RSV antibodies. The initial term of the agreement is for ten years. BPC will receive payment for manufacturing services provided under the agreement as well as a percentage royalty on ADMA's product revenues up to a specified maximum. In exchange, BPC has agreed to provide manufacturing services and granted ADMA a license to use BPC's proprietary fractionation and purification manufacturing process for Intravenous Immune Globulin.
"We are very pleased to partner with ADMA on their lead product candidate. Our ability to provide specialized contract manufacturing services will enable us to diversify our future revenue sources," stated Jordan Siegel, Chief Executive Officer of BPC.
About Biotest Pharmaceuticals Corporation
Biotest Pharmaceuticals Corporation, a wholly owned subsidiary of Biotest AG, researches, develops and manufactures biotherapeutic products with a specialization in immunology and hematology. BPC is a leader in the collection of source plasma and is currently involved in the development of plasma protein products and various hyperimmune (IG) products. The Company owns and manages twelve plasmapherisis centers across the United States and a state-of-the-art manufacturing facility in Boca Raton, Florida. The Company employs more than 700 people in the U.S.
About Biotest AG
Biotest AG is a provider of pharmaceutical and biotherapeutic drugs. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialized primarily in the areas of application of clinical immunology, hematology and intensive medicine. In its Plasma Protein segment, Biotest develops and markets immunoglobulins, coagulation factors and albumins based on human blood plasma. These are used for diseases of the immune and hematopoietic systems. In the Biotherapeutic segment, Biotest researches into the clinical development of monoclonal antibodies, including in the indications of rheumatoid arthritis and cancer of plasma cells. Biotest has more than 1.600 employees worldwide. The preference shares of Biotest AG are listed in the SDAX on the Frankfurt stock exchange.
This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so.
SOURCE Biotest Pharmaceuticals Corporation