Benzinga | Dec 9, 2021 09:44PM EST

Prestige BioPharma and Dr. Reddy's Announced Partnership to Commercialize Trastuzumab Biosimilar in Select Countries in Latin America and Southeast Asia

Prestige BioPharma Ltd. (KRX: 950210) and Dr. Reddy's Laboratories Ltd. (NYSE:RDY) announced that the two companies have entered into a binding agreement for an exclusive partnership for the supply and commercialization of Prestige BioPharma's proposed trastuzumab biosimilar in select countries in Latin America and Southeast Asia.

Prestige BioPharma's trastuzumab (HD201) is a proposed biosimilar to Roche's Herceptin(r) and can be prescribed for the treatment of HER2 positive breast and metastatic gastric cancer. Trastuzumab targets human epidermal growth factor 2 (HER2). In some types of cancer cells, HER2 is overexpressed and stimulates the growth of the cancer cells. Trastuzumab works by selectively binding to HER2, thereby stopping the growth of these cancer cells.

The license agreement grants Dr. Reddy's the exclusive rights to commercialize the proposed biosimilar in select countries in Latin America and Southeast Asia. Under this partnership, Prestige BioPharma will be responsible for sustainable commercial supply of HD201 from its manufacturing facilities in Osong, South Korea, while Dr. Reddy's will be responsible for local registrations, marketing and sales in the licensed territories.