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Samsung Biologics and TG Therapeutics will continue working together as they just renewed their drug manufacturing deal. The contract will allow the South Korean biotechnology firm to produce more drugs for the US-based healthcare company.
The expansion of Samsung Biologics and TG Therapeutics CMO deal
As per The Korea Times, the two companies agreed to sign another deal for the supply of Ublituximab, an investigational monoclonal antibody drug for the treatment of multiple sclerosis. The new contract manufacturing organization (CMO) deal is worth $50.3 million, which is more than double of their previous deal that was only priced at $22.4 million.
This is Samsung Biologics and TG Therapeutics fourth partnership since they teamed up in February 2018. All of their first three contracts were also for the production and supply of Ublituximab.
“We are very glad to be able to flexibly accommodate our client’s expanded needs through our facilities,” Samsung Biologics chief executive officer, John Rim, said in a press release. “By supporting TG Therapeutics in this partnership, we are contributing to bringing needed treatments to patients around the world and getting a step closer to our vision of bringing about a better life for humanity.”
Looking forward to the success of the Ublituximab drug
TG Therapeutics has been developing Ublituximab for a while now, and the company already requested for biologics license by submitting an application to the U.S. Food and Drug Administration (FDA). The said drug is in the third phase of testing, so it is crucial for the license to be approved.
In any case, Samsung Biologics mainly provides manufacturing, development, and testing services to its clients. The company helps them meet the demand through CMO deals, and as it continues to receive new contracts, it is now building its fourth manufacturing plant in Incheon, and so far, this will be the Samsung Biologics’ largest facility.
Meanwhile, once TG Therapeutics finally received its license and its drug development for Ublituximab is successful, Samsung Biologics is reportedly guaranteed a minimum contract worth $278.1 million. This price can potentially go up to $345.6 million if the American healthcare firm makes more drugs.
"Samsung is the global leader in biologics manufacturing and we are happy to have them as our partner as we look forward to the potential commercialization of Ublituximab across both oncology and autoimmune indications," Michael S. Weiss, TG Therapeutics CEO, said.
