Watson inks deal with Itero
MORRISTOWN, N.J. Watson Pharmaceuticals will work with a venture-backed firm to develop a biosimilar treatment for female infertility, the generic drug maker said Thursday.
Watson said it had signed a deal with Itero Biopharmaceuticals to develop and commercialize Itero’s recombinant follicle stimulating hormone, or rFSH, currently in preclinical development. Watson will pay Itero licensing fees and milestone payments, though the amounts were not disclosed.
“Acquiring the rights to Itero’s rFSH product represents our first in-licensing of a biosimilar development project and demonstrates the execution of our plan to build a pipeline of biosimilar products through both internal development and external partnering with high-quality biopharmaceutical companies such as Itero,” Watson president and CEO Paul Bisaro said. “This project will capitalize on the world-class biologics capabilities of our Eden Biodesign group and represents a substantial step in Watson’s goal to build a significant position in the global biopharmaceutical marketplace.”