MEDIA RELEASE PR1067
DM Corporation and ORF Genetics to Collaborate on Protein Drugs
REYKJAVIK, Iceland and KOLHAPUR, India, September 2/PRNewswire-AsiaNet/ --
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An MOU Signed During Official Visit of Mrs. Preneet Kau, Indian
Minister of State for External Affairs, to Iceland
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Aiming for Production, Marketing and Sales of Protein Drugs on the
International Market
The Indian company DM Corporation and ORF Genetics of Iceland
are to collaborate on the development, production and marketing of protein
drugs. Mr. Dilip Mohite, Chairman and Managing Director of DM Corporation and
Björn Örvar, CEO of ORF Genetics, signed an MOU to this effect today, in the
presence of Mrs. Preneet Kaur, the Indian Minister of State for External
Affairs and Mr. Össur Skarphédinsson, Foreign Minister of Iceland.
The MOU states that the companies will form a joint venture to
develop and market human recombinant therapeutic proteins and biosimilars. DM
Corporation will bring to the collaboration expertise in management of
pre-clinical research, clinical development and marketing. ORF Genetics will
supply its expertise in plant genetics and protein biochemistry, including
its proprietary Orfeus(TM) protein production system in genetically modified
barley. The Orfeus (TM) platform was developed to produce high-quality
recombinant proteins on a large scale, bypassing production in E. coli, yeast
or mammalian cells.
"In India there is a large, developed and growing market for
pharmaceuticals and great expertise on preclinical and clinical work.
Biopharma is a fast growing sector of the pharmaceutical industry and joining
forces with ORF Genetics, enables us to make a joint, strong foray into this
exciting field," said Mr. Dilip Mohite, chairman and managing director of DM
Corporation.
"We are very pleased to be teaming up with DM Corporation on
this project. Our portfolio of biorisk-free ISOkine(TM) growth factors and
cytokines is already used in various types of medical research around the
world. Working with this qualified partner in India represents a great
opportunity for us to expand and modify our unique Orfeus system for the
production of protein drugs, " said Björn Örvar, CEO of ORF Genetics.
About DM Corporation
DM Corporation is a company based in Kolhapur, India. The
company is one of the highest rated companies by the state and is the
preferred company in the infrastructure development segment. It has also
created a place in the power generation business and now intends to expand
its portfolio further - predominantly in Life Sciences & Healthcare sector
and Education. DM Corporation has a clear understanding that all these areas
are knowledge and technology driven and can develop new ways of working and
new products - which in turn would help consolidate the company's position in
existing markets and to grow in new ones.
About ORF Genetics
ORF Genetics Ltd. is a privately owned company established in
2001 in Iceland. It is committed to economically viable and enabling
solutions for the production of recombinant proteins, such as growth factors
and cytokines, using its proprietary Orfeus(TM) expression system. The
company caters to the medical research community and the cell culture media
and diagnostics market with its products. ORF Genetics received the Icelandic
Innovation Award in 2008.
SOURCE: ORF Genetics and DM Corporation
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