The privately owned biotechnology firm XBiotech has recently announced that it plans to expand its areas of business and will now be entering the biosimilar arena. XBiotech is a company we’ve reported on several times recently, both in relation to their plans to build a massive biotech facility in East Austin and their Xilonix Treatment, which is being touted as a promising alternative to chemotherapy. Per Parexel, biosimilar is “the term that is used to describe medicines that are the equivalent of generic drugs, but for protein-based, biologic therapies.”
XBiotech’s entrée into the biosimilar world will include developing therapies involving antibodies for use in both anti-inflammatory aids and oncology. According to a recent release on PR Newswire:
Entering into the biosimilar space will complete what XBiotech considers is its strategic portfolio of therapeutic antibodies. The Company believes that its manufacturing technology will lower production costs for biological products by an order of magnitude compared to other developers of generic biologics. Moreover, the Company claims that the flexibility and short lead-times needed to build production capacity is ideally suited for addressing the uncertain market conditions for biosimilars. The Company aims to enter into clinical trials with its first biosimilar product within the next year and launch into the market place by 2017.
According to XBiotech’s President and CEO, the company’s ability to produce antibodies at low costs will help with their goal to “make XBiotech the most competitive provider of biosimilar products in the world…this is a logical next step to round out our antibody assets and fully exploit XBiotech’s antibody commercialization platform.” The biosimilar antibodies market is a big one, and in the years to come many different firms are slated to make a play for a piece of the pie, XBiotech being just one.