DM Corporation and ORF Genetics to collaborate on protein drugs

An MOU signed during official visit of Mrs. Preneet Kau, Indian Minister of State for External Affairs, to Iceland

Aiming for production, marketing and sales of protein drugs on the international market

Reykjavik Iceland, Kolhapur India, 1 September 2010 - 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 Skarphéðinsson, 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™ protein production system in genetically modified barley. The Orfeus ™ 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™ 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.

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