Under the agreement, contract prices between the companies are agreed over the next five years, It is Materia Medica's intention to sign a minimum of three further GMP manufacturing contracts with Angel over the period with a potential cumulative value of over £4.5m.

Gordon Sherriff, COO of Angel, said: “Our relationship with Materia Medica continues to grow with this pricing agreement and we are delighted that they have committed to working with Angel for a further five years. The agreement provides both companies with predictability for the cost and value of the programs expected to come.

“For Angel this permits accurate planning for growth and for Materia Medica it provides cost of goods stability, essential for a pharma company entering regulated markets. This is a clear reflection of Materia Medica's confidence in Angel's manufacturing and regulatory capabilities in the advanced biologics arena.”

Sergey Tarasov, of Materia Medica Holding R&D department, said: "We are very pleased to sign a 5 year pricing agreement with Angel. Angel provides a fully integrated service offering with the necessary manufacturing and regulatory experience to allow licensing of our products in regulated markets.

“This agreement enhances our working relationship by providing Materia Medica with the predictable cost of goods we require to progress our pipeline of products to market. As Materia Medica's established manufacturer for our antibody based products we look forward to working with Angel on future projects.”

Will the deal benefit the firms?

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