BUENOS AIRES – The Insud Group, an Argentine business conglomerate operating in 40 countries, announced investments of more than $80 million for clinical studies in Argentina on latest-generation medications.
The announcement was made on Tuesday at the Bio International Convention, a biotech fair being held in San Diego, California, and the studies will be conducted by the mAbxience company, which belongs to the group, Insud reported Wednesday.
The clinical trials will be carried out on two monoclonal antibodies: adalimumab – which is used to treat and prevent rheumatoid arthritis and various kinds of psoriasis – and palivizumab, designed for the preventive treatment of respiratory syncytial virus (RSV), one of the main causes of infant deaths, according to the World Health Organization.
The development of palivizumab is part of an agreement signed by the WHO, the Dutch Utrecht Excellence Center for Affordable Biotherapeutics and mAbxience.
When these monoclonal antibodies are authorized for use among the general public, after the clinical trials, they will be manufactured in the biotech medications plant that mAbxience has in the city of Munro in Buenos Aires province.
The event to announce the project was attended by Argentine Health Ministry chief of staff Enrique Chiantore and Argentine Medications Registration and Evaluation Directorate representative Valeria Palaviccini, along with officials with the Science, Technology and Productive Innovation Ministry and top figures within Grupo Insud.
The Bio International Convention is the world’s largest and most important biotech gathering, drawing more than 5,000 companies, academic institutions and organizations specializing in biotechnology as applied to health, agriculture and the environment in more than 60 countries.