Biochallenge's decision on Viropro MOU in Sept

Canadian drugmaker Viropro has updated investors on the binding memorandum of understanding it signed with BioChallenge, a privately-held pharmaceutical company based in Tunis, Tunisia, (Marketletter June 26), a deal which Viropro hopes will help generate its first revenues in the near future.

The preliminary feasibility study of the project, which centers on the joint development and production of therapeutic proteins for undisclosed targets, was recently completed and transmitted to Biochallenge. The Tunisian firm is analyzing the feasibility study which, according to Viropro, "clearly demonstrates the high level of profitability of the project." The management teams of both companies are in the last steps of planning formal scientific and financial evaluations to be presented by Viropro to Biochallenge's investors later this month.

Biochallenge's president, Mahjoub Ameur, said: "we are in the last stretch of the fund raising campaign. This is a very high-profile project for Tunisia and many other African countries since it will be the first implementation of a manufacturing facility for the production of industrial biological therapeutic proteins in that part of the world," allowing greater drug accessibility to the local population while ensuring an attractive return on investment.