Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) has signed a memorandum of understanding (MoU) with China-based Aurisco Pharma to explore strategic cooperation in oligonucleotide and other complex pharmaceutical products.
The cooperation initially focuses on Inclisiran and aims to establish a broader platform for potential additional products and technologies, including pharmaceutical development, technology transfer, and local manufacturing in Saudi Arabia.
The partnership is intended to strengthen Avalon Pharma’s capabilities in advanced pharmaceutical therapies and support the localization of innovative medicines in the Kingdom, particularly treatments that target disease mechanisms at the RNA level.
Aurisco Pharma specializes in oligonucleotide active pharmaceutical ingredient (API) manufacturing, formulation process development, analytical method development, and technology transfer.
No contract value has been determined at this stage, as the commercial and financial terms will be negotiated and finalized under subsequent definitive agreements.
In September, Avalon Pharma extended a Sharia-compliant banking facility agreement with Banque Saudi Fransi totaling SAR 104 million.
