Genovior signed an LOI with Velit for the development of Ranibizumab.

GENOVIOR BIOTECH of Taiwan and VELIT Biopharmaceuticals GMBH, of Austria have signed an Letter of Intent for the development of Ranibizumab (biosimilar to Lucentis). The intention of the two companies is to create an open consortium to finance the Clinical trial activity. GENOVIOR will purchase the Biologically Active Ingredients from VELIT and will manufacture in its plant the Finished Product in pre-filled syringe.