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Pfenex, a San Diego-based biotech firm, will work with the generic drug firm Hospira to develop a biosimilar version of Genentech’s eye drug Lucentis. In 2014, sales of Lucentis were about $4 billion. Hospira will pay Pfenex $51 million up front and up to $291 million more in milestone payments. Pfenex’s PF582 monoclonal antibody is in clinical trials to assess its safety and tolerability, and to compare its pharmacokinetics and pharmacodynamics to Lucentis. Pfizer is in the process of acquiring Hospira in a $17 billion deal.
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