Pfenex Inc. and Agila Biotech Private Limited Announce Joint Venture to Develop Biosimilar Products for the Global Market

   Pfenex Inc. and Agila Biotech Private Limited Announce Joint Venture to
              Develop Biosimilar Products for the Global Market

PR Newswire

SAN DIEGO and BANGALORE, India, April 16, 2013

SAN DIEGO and BANGALORE, India, April 16, 2013 /PRNewswire/ -- Pfenex Inc. and
Agila Biotech Private Limited, a subsidiary of Strides Arcolab Limited today
announced that they have entered into a joint venture to develop, manufacture
and commercialize an initial pipeline of six biosimilar products for the
global market. Operating as a JV, wherein both parties will equally share in
decision making regarding product development and commercialization, Agila
Biotech will be a 51% equity stakeholder. This multi-product joint venture
combines Pfenex's industry-leading expertise in strain engineering and process
development with Agila Biotech's biologics manufacturing and clinical
development excellence. The lead product for the joint venture is Interferon
beta-1b, a biosimilar to Betaseron®, indicated for relapsing-remitting and
secondary-progressive forms of multiple sclerosis, commencing human clinical
trials by Q4 2013. Under the terms of the agreement, Pfenex will assume
primary responsibility for development of an optimized production strain,
process and analytical package for each product, while Agila Biotech will be
responsible for pre-clinical and Phase 1 development, as well as cGMP
manufacturing. The joint venture will then progress the products through
Phase 3 and into commercialization. Manufacture of the collaboration products
will be carried out at Agila Biotech's state-of-the-art manufacturing facility
being built with Bio-XCell at Nusajaya, Johor, Malaysia – a 160 acre site
comprised of customized biotech facilities.

"One of the global challenges for the future of healthcare is to develop and
produce products within the confines of a constrained cost environment," said
Dr. Bertrand Liang, CEO at Pfenex. "Biosimilars are and will play an
increasingly important role in patient disease management. This venture
between Pfenex and Agila Biotech will allow us to leverage our infrastructure
for the development of safe, reliable and cost-effective therapies for
patients to address unmet medical needs all over the world."

"Successful foray into the biologics space for companies like Agila Biotech
would hinge not only on building a state-of-the-art infrastructure and strong
technical foundation, but also on creative partnerships such as the one that
Agila Biotech has entered into with Pfenex. This will allow us to not only
leverage time and cost advantage of developing products in India and Malaysia,
but also serve as a gateway to a vast region in South Asia, South-East Asia
and the OIC region currently underserved as a result of the lack of high
quality, cost effective biologics," said Dr. Anand Iyer, CEO at Agila
Biotech. Dr. Iyer also noted that itsfacility in Malaysia represents a
strategic move to bolster Agila Biotech's manufacturing presence in the region
and tap into unmet global demand for quality biologics at affordable prices.

About Agila Biotech Private Limited (India) / Strides Arcolab Limited:

Agila Biotech Private Limited, India is a wholly owned subsidiary of Strides
Acrolab Limited (Strides).  Strides Arcolab, listed on the Bombay Stock
Exchange Limited (532531) and National Stock Exchange of India Limited (STAR),
is a global pharmaceutical company headquartered in Bangalore, India that
develops and manufactures a wide range of pharmaceutical products. The
company has 14 manufacturing facilities across 6 countries with presence in
more than 75 countries in developed and emerging markets. Manufacturing is
ably supported by a 350-scientist strong global R&D Centre located in
Bangalore. Additional information is available at Strides' website at
www.stridesarco.com

About Pfenex Inc.: Pfenex Inc. is a biotechnology company developing
biosimilars and innovative vaccines to address unmet and growing global
healthcare needs. Utilizing the company's core technology, Pfenex Expression
Technology™ for recombinant protein expression, Pfenex is able to rapidly
develop and produce high quality therapeutics. In addition, Pfenex also
produces and markets research proteins and reagent proteins for the research
and drug development community through its Reagent Proteins division. For
more information please visit www.pfenex.com

SOURCE Pfenex Inc.

Contact: Cassidy Brady, Pfenex Inc., Sr. Marketing Manager, Pfenex Inc.,
858-344-7207, cbrady@pfenex.com; or Dr Anand Iyer, Agila Biotech Pvt. Ltd.,
CEO, Agila Biotech Pvt. Ltd., +91-80-6784 0105/ anand.iyer@stridesarco.com ,
or Mr Kannan N., +91-9845054745, kannan.n@stridesarco.com
 
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