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Puerto Rico Economic Development Bank grants US$3.85M to Biosimilar Sciences and OcyonBio

Aug 9, 2023

News is my Business reported that the Puerto Rico Economic Development Bank (BDE) has approved US$3.85M in funding for Biosimilar Sciences PR LL and Ocyon Bio PR Inc. to facilitate the purchase of specialised biotechnology equipment. This funding comes from the US Treasury’s State Small Business Credit Initiative and represents BDE’s first partnership with a private financial entity, working alongside the Jesús Obrero Credit Union.  Biosimilar and OcyonBio are developing a biosimilar to AbbVie’s Humira® (adalimumab).

On 14 March 2022 OcyonBio and Biosimilar Solutions announced an agreement to create a contract biosimilars development/manufacturing organisation.