"Biocon is pleased with the development progress of itolizumab achieved by Equillium so far and has agreed to include Australia and New Zealand within the scope of the licensing agreement," Biocon CEO and Joint MD Siddharth Mittal said.
Biocon had partnered with Equillium in 2017, for itolizumab, to develop it for a wide range of autoimmune disorders, the statement said.
"We are pleased to deepen our relationship with Biocon by expanding our licensing agreement for itolizumab," Equillium President and Chief Business Officer Bruce Steel said.
Itolizumab is a novel first-in-class humanized anti-CD6 monoclonal antibody, which Biocon developed and launched in India under the brand name Alzumab to treat moderate to severe plaque psoriasis in 2013, the statement said.
Shares of Biocon Ltd closed at Rs 293 per scrip on BSE, up 0.90 per cent from its previous close.