Momenta prioritizes biosimilar developments with Mylan and restructures.

Momenta Pharmaceuticals, Inc. announced the completion of its strategic review aimed at reducing costs of biosimilar development and focusing its resources on its pipeline of novel drug candidates for immune-mediated diseases

As a result, Momenta plans to advance two late-stage biosimilar assets, M 923, its wholly-owned proposed biosimilar to Humira and M 710, its proposed biosimilar to Eylea being developed in collaboration with Mylan. Momenta expects to file a biologics license application (BLA) for M 923 with the FDA and plans to work to identify a commercialization partner for this product candidate. The Company has initiated discussions with its collaboration partner, Mylan, to exit its participation in the development of its other five biosimilar programs including M 834, a proposed biosimilar to Orencia, and intends to focus solely on the continued development of M 710.

Additionally, the Company has approved a plan to restructure its executive team and reduce its workforce by approximately 50 percent.