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Therapeutic monoclonal antibodies (MAbs) are biopharmaceuticals prescribed in oncology, rheumatology, and for other chronic and autoimmune diseases. Over the last decade, the demand for MAbs grew significantly in developing countries like Brazil, concomitant to the restructuring of the global biopharmaceutical industry, opening windows of opportunities for catching-up economies. This paper aims to analyze the capacity of a public policy, the so-called Production Development Partnership Program (PDPP), to encourage the generation of national capabilities to the local biopharmaceutical industry and technological upgrading in the biopharmaceutical sector in Brazil. It is a case study supported by qualitative data from twenty-three interviews. By focusing on technology transfer processes rather than on more complex strategies of technological learning and upgrading in domestic agents, the impact of PDPP has been marginal. We draw insights from this empirical appraisal to outline some lessons and challenges involved in the implementation of technology-upgrading policies in developing countries. [ABSTRACT FROM AUTHOR]