Alvotech (NASDAQ: ALVO), a Reykjavik, Iceland-based biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, acquired Xbrane’s R&D operations and the biosimilar candidate XB003.
The purchase price for the acquisition was approximately SEK 275M (approximately USD 27M) and will be payable as SEK 102.2M in cash at closing and by assumption of SEK 172.8 million in debt and accounts payable.
The acquisition will further expand Alvotech’s development capabilities, establishing a footprint in the Swedish life science sector. It will also include Xbrane’s R&D operations based in Campus Solna, at the Karolinska Institute outside Stockholm, Sweden, as well as the biosimilar candidate XB003, referencing Cimzia® (certolizumab pegol).
Xbrane is a Stockholm, Sewden-based biopharmaceutical company specialized in high demand biosimilars and long acting injectables.
Founded by Robert Wessman, Alvotech is a biotech company focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Two biosimilars, to Humira® (adalimumab) and Stelara® (ustekinumab) are already approved and marketed in multiple global markets. The current development pipeline includes nine disclosed biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer.
Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East.
FinSMEs
20/03/2025