Alvotech’s board of directors and executive management believe that now is an opportune time to broaden the company’s investor base and increase visibility among Nordic and European institutional investors, following the company’s acquisition of Xbrane Biopharma’s R&D operations, it states.

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Xbrane in agreement to sell biosimilar candidate and parts of its organization to Alvotech

Xbrane Biopharma has entered into an agreement to sell XB003 (biosimilar candidate to Cimzia) and parts of its organization, including approximately 40 employees and laboratory equipment, to Alvotech for a total consideration of approximately SEK 275 million.

Nasdaq Stockholm has assessed that Alvotech meets the applicable listing requirements, and that Nasdaq Stockholm will approve an application for admission to trading of the company’s SDRs, subject to customary conditions, and now Alvotech publishes a prospectus for the offering of SDRs. The first day of trading on Nasdaq Stockholm is expected to be May 19, 2025.

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Global health & Local efforts: Opening up the market of biosimilars

“To be able to control costs and serve patients, the world will need biosimilars,” says Róbert Wessman, Icelandic businessman and entrepreneur.

“The listing on Nasdaq Stockholm affirms our ambition in biosimilars development and manufacturing globally. It is also a natural step following our recent acquisition of Xbrane’s R&D operations, which establishes a strong presence for Alvotech in the Swedish life science industry. The listing is expected to further increase Alvotech’s recognition in the Nordic and European markets and broaden our potential shareholder base. We believe investors in Sweden, and more broadly in the Nordics and continental Europe, looking for investment opportunities in biotech will find Alvotech highly attractive, with a strong and differentiated value proposition,” says Róbert Wessman, Founder, Chairman and CEO of Alvotech.