Xbrane announces ambition to generate positive operating cash flow monthly by late 2023/early 2024 and to initiate one new biosimilar development program per annum.
Xbrane is on track towards regulatory submission for Xlucane (Lucentis biosimilar candidate) in EU Q3 and US Q4 2021, the company states in a press release. At the same time the company has set the foundation for further growth through establishing a new biotech lab at Campus Solna, built a development team of 50 professionals and broadened its high yield/low-cost platform technology, it states.
One new biosimilar development program per year
Leveraging the foundation established, Xbrane now set the ambition to initiate one new biosimilar development program per year, it states further in the press release. There are multiple attractive opportunities to target – biologics with patent expiry 2028-2030 and estimated sales of +30bn euro in 2020, the company states. Leveraging its business model to partner at pre-clinical development stage on the back of comparative analytical data Xbrane expects to get meaningful co-funding of the clinical development. Based on this business model and expected net-income generated from Xlucane, Xbrane has the ambition to generate positive operating cash flow monthly by late 2023/early 2024.
Read more: Xbrane establishes new lab at Campus Solna
Photo of Martin Åmark, CEO Xbrane