XB003 is the most advanced biosimilar candidate to Cimzia under development, representing approx. 25% of the competitive adjusted adressable market of Xbranes portfolio, it states. The reduction in Xbrane’s organization will reduce annual fixed costs by approximately SEK 120 million, it states further.

Closing of the transaction is subject to approval from Xbrane’s shareholders at an Extraordinary General Meeting to be held on 14 April 2025 as well as FDI approval. Certain shareholders of Xbrane, including Ashkan Pouya (via company holding) and a large international institution, as well as the board of directors and members of the leadership team, have undertaken to vote in favor of the proposed transaction at the EGM.

Xbrane will, with a more lean and flexible organization after the transaction, be better equipped to fully focus on realizing the full value of Ximluci and Xdivane with the ambition to generate meaningful royalties/profit sharing from these programs in the years to come.

“With this transaction, Xbrane is significantly strengthening its financial position and retains over 75% of the competitively adjusted addressable market of the portfolio including Ximluci (Lucentis biosimilar candidate) currently being approved and sold in Europe as well as Xdivane (Opdivo biosimilar candidate), recently partnered with Intas. Xbrane will, with a more lean and flexible organization after the transaction, be better equipped to fully focus on realizing the full value of Ximluci and Xdivane with the ambition to generate meaningful royalties/profit sharing from these programs in the years to come,” says Martin Åmark, CEO of Xbrane Biopharma.

Furthermore, we will establish a strong presence for Alvotech in the Swedish life science sector, which rivals the U.S. in this field.

“This acquisition will further expand Alvotech’s development capacity, allowing our commercial network of 19 leading commercial partners worldwide to continue increasing patient access to quality biologics,” says Robert Wessman, founder, chairman and CEO of Alvotech. “Furthermore, we will establish a strong presence for Alvotech in the Swedish life science sector, which rivals the U.S. in this field. It will allow Alvotech to attract new talent, create opportunities for scientific collaboration, and support our growth. This is yet another milestone for Alvotech in establishing us as a leader in biosimilars development and production globally.”