Coherus Biosciences acquires licence to commercialise IBI 305 ( bevacizumab biosimilar) in US and Canada from Innovent Biologics.
Coherus BioSciences announced on that it had entered into a licensing agreement with Chinese biopharmaceutical firm Innovent Biologics (Innovent) for its bevacizumab product, IBI 305. Under the terms of the agreement, Coherus will gain the rights to commercialize Innovent�s biosimilar candidate to Avastin (bevacizumab) in Canada and the US.
Coherus will pay up to $45 million in milestones, including an upfront payment, for its Avastin biosimilar upon achieving certain regulatory and commercialization goals, as well as customary double-digit royalty payments.
In June 2019, Innovent announced positive phase III results for IBI 305 from a large safety and efficacy study carried out in China . The application for approval of IBI 305 was filed for approval and was accepted by China�s regulatory agency, the National Medical Products Administration (NMPA), in January 2019 and subsequently granted priority review status.
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