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.