Alvotech Acquires Xbrane Operations
Alvotech, a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, announced the acquisition of Xbrane Biopharma AB’s R&D operations and a biosimilar candidate, further expanding Alvotech’s development capabilities, and establishing a footprint in the Swedish life science sector
The Acquisition includes Xbrane’s R&D operations based in Campus Solna, at the Karolinska Institute outside Stockholm, Sweden, as well as the biosimilar candidate XB 003, referencing Cimzia (certolizumab pegol). Xbrane retains other pre-clinical assets and will focus on the commercialization of this portfolio. Alvotech also announced that it intends to explore the possibility of a listing of Swedish Depository Receipts (SDR), equity share equivalents, on Nasdaq Stockholm, in the future
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