Guangzhou-based Bio-Thera Solutions Ltd has announced a licensing agreement with Hungary’s Gedeon Richter Plc for BAT1706, its biosimilar version of Roche’s (SWX: RO) Avastin (bevacizumab). Under the agreement, Gedeon Richter will obtain exclusive commercialization rights for the drug in the European Union (EU), the UK, Switzerland, Australia, and other European countries. The deal includes an upfront payment of USD 8.5 million, potential milestone payments of up to USD 101.5 million, and a double-digit net sales commission for Bio-Thera.
BAT1706, developed in accordance with biosimilar development regulations in China, the US, and the EU, is currently awaiting regulatory decisions in the US and EU. Bio-Thera previously granted commercial rights for the drug to Biomm S.A. for the Brazilian market in June of the previous year. – Flcube.com
