Sandoz enters agreement with Bio-Thera Solutions for Avastin biosimilar
Sandoz, a Novartis division, has entered into a commercialization agreement with Bio-Thera Solutions for biosimilar bevacizumab (BAT1706).
Bevacizumab is a recombinant humanized monoclonal IgG1 antibody that targets vascular endothelial growth factor, a key mediator of angiogenesis in cancer, and is used in combination with other treatments. It is the biosimilar of Genentech’s Avastin.
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Bio-Thera Solutions will maintain responsibility for development and manufacturing, Sandoz will have the right to commercialize the medicine upon approval in the United States, Europe, Canada and selected other countries. According to the terms of the agreement, Bio-Thera Solutions will receive an upfront and milestone payments and is entitled to receive profit share payments in the partnered territory.
“Bio-Thera Solutions is happy to enter this agreement with a global biosimilar leader to bring BAT1706, our bevacizumab biosimilar, to patients around the world,” said Dr. Shengfeng Li, CEO of Bio-Thera Solutions. “Biosimilars are an important aspect of Bio-Thera Solutions corporate strategy and a critical to increasing patient access to innovative products like bevacizumab.”