Bio-Thera IPO Raises $241m
Four-Fifths Of New Funds Earmarked For Development
Bio-Thera, which has just started selling China’s first adalimumab biosimilar rival to AbbVie’s top-selling arthritis treatment Humira, has raised $241m in an IPO on the Shanghai Stock Exchange.
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China’s Bio-Thera has struck a licensing deal with Biomm that will give the Brazilian company exclusive rights to market the BAT1706 bevacizumab biosimilar in its home market.
China’s Bio-Thera Solutions has ventured outside of its domestic market for the first time by filing an application for a biosimilar version of Avastin with the European Medicines Agency. The company has also revealed its timeline for a submission to the FDA.
With a number of next wave candidates in its pipeline, China’s Bio-Thera Solutions has licensed one of them, golimumab, to Russian player Pharmapark, ahead of a global Phase III trial later this year.