Alvotech Taps Equity Financing As Venture Bears Fruit In Saudi Arabia
Icelandic Firm Expects To Bring In North Of $135m Via Private Placement
Alvotech has once again raised more than $100m in financing, the second time in a matter of months, via a private placement involving what it expects to be previously issued treasury shares held by one of its subsidiaries.
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Alvotech has secured a US FDA reinspection of its Reykjavik plant in March, ahead of the agency’s April goal date for action on the firm’s pending application for a high-concentration, interchangeable adalimumab biosimilar rival to Humira.
Three firms across Europe and North Africa sign to sell Alvotech biosimilar candidates in 19 MENA countries as the Icelandic developer shifts focus from R&D to global commercialization.
Weeks after Coherus BioSciences put pen to paper on a deal to bring in Formycon’s FYB203 proposed biosimilar to Eylea (aflibercept), the candidate has shown positive efficacy and safety data, according to preliminary Phase III trial results.