Coherus BioSciences Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced the Company has acquired exclusive rights from Bioeq IP AG, (“Bioeq”) a Swiss biopharmaceutical joint venture, to commercialize Bioeq’s biosimilar candidate to Lucentis® (ranibizumab) in the United States. Bioeq plans to file a Biologics License Application with the U.S. Food and Drug Administration in the fourth quarter of 2019 and Coherus plans to launch the product in 2021.
“This is the leading Lucentis® biosimilar product candidate, and this license pulls forward our previously anticipated Lucentis biosimilar launch in the U.S. by approximately two years,” said Denny Lanfear, President and CEO of Coherus. “We are extremely impressed with Bioeq’s development of this molecule, which included a successful Phase 3 study in wet age-related macular degeneration and robust molecular similarity data. On the commercial side, we see significant similarities in the oncology and ophthalmology therapeutic environments, and believe that our demonstrated proficiencies and infrastructure can be directly and successfully applied to this new area. In oncology, we have seen the broad adoption of UDENYCA®, and we look forward to repeating that in ophthalmology as we continue our mission to expand choice, improve access and lower healthcare costs. ”
According to the terms of the agreement, Coherus will make a mid-single digit million-dollar upfront payment as well as other regulatory and launch milestone payments. The companies will share profits approximately equally.
Source: Biospace
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