Following its deal with Hikma just two weeks ago, Bio-Thera Solutions is selling more rights to its biosimilar products to speed up market entry overseas.
In a $155 million deal with Sandoz on Sep. 8, Bio-Thera will grant the commercialization rights to BAT1706 (bevacizumab) in the U.S., Europe, Canada and selected other countries. The Chinese firm will receive an upfront and milestone payments and is entitled to receive profit share payments in the partnered territory.
BAT1706 is a biosimilar candidate referencing Roche’s Avastin. In January, the FDA accepted the BLA of BAT1706 in five indications. They include treatment of patients with metastatic colorectal cancer in combination with fluorouracil-based chemotherapy, first-line treatment for patients with non-squamous non-small cell lung cancer, recurrent glioblastoma, metastatic renal cell carcinoma in combination with interferon alfa, and persistent, recurrent or metastatic cervical cancer.
Bio-Thera’s CEO Li Shengfeng said the partnership with Sandoz, a leader in the biosimilar market, will help bring BAT1706 to more patients. Sandoz is the generic and biosimilar unit of Novartis, which generated $9.6 billion in sales last year.
In late August, the Chinese firm out-licensed the U.S. commercialization rights for its ustekinumab biosimilar to Hikma in a $150 million deal.
The recent two deals show that Bio-Thera is eager to find commercialization partners for its biosimilar candidates as they are close to winning marketing approvals.
After years of efforts in developing biosimilars, Bio-Thera is switching focus to more innovative drugs. Speeding up entry to overseas markets could help fund the company’s development of more innovative candidates, such as anti-OX40 and anti-TIGIT monoclonal antibodies and an anti-PD-L1/CD47 bispecific antibody.