Alvotech and BiosanaPharma to Co-Develop Xolair Biosimilar
Biopharmaceutical company Alvotech has entered an exclusive global licensing agreement with BiosanaPharma to co-develop AVT23, a proposed biosimilar to Xolair® (omalizumab).
Reykjavik, Iceland & Leiden, The Netherlands – February 2, 2022 – Biopharmaceutical company Alvotech has entered into an exclusive global licensing agreement with BiosanaPharma to co-develop AVT23, a proposed biosimilar to Xolair® (omalizumab).
Global sales of Xolair reached $3.3 billion in 2020. AVT23 will be produced using BiosanaPharma’s proprietary 3C process technology, designed for highly productive, low-cost manufacturing.
Under the agreement, Alvotech receives exclusive global rights for AVT23, which is in late-stage development. BiosanaPharma will receive an upfront payment and is eligible for tiered royalties. Both companies will jointly further the development of AVT23. A prior pharmacokinetic study indicated that AVT23's bioavailability, safety, and tolerability were comparable to Xolair.
BiosanaPharma utilizes its 3C technology to make antibody therapeutics more affordable and accessible. Alvotech focuses on developing and manufacturing biosimilar medicines globally, with eight biosimilar candidates in its pipeline.