Alvotech Holdings S.A. ("Alvotech") announced that it has entered into an
exclusive global licensing agreement with BiosanaPharma to
co-develop AVT23 (also called BP001), a proposed biosimilar to
Xolair® (omalizumab). Xolair® is an anti-IgE
antibody indicated for treating certain patients
with either moderate to severe persistent asthma or chronic
idiopathic urticaria. According to the press release, BiosanaPharma
has completed a pharmacokinetic (PK) study showing that AVT23's
bioavailability, safety, tolerability and immunogenicity were
comparable to those of Xolair.
Under the terms of the agreement, Alvotech will receive exclusive
global rights for AVT23 and BiosanaPharma will receive an upfront
payment and will be eligible for certain tiered royalties.
BiosanaPharma and Alvotech will jointly further the development of
AVT23, which is currently in late-stage development.
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