Xbrane Biopharma
Xbrane Biopharma Completes Sale of XB003 and Parts of Its Organization to Alvotech
Xbrane Biopharma AB (publ) ("Xbrane" or the "Company") announced today that the transaction with Alvotech hf and its subsidiary Alvotech Sweden AB (jointly "Alvotech") regarding the sale of the biosimilar candidate XB003 (Cimzia) as well as parts of its organization has been completed, and that all regulatory conditions have been fulfilled.
The transaction, which was announced on March 20, 2025, and approved by the Extraordinary General Meeting on April 14, 2025, entails a total purchase price of approximately SEK 275 million, consisting of:
- A cash payment of approximately SEK 102.2 million
- Assumption of convertible debt from CVI Investments of approximately SEK 152.75 million
- Assumption of XB003-related accounts payable of approximately SEK 20 million
"By completing this transaction, we significantly strengthen our financial position and can now fully focus on realizing the potential of our remaining programs, particularly Ximluci and Xdivane. We look forward to continuing our work in biosimilar development and creating value for our shareholders and patients," said Martin Åmark, CEO of Xbrane Biopharma.
| Datum | 2025-06-04, kl 13:45 |
| Källa | MFN |
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