Sandoz, a Novartis division, yesterday announced that it has entered into a commercialisation agreement with Bio-Thera Solutions for biosimilar Bevacizumab (BAT1706). Bevacizumab is a recombinant humanised monoclonal IgG1 antibody that targets vascular endothelial growth factor (VEGF), a key mediator of angiogenesis in cancer, and is used in combination with other treatments, according to a statement by Sandoz.
The statement informed that Bio-Thera Solutions will maintain responsibility for development and manufacturing, while Sandoz will have the right to commercialise the medicine upon approval in the US, Europe, Canada and selected other countries.
As per the terms of the agreement, Bio-Thera Solutions will receive an upfront and milestone payments and is entitled to receive profit share payments in the partnered territory, added the statement.
It also said that this agreement builds on Sandoz’s leading off-patent oncology portfolio, which comprises four marketed oncology biosimilars and over 50 generic medicines worldwide. We see external collaborations as complementary to our internal programmes, with an appropriate strategic balance enabling us to drive patient access by delivering portfolio breadth, balancing risks and costs and positioning us to play a leading role in the future biosimilar market.